Best cities to rent a home in the U.S. right now
Renting remains less expensive than buying in most metropolitan regions (Realtor.com), but some markets stand out from the rest for their affordability, job growth, cultural attractions, and other key housing considerations. Here are our top renter destinations for 2024:??
Salt Lake City, Utah
If you’re in hustle mode
The Wall Street Journal (WSJ) recently named Salt Lake City?the top job market in America. Utah’s largest city has become a growing economic hub, with employment increasing particularly in sectors like technology and finance. WSJ rankings looked at attributes like the average unemployment rate, yearly labor-force participation rate, changes in the average monthly employment and labor-force level, and changes in average weekly wages.
??: One significant reason Salt Lake City is such an appealing housing market is that there’s so much to experience?outside?of work. From outdoor adventures to art galleries to live sports, peek inside the Beehive State’s capital and what it has to offer on the #AMHblog, here.
Nashville, Tennessee
If you’re saving up
For those on a tight budget or hoping to bulk up on savings this year, look no further than the Nashville-Davidson-Murfreesboro-Franklin metro (Realty News Report).?In a country that’s short millions of homes, high construction activity in the region is adding much-needed supply that’s stabilizing rent prices relative to other markets (WKRN).
??: Affordability is just one reason why Millennials and Gen Z are flocking to Tennessee with greater frequency than other states, according to a?GOBankingRates study. Learn more about why this hotspot is attracting young generations on the #AMHblog, here.?
Columbus, Ohio
If you like to see things grow
Ohio has a reputation for being an approachable, affordable Midwestern state. But don’t let that fool you. Columbus in particular is one of the nation’s fastest-growing housing markets, and the arrival of tech companies like Intel and Google have only increased the city’s rapid development (U.S. News). Get in on the Silicon Heartland while you can.?
??: Intel Corporation’s plans to open two new semiconductor manufacturing facilities in Licking County represents the largest single private sector company investment in Ohio's history. It’s?expected to create 3,000 direct jobs, $405 million in annual payroll, and more than $20 billion in fixed asset investment by end of 2028 (Office of the Governor, State of Ohio).
Milwaukee, Wisconsin
If you love the outdoors
Wisconsin’s biggest and liveliest city is turning heads beyond the Great Lakes. Long known as the Brew City, Milwaukee is gaining popularity for its outdoor offerings as well. Listed among National Geographic 's top 2023 travel destinations, the city has seen a surge in American visitors drawn by its parklands and beaches on Lake Michigan.
??: Last year, the city also solidified its reputation for summer festivals, including Summerfest, the Harley-Davidson Homecoming, and the Playa Fest, contributing to a significant rise in Lyft rides to outdoor activities, up by 43% from the previous year.
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Orlando, Florida
If you want to be happy
OK, we’re being a little cheeky. But Florida did rank as one of the happiest states to live in last year, and the second highest in emotional and physical well-being, according to WalletHub. In Orlando, construction is on the rise (Forbes) and beautiful rental home communities with appealing amenities are popping up (WESH 2 CW18, NBCUniversal), adding more housing supply and options for residents.
??: The state has become a favorite for home renters.?And the housing forecast continues to be sunny in Florida for the foreseeable future. Learn more about this and other thriving communities of the Sunshine State on the #AMHblog, here.
Chicago, Illinois
If you enjoy gambling
Chicago's gambling scene, traditionally limited to riverboats or nearby cities, saw a significant shift with the opening of Bally's within city limits last September. The American Gaming Association now ranks it the third-largest gambling market in the U.S., behind only Las Vegas and Atlantic City (Chicago Tribune).
??: Even if you’re not into gambling, there’s plenty else to do in the Windy City, whatever budget you’re on (New York Times). The Midwestern hub blends together striking architecture, expansive museums, and eateries helmed by top chefs. No wonder Chicago was voted the?best big city in the country?for the seventh year running by Condé Nast Traveler readers, as well as one of the nine most visited cities in the U.S.
Dallas, Texas
If you’re dreaming big
Together, the Dallas-Fort Worth metroplex (DFW) is the most populous metropolitan area in the entire Southern U.S., with over 8 million residents. So it’s no surprise that it boasts a variety of neighborhoods that cater to different preferences and lifestyles, ranging from urban living to family-friendly suburbs and cultural hotspots that attract young professionals, families, and retirees alike. And despite its growing economy, DFW remains relatively affordable compared to other major U.S. hubs like New York and San Francisco, partially due to its building boom (Fortune).?
??: Home to?21 Fortune 500 companies, including AT&T and American Airlines, DFW created the second-most new jobs of any metro area in the country in 2023. That’s one of the reasons why the metroplex experienced the largest population growth last year as well,?according to the U.S. Census (NBC).
Las Vegas, Nevada
If you’re a sports fan
Las Vegas is becoming a sporting mecca. The Oakland Athletics plan to move to the city in 2028, joining the NFL’s Raiders, NHL’s Golden Knights, and WNBA’s Aces. There’s also talk of a Las Vegas NBA team when the league expands again.
??: Nevada is also ranked the #1 state in job growth by the?Bureau of Labor Statistics, with the strongest compound annual growth rate of jobs over the past three years.?
Learn how AMH is contributing solutions to the national housing undersupply challenge by building thousands of homes every year:
Planning to move this year? Share where you’re headed in the comments below ??