New England Area Named A Best For Renters
Apartment move-in season is right around the corner. Whether it’s young professionals moving into the city or students making plans to head back to campus, many yearly rentals begin in August and September. Based on quality of life, a New England city was recently ranked as one of the best cities for renters in the country.
WalletHub recently published their report that details the best and worst places to rent in the country for 2023. CNBC then analyzed the data. They then arranged the top ten markets for renters based strictly around the overall quality of life category.
“Inflation has significantly impacted rental prices, and 2022 saw the second-highest price growth in decades, a 6.2% year-over-year increase,” WalletHub explains. Nonetheless, 44 million households in the U.S. have still opted to rent rather than own their homes or apartments.
CNBC explained, “To rank the best states for renters based on quality of life, the report considered the following factors: City satisfaction index, job market, driver-friendliness, recreation-friendliness, weather, quality of the public school system, safety, and presence of state bedbug laws.”
Crossing right over the Massachusetts border and into New Hampshire, you will find this country’s best New England city for renters. Nashua has over 90,000 people and six spacious neighborhoods that attract renters (apartment complexes and homes).
Overall, Nashua had a final score 57.28. For reference, Overland Park, KS had the highest score at 61.77.
The biggest question regarding rent is what is the average monthly rental cost? Rent Cafe detailed this information. They say for a 927 square foot space, the average renters in Nashua currently pay $1,983. Rent Cafe also shows that 45% of the households are rented instead of owned.
If you are wondering how Boston fared in this analysis, the answer is: not great. While the biggest city in New England remains a great area to live, the increased cost of living has lowered its rank on places for renters in the country. Furthermore, it is highly competitive regarding the number of people vying for available rentals. Boston ranked the 106th best city for renters for quality of life, and 155th overall (out of 180).