Rent vs. own is a debate most people have with themselves at some point. Roughly 44 million American households have opted to rent rather than buy their homes because of convenience, cost or both.
But renting isn’t always a cheaper or better alternative to owning a property. The right road to take depends on a variety of factors, including an individual’s or family’s financial means, and how well the local real-estate market is doing.
Each has advantages and drawbacks, so it’s good to do your homework. Or let someone do it for you.
In order to determine the best local rental markets, financial website WalletHub compared 182 cities — including the 150 most populated U.S. cities, plus at least two of the most populated cities in each state — across two key dimensions: rental market and affordability, and quality of life.
Within those dimensions, WalletHub included 22 relevant metrics, each graded on a 100-point scale, with a score of 100 representing the most favorable conditions for renters.
Three Georgia cities are included in the rankings, but all are among the worst for renters.
Atlanta finished at No. 141, with a score of 44.01. The city ranked No. 99 for rental market and affordability, and No. 141 for quality of life.
Right behind Atlanta, at No. 142, was Augusta. It finished No. 44 for rental market and affordability, but No. 174 for quality of life, with a score of 43.91.
You have to drop an additional 20 spots to find Columbus, which finished No. 164. It’s score of 40.82 comes from ranking No. 65 for rental market and affordability, but No. 177 for quality of life.
If you’re looking for the most bang for your buck, move to Sioux Falls, South Dakota, which finished in the top spot with a score of 65.26.
The complete analysis and rankings of all 182 cities can be found at WalletHub.com.
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