LOUISVILLE, Ky. — Many Americans will have to rent a property at some point in their lives.
To uncover the best and worst cities for renters, Forbes Advisor said their team analyzed 95 of the most-populous cities across 21 metrics. They took a look at three different things: affordability, availability and amenities and lifestyle and safety.
From this data, they revealed that two of the top 10 best cities for renters are Lexington and Louisville.
Lexington ranked No. 6 on the list with the city receiving a total score of 91.5/100.
According to the report, Lexington ranked in the top 20 for the following metrics:
- 14th best for the average monthly price per sq. ft. at $1.38 vs. the study average of $2.09.
- Seventh best for the percentage of units with on-site parking at 69.8%, compared to the study average of 52.8%.
- 12th best for rate of violent crime (2.8 incidents per 1,000 residents; study average was 7.4).
- 16th best for entertainment establishments per 1,000 establishments at 20.1, as compared to the study average of 18.8.
Louisville ranked No. 8 on the list with the city receiving a total score of 83.52/100.
Louisville ranked in the top 15 in the following cost-related metrics:
- 11th best for the median monthly rent price at $1,350, compared to the study average of $1,995.
- 13th best for rent as a percentage of income at 17.8%, compared to the study average of 21.3%.
- 11th best for the average monthly price per sq. ft. at $1.34, as compared to the study average of $2.09.
It ranked in the top 10 in the following metrics:
- The best walk score (96), compared to the study average of 49.4. A high walk score indicates you can do most daily errands without using a car.
- Third best for a bike score of 79 vs. the study average of 53.2.
- Sixth best for a park score of 92, compared to the study average of 48.7.
The top three best cities for renters were Lincoln, Nebraska; Omaha, Nebraska; and Raleigh, North Carolina.
To read the full breakdown of the best and worst cities for renters, please click here.
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