Noting U.S. Census Bureau statistics, apartment search website RENTCafé did an analysis of the 100 largest cities in the nation, comparing average incomes to rent prices to determine the most affordable U.S. cities to reside. They found three north Texas cities – Plano, Irving, and Garland – were in the top 15 best cities for renters, with residents retaining on average approximately $43,000 after all living costs.
Dallas and El Paso ranked just ahead of Austin and San Antonio, also showing impressive income to rental price ratios. Noting ATTOM Data Solutions’ 2017 Rental Affordability Report, Marcus Hiles discussed Dallas/Fort Worth already being places where renting is more cost efficient than owning a home, a trend that looks to continue across 2017 as mortgage rates and home prices continue to rise. Other Texas municipalities scoring in the top 50 were Houston, Corpus Christi, and Fort Worth, with residents spending just over 30 percent of their monthly income on rent costs.