Santa’s making his list and checking it twice, but Rent.com took matters into its own hands to find out which cities have been naughty or nice to its renting residents.
This holiday season, Rent.com is shedding some light on the best cities and not-so-great cities for renters, based on vacancy rates, median rental rates and median household income.
Did your city make the naughty or nice list? There’s only one way to find out:
Methodology: Rent.com has assembled the Top 10 Naughty/Nice Cities for Renters based on the top 75 metropolitan areas as deemed by the U.S. Census. Cities with exceptionally low rental vacancy rates (lower than the national average of 7.4%) and high median rental rates were considered “naughty.” Median household income was also taken into consideration. The Top 10 Nice Cities were ranked based on high rental inventory (greater than the national average) and low median rental rates. Rental vacancy was given a weight of 5 points and median rental rates were given a weight of 3 during the ranking process. Household income (2012) and rental vacancy rates (2013 estimate) were provided by the U.S. Census (2012). Median rental rates were provided by Rent.com (2014).