Although the housing market is slated to be a healthy one in 2017, many people still prefer the convenience of renting. According to recent real estate statistics, some US cities are especially beneficial for renters — not only because of their lower rents, but also because they offer a large selection of apartment rentals to suit any lifestyle and budget. These cities are also popular because of their overall affordability, healthy job market and attractive entertainment/recreational venues. Here are five affordable, attractive cities for renters to consider moving to in 2017.
5. Rochester, New York
It might be hard to believe that New York boasts a city with cheap rentals, but Rochester has become increasingly popular in recent years as a family destination, especially because of its single-family resident median rent of only $1,050. As for apartments, a one-bedroom averages around $747, while a two-bedroom rents for around $850. Rochester ended 2016 with an improved economy and increased job growth, and future job growth is predicted to reach 35.23 percent over the next decade. As for entertainment and big city amenities, Rochester is only 330 miles from New York City — close enough for regular weekend getaways to the Big Apple.
4. Spokane, Washington
Spokane offers all the beauty of scenic Washington State, but with rental prices at about a third of the price of Seattle. A one-bedroom apartment runs around $595, while a two-bedroom costs around $795. Shopping, groceries and other amenities are also substantially cheaper here than in Seattle — yet Spokane offers the same scenic vistas as well as the same proximity to the stunning national parks of the Northwest. As for the job market, Spokane has experienced employment growth during the last several years, with future job growth predicted to reach 36.93 percent over the next decade.
3. Cincinnati, Ohio
Cincinnati is one of those Midwestern cities that’s slated to attract large numbers of millennials in the coming year thanks to its lower housing prices, lower rents and recent job growth, which is predicted to reach 37.63 percent over the next decade. Cincinnati offers all the amenities of big-city life in the way of theaters, bars, shopping and entertainment venues yet has surprisingly affordable rentals ranging from $665 for a one-bedroom apartment to $930 for a two-bedroom. Likewise, a single-family home rents for as low as $950 a month.
2. Richmond, Virginia
Richmond regularly makes it to Top Ten lists of places to live thanks to its scenic beauty, close proximity to the excitement of Washington, DC and the famed hospitality of its locals. It offers all the amenities of big city life yet has a charming, laid-back vibe that’s reminiscent of a small American town. Richmond also offers the advantage of low rents, with one-bedroom apartments averaging around $875 a month and two-bedrooms going for around $996.
1. Las Vegas, Nevada
It may seem incongruous that one of America’s most popular resort cities is a haven for renters, but Las Vegas now boasts some of the most affordable rental prices in the country — at least, for a town with a big-city atmosphere and amenities. The average one-bedroom rents for around $885, while a two-bedroom goes for around $1,095. As for amenities, Las Vegas abounds with plenty of affordable, nationally known shops and restaurants located away from the tourist areas. The job market is growing as well, with future job growth over the next decade predicted to reach 39.87 percent. As for entertainment, Las Vegas is one of the entertainment capitals of the country, offering something for everyone.
With growing job markets, big city amenities, overall affordability and cheaper rents, these five cities are especially attractive not only to millennials, but also to baby boomers and people of all ages who are looking for places to live with renter-friendly prices.