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Sat. Jun 15th, 2024

Lexington, Louisville was among the top 10 cities for renters

By meerna Jun11,2024

To discover the best and worst cities for renters, Forbes Advisor said its team analyzed the 95 most populated cities across 21 metrics.

LOUISVILLE, Ky. — Many Americans will need to rent a property at some point in their lives.

To discover the best and worst cities for renters, Forbes Advisor said its team analyzed the 95 most populated cities across 21 metrics. They looked at three different factors: affordability, accessibility and convenience, and lifestyle and safety.

Based on this data, we found that two of the top 10 cities for renters were Lexington and Louisville.

Lexington finished 6th on the list with a total score of 91.5/100.

According to the report, Lexington ranked in the top 20 in the following metrics:

  • 14th in average monthly price per square foot of $1.38 compared to the survey average of $2.09.
  • Ranked seventh in the percentage of units with surface parking at 69.8%, compared to the survey average of 52.8%.
  • 12th place in terms of violent crime rate (2.8 incidents per 1,000 inhabitants; average in the study was 7.4).
  • 16th place among entertainment venues per 1,000 premises – 20.1, compared to the survey average of 18.8.

Louisville finished 8th on the list with a total score of 83.52/100.

Louisville ranked in the top 15 in the following cost-related metrics:

  • 11th for median monthly rental price of $1,350 compared to the survey average of $1,995.
  • 13th for rent as a percentage of income at 17.8%, compared to the survey average of 21.3%.
  • 11th in average monthly price per square foot of $1.34 compared to the survey average of $2.09.

It was ranked in the top ten on the following indicators:

  • Best walking score (96) compared to study average of 49.4. A high walk score indicates that you can do most of your daily errands without using your car.
  • Third best cycling score of 79 compared to the study average of 53.2.
  • The sixth best score for the park was 92, compared to the survey average of 48.7.

The top three cities for renters are Lincoln, Nebraska; Omaha, Nebraska; and Raleigh, North Carolina.

For a full list of the best and worst cities for renters, click here.

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By meerna

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