It’s better to rent in Charlotte than Miami or San Francisco, new rankings show
Charlotte is one of the fastest growing cities in the U.S. and a new ranking also named it one of the best places for renters.
RentCafe released its annual rankings of the cities that offer the best value and quality of life for renters.
“While some will have spacious apartments, great schools and plenty of outdoor amenities, others will have high costs of living, limited apartment options and fewer jobs,” the report says.
RentCafe analyzed cities around the country based on 20 relevant metrics grouped into three categories: cost of living and housing; local economy; and quality of life.
Out of nearly 140 cities, Charlotte ranked No. 8 on the list.
“Charlotte ranks 8th among America’s best cities for renters, as it boasts an impressive share of high-end apartments, one of the largest job gains in the country and a great number of ambitious people starting their own businesses,” RentCafe said of Charlotte.
While Charlotte ranked 8th nationally, here’s how the city was ranked in other categories:
Cost of living and housing (4th)
“69% of the Queen City’s apartments are high-end – the 5th largest share in the country, so renters here enjoy a pretty generous amount of rental space,” RentCafe told The Charlotte Observer. “Plus, 21% of Charlotte’s apartments were built in the last 5 years, making its rental stock the newest in NC.”
Local economy (15th)
“The number of jobs in Charlotte grew by 5% year-over-year, which is the 9th highest jump in the U.S. Consequently, only 5% are unemployed. That’s also because 4% of people aged above 16 applied for a business, increasing the vitality of the city’s local economy,” a RentCafe spokesperson said.
Quality of life (47th)
“Despite ranking a little bit lower in this category, renters in Charlotte spend a reasonable amount of time in traffic – 24 hours, to be precise. Also, 24% of the apartments are placed in top locations,” RentCafe said of Charlotte. “By contrast, the metrics that pushed the city lower in the ‘Quality of life’ category are a large share of car users (69%) and just 9 months of good air quality per year.”
Several other cities in the Carolinas also made RentCafe’s list of best places for renters, including Charleston at the top and Raleigh at No. 5. Overall, cities in the South make up almost half of the list.
Here’s what other cities were ranked as top places for renters.
Charleston, SC
Planto, TX
Scottsdale, AZ
Atlanta, GA
Raleigh, NC
Round Rock, TX
Austin, TX
Charlotte, NC
Conroe, TX
Arlington, VA
Sarasota, FL
Marietta, GA
Greenville, SC
Fort Lauderdale, FL
Denver, CO
Orlando, FL
Jacksonville, FL
Westminster, CO
Denton, TX
Durham, NC
