AdvisorSmith Finds the Least and Most Affordable Cities for Renters in 2021
To find the most and least affordable cities, AdvisorSmith examined data from the U.S. Census Bureau and the latest rental price data from Apartments List to find the most and least affordable cities for renters nationwide among 500 U.S. cities.
To calculate rental affordability, they examined the ratio of median rent compared with the median household income in each city.
This study considers the earning potential of households in each city.
It also highlights the cities with high earning residents and low rental costs and highlights cities where residents must spend a high proportion of their household income on rent.
AdvisorSmith segmented the cities based on their size. Large cities were those with over 300,000 residents. Midsize cities had between 100,000 and 300,000 residents, while small cities had under 100,000 residents.
From their research, AdvisorSmith determined that the top small, midsize, and large city that was the least affordable for renters were Union City, NJ; Allentown, PA; and Miami; FL.
On the other hand, the top small, midsize, and large city that was the most affordable were Decatur, GA; Cedar Rapids, IA; and Wichita, KS.
To view the complete study, visit https://advisorsmith.com/
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