The Short Answer
The price to rent ratio is a financial tool that serves as a guiding light for those navigating the intricate pathways of real estate decisions. By comparing the cost of owning a property to the expense of renting a comparable one, the price-to-rent ratio unveils valuable insights into the buy-vs-rent dilemma.
The top 10 cities with the lowest price to rent ratios in the US in 2023 so far are:
- Glenwood Springs, CO – 4.93
- Pottsville, PA – 9.88
- Sebastian, FL – 10.45
- Bay City, MI – 10.64
- Kankakee, IL – 10.76
- Toledo, OH – 10.98
- Peoria, IL – 11.02
- Syracuse, NY – 11.37
- South Bend, IN – 11.61
- Florence, SC – 11.69
Table with Price To Rent Ratio By City
| City Name | Price To Rent Ratio |
|---|---|
| 1. Glenwood Springs, CO | 4,93 |
| 2. Pottsville, PA | 9,88 |
| 3. Sebastian, FL | 10,45 |
| 4. Bay City, MI | 10,64 |
| 5. Kankakee, IL | 10,76 |
| 6. Toledo, OH | 10,98 |
| 7. Peoria, IL | 11,02 |
| 8. Syracuse, NY | 11,37 |
| 9. South Bend, IN | 11,61 |
| 10. Florence, SC | 11,69 |
| 11. Springfield, IL | 11,84 |
| 12. LaGrange, GA | 11,99 |
| 13. Warner Robins, GA | 12,00 |
| 14. Cleveland, OH | 12,02 |
| 15. Trenton, NJ | 12,07 |
| 16. Hinesville, GA | 12,10 |
| 17. Macon, GA | 12,14 |
| 18. Battle Creek, MI | 12,19 |
| 19. Rochester, NY | 12,19 |
| 20. Binghamton, NY | 12,22 |
| 21. El Paso, TX | 12,25 |
| 22. Jackson, TN | 12,27 |
| 23. Poughkeepsie, NY | 12,43 |
| 24. Utica, NY | 12,46 |
| 25. Danville, IL | 12,47 |
| 26. Chicago, IL | 12,50 |
| 27. Rockford, IL | 12,56 |
| 28. Wheeling, WV | 12,57 |
| 29. Punta Gorda, FL | 12,66 |
| 30. Dayton, OH | 12,67 |
| 31. Winston, NC | 12,71 |
| 32. Miami, FL | 12,72 |
| 33. Pittsburgh, PA | 12,78 |
| 34. Watertown, NY | 12,84 |
| 35. Port St. Lucie, FL | 12,89 |
| 36. Montgomery, AL | 12,92 |
| 37. Lawton, OK | 12,94 |
| 38. Findlay, OH | 12,97 |
| 39. Atlantic City, NJ | 12,99 |
| 40. Myrtle Beach, SC | 13,02 |
| 41. East Stroudsburg, PA | 13,08 |
| 42. Brunswick, GA | 13,14 |
| 43. Fayetteville, NC | 13,16 |
| 44. Saginaw, MI | 13,20 |
| 45. Greensboro, NC | 13,21 |
| 46. Midland, MI | 13,27 |
| 47. Muncie, IN | 13,29 |
| 48. Cape Coral, FL | 13,30 |
| 49. Wichita Falls, TX | 13,37 |
| 50. Terre Haute, IN | 13,38 | 51. Florence, AL | 13,38 |
| 52. Duluth, MN | 13,38 |
| 53. Scranton, PA | 13,41 |
| 54. New Haven, CT | 13,42 |
| 55. Youngstown, OH | 13,44 |
| 56. Champaign, IL | 13,45 |
| 57. Sumter, SC | 13,50 |
| 58. New Orleans, LA | 13,52 |
| 59. Joplin, MO | 13,52 |
| 60. New York, NY | 13,61 |
| 61. Lakeland, FL | 13,63 |
| 62. Enterprise, AL | 13,63 |
| 63. Carbondale, IL | 13,64 |
| 64. Akron, OH | 13,70 |
| 65. Gulfport, MS | 13,71 |
| 66. Ocala, FL | 13,73 |
| 67. Niles, MI | 13,73 |
| 68. Kingsport, TN | 13,76 |
| 69. Greenville, NC | 13,82 |
| 70. Tuscaloosa, AL | 13,84 |
| 71. Columbia, SC | 13,88 |
| 72. Waco, TX | 13,88 |
| 73. Davenport, IA | 13,89 |
| 74. Allentown, PA | 13,90 |
| 75. Lansing, MI | 13,96 |
| 76. Hammond, LA | 13,98 |
| 77. Mobile, AL | 13,98 |
| 78. Erie, PA | 14,01 |
| 79. Shreveport, LA | 14,03 |
| 80. Lubbock, TX | 14,04 |
| 81. Detroit, MI | 14,09 |
| 82. Memphis, TN | 14,10 |
| 83. Jackson, MI | 14,10 |
| 84. Hartford, CT | 14,14 |
| 85. Bloomington, IN | 14,18 |
| 86. Columbus, GA | 14,20 |
| 87. Homosassa Springs, FL | 14,23 |
| 88. Tampa, FL | 14,23 |
| 89. St. Marys, GA | 14,25 |
| 90. Fort Smith, AR | 14,26 |
| 91. Bangor, ME | 14,27 |
| 92. Cincinnati, OH | 14,28 |
| 93. Sebring, FL | 14,29 |
| 94. Knoxville, TN | 14,30 |
| 95. Buffalo, NY | 14,32 |
| 96. Baton Rouge, LA | 14,34 |
| 97. Torrington, CT | 14,35 |
| 98. Gainesville, FL | 14,37 |
| 99. Weirton, WV | 14,39 |
| 100. Savannah, GA | 14,42 |
Price To Rent for 100 Cities
Each city across the country has a unique real estate market that is heavily impacted by interest rates and other economic factors. Let’s take a look at the top 100 cities in terms of Price To Rent ratios, according to Zillow data. Each of these cities offers a distinctive appeal for renters and real estate investors alike, with varying interest rates.
1. Glenwood Springs, CO
Price To Rent Ratio: 4.93
With a median home sale price of $565,553, Glenwood Springs tops the list with the lowest price to rent ratios, at just 4.93. The average rent in this city is $2,995, and compared to the national average, Glenwood Springs has a slowly increasing demand from renters and the interest rates roller coaster has left the market in an easy position for investors to see if they should buy or rent.
2. Pottsville, PA
Price To Rent Ratio: 9.88
In the price to rent ratios arena, the small city of Pottsville has the second lowest on the list at 9.88. Pottsville has an annual rent price of $10,987 and a median sale price of $108,546, which makes this city a more affordable option for both buyers and renters. The median rent in Pottsville is just $900, and there is a demand for rental properties.
3. Sebastian, FL
Price To Rent Ratio: 10.45
Sebastian, Florida, has a price to rent ratio of 10.45 which is well below the key number for favorable price to rent ratios of 15. The average annual rent in this city is $33,523, and the median monthly rent is $2,400. Although this is higher than the national median, it’s all relative for this beautiful, fishing destination in Florida.
4. Bay City, MI
Price To Rent Ratio: 10.64
Bay City is tucked along Lake Huron’s Saginaw Bay in Michigan and has some of the best fisheries and state parks in the state. The city has one of the lowest price to rent ratios of 10.64, with a median rent price of just $800. This makes it one of the most affordable cities to rent in the US.
5. Kankakee, IL
Price To Rent Ratio: 10.76
Kankakee, just outside Chicago, also falls into the lowest price to rent ratios group, with a ratio of just 10.76. The city has an average rent price of $900, which is significantly lower than the national average. This, coupled with the affordable median home price of $167,944 (and therefore a lower typical monthly mortgage payment) makes this city a cheaper alternative for renters and buyers.
6. Toledo, OH
Price To Rent Ratio: 10.98
Toledo has long been known for its auto manufacturing and glass industry, and now it’s become the place many move to call home. Toledo has a price to rent ratio of 10.98, and a median rent price of only $825. The median sale price of homes in Toledo is $156,073 and the annual rent is $14,208.
7. Peoria, IL
Price To Rent Ratio: 11.02
Peoria is said to be the oldest permanent European settlement in Illinois and has a major port on the Illinois River. The city has a median rent of $1,000 and a price to rent ratio of 11.02, which makes it a good place to rent. The average rent is just under half of the national average of $2,100 and there is a reasonable amount of renter demand.
8. Syracuse, NY
Price To Rent Ratio: 11.37
Syracuse, nestled in the heart of New York State, is a city brimming with history, culture, and a vibrant community spirit. The city has a price to rent ratio of 11.37 with a median monthly rent price of $1,400. This puts Syracuse 33% lower than the national average for rent.
9. South Bend, IN
Price To Rent Ratio: 11.61
Situated in the northern part of Indiana, South Bend is home to the renowned University of Notre Dame, and the city pulses with a vibrant academic and cultural energy. The price to rent ratio of 11.61 puts South Bend among the cities with the lowest price to rent ratios in the country. South Bend has a median monthly price of $1,318 and a median sale price of $193,516.
10. Florence, SC
Price To Rent Ratio: 11.69
Nestled in the Pee Dee region, Florence has many historic districts and a rich history. The city also has a rent price per month of $1,550 and a price to rent ratio well below the average “good” rating. Florence’s median sale price is $185,946, and the demand for renting isn’t increasing currently.
11. Springfield, IL
Price To Rent Ratio: 11.84
Beyond its historical significance, Springfield pulses with a contemporary energy. The city has a 12-month average median sale price of $152,993, with an average annual rent of $12,923. The median rent being paid by tenants in Springfield is $1,100.
12. LaGrange, GA
Price To Rent Ratio: 11.99
With a price to list ratio of 11.99, LaGrange in Georgia has a historic downtown, and the city is surrounded by natural beauty. The median home price in LaGrange is $186,288, which is on the lower end of home prices across the country. The average rent price is $1,237.
13. Warner Robins, GA
Price To Rent Ratio: 12
Warner Robins’ real estate landscape tells a story of growth and development. With a variety of housing options, from cozy family homes to modern apartments. The median sale price in this city is $219,175, while the median monthly rent price is $1,550.
14. Cleveland, OH
Price To Rent Ratio: 12.02
Situated on the shores of Lake Erie, Cleveland’s real estate market reflects a captivating blend of tradition and innovation. The city has an average rent price of just $1,100, which is significantly lower than the US average.
15. Trenton, NJ
Price To Rent Ratio: 12.07
As the capital of New Jersey, Trenton’s real estate market is influenced by its position as a political and economic hub. With proximity to major metropolitan areas, it’s an appealing destination for both commuters and businesses alike. As such, the median sale price in Trenton is $356,184.
16. Hinesville, GA
Price To Rent Ratio: 12.10
The presence of the military base in Hinesville contributes to a steady demand for housing, offering opportunities for real estate investment and rental properties. The median rent price in this city is $1,400 and the median sale price is $225,470.
17. Macon, GA
Price To Rent Ratio: 12.14
The presence of universities, medical institutions, and corporate entities contributes to a steady demand for housing, making it an intriguing destination for real estate investment. For those looking to buy real estate in Macon, the median home price is $174,654.
18. Battle Creek, MI
Price To Rent Ratio: 12.19
Battle Creek’s accessibility makes it an attractive option for those seeking a balance between small-town charm and connectivity to larger metropolitan areas. The city has an affordable rental market, with tenants paying just $1,065 on average for rent.
19. Rochester, NY
Price To Rent Ratio: 12.19
The presence of renowned universities, research institutions, and a burgeoning tech scene contribute to a dynamic economy that influences the real estate market in Rochester. The median sale price in this city is $204,489.
20. Binghamton, NY
Price To Rent Ratio: 12.22
Binghamton is a city where a city where history, academia, and natural beauty converge to create a unique landscape of housing opportunities. The average annual rent in this city is $13,232, while the price to rent ratio offers an interesting 12.22.
21. El Paso, TX
Price To Rent Ratio: 12.25
El Paso’s economy is driven by sectors such as healthcare, education, and military presence, which contribute to a stable housing market and a strong sense of community. The median home price in this city is $227,755, for those looking to get a piece of the real estate pie.
22. Jackson, TN
Price To Rent Ratio: 12.27
Jackson’s dedication to community development and local commerce has led to the revitalization of downtown districts and the creation of modern amenities. The annual rent for a 12-month period is $15,828.
23. Poughkeepsie, NY
Price To Rent Ratio: 12.43
Poughkeepsie has a blend of historical significance and forward-thinking innovation that creates an environment which resonates with a diverse range of residents. However, the median home sale price in the city is $300,346, which is higher than many of the other cities we have covered.
24. Utica, NY
Price To Rent Ratio: 12.46
Utica is a city with a rich industrial heritage and a spirit of reinvention. As such, its real estate market is guided by its historical significance and ongoing efforts for revitalization. The annual rent for 12 months is Utica is $14,081.
25. Danville, IL
Price To Rent Ratio: 12.47
The market in Danville provides an extremely affordable option for investors with the median home sale price sitting at just $91,461. As such, the average rent in this city is $592, which is significantly lower than the $2,100 national average.
26. Chicago, IL
Price To Rent Ratio: 12.50
Each district has its own unique character in Chicago, and the city is an economic hub and cultural center. Property prices are higher, but not necessarily prohibitive, at $290,497 and the median rent price is $1,945.
27. Rockford, IL
Price To Rent Ratio: 12.56
Rockford has a dynamic housing market that is impacted by the city’s economic diversity, spanning industries such as manufacturing, healthcare, and aerospace. The average annual rent in Rockford is $12,501.
28. Wheeling, WV
Price To Rent Ratio: 12.57
Nestled in the picturesque Ohio Valley, Wheeling’s real estate scene embodies a blend of tradition, resilience, and contemporary development. The Wheeling real estate market offers buyers a reasonable price to invest, with a median home sale price of $130,115.
29. Punta Gorda, FL
Price To Rent Ratio: 12.66
As a city synonymous with coastal living, boating culture, and natural wonders, the maritime industry plays a large part in Punta Gorda’s real estate market. The annual rent in this city is $26,877.
30. Dayton, OH
Price To Rent Ratio: 12.67
Dayton is renowned for its aviation heritage and recognized as a hub for research and technology. The rental market is more affordable in Dayton, offering tenants a median rent price of $975 per month.
31. Winston, NC
Price To Rent Ratio: 12.71
The city’s diverse economic landscape encompasses sectors like healthcare, education, and research. This makes the real estate market in Winston vibrant and dynamic. There is an annual median rent amount of $19,383.
32. Miami, FL
Price To Rent Ratio: 12.72
The beautiful sunny city of Miami is a big attraction for investors and home buyers alike. However, the median home sale price in this sizzling city is $422,942.15, which can be prohibitively expensive for certain buyers. On the other hand, rentals offer great returns with the annual rent amount at $33,257.
33. Pittsburgh, PA
Price To Rent Ratio: 12.78
Pittsburgh is known for its industrial heritage, and these days the city also has rapidly evolving tech and healthcare sectors. This economic diversification leads to an interesting real estate market. The median rent in this city is $1,425, which is well below the national average.
34. Watertown, NY
Price To Rent Ratio: 12.84
Nestled in the northern part of the state, Watertown’s real estate scene captures a blend of tradition, rejuvenation, and modern growth. The median home sale price in Watertown is $194,292 and the annual rent price is $15,132.
35. Port St. Lucie, FL
Price To Rent Ratio: 12.89
Port St. Lucie’s real estate landscape captures a fusion of natural beauty, development, and modern amenities. The median sale price in this city is $370,674 which is still slightly lower than the countrywide average.
36. Montgomery, AL
Price To Rent Ratio: 12.92
Montgomery is the capital city of Alabama. The city has a strong demand for rental housing and the housing market maintains its upward trajectory compared to last year. The annual rent in Montgomery is $15,122.
37. Lawton, OK
Price To Rent Ratio: 12.94
With a price to rent ratio of 12.94, Lawton presents investors with a variety of opportunities. In Lawton, home values have gone up 1.6% over the past year, and the median sale price of homes is on the affordable end of the scale at $154,897.
38. Findlay, OH
Price To Rent Ratio: 12.97
Findlay offers a 12.97 price to rent ratio and has a somewhat competitive housing market. On average, homes in Findlay sell after 39 days on the market compared to 42 days last year.
39. Atlantic City, NJ
Price To Rent Ratio: 12.99
Over the past ten years, the Atlantic City real estate market has established a benchmark for real estate investment. Few cities have effectively merged affordability and substantial foreclosure rates with distinctive demand as effectively. The average annual rent in Atlantic City as of 2023 is $21,824.
40. Myrtle Beach, SC
Price To Rent Ratio: 13.02
Myrtle Beach offers a bustling housing market characterized by substantial increases in home prices and a demand for both long- and short-term rental properties. Myrtle Beach has a price to rent ratio of 13.02 and an annual rent of $22,655.
41. East Stroudsburg, PA
Price To Rent Ratio: 13.08
The real estate market in East Stroudsburg is very competitive, and the median home sale price in this city is $274,717. With a price to rent ratio of 13.08, and homes are selling in just 8 days in this city.
42. Brunswick, GA
Price To Rent Ratio: 13.14
The competitive Brunswick real estate market scored 72 out of 100 on Redfin’s Compete Score. Homes are selling in about 27 days, and the price to rent ratio is 13.14 which is a good ratio.
43. Fayetteville, NC
Price To Rent Ratio: 13.16
By July 2023, Fayetteville’s home prices had risen by 15.4% in comparison to the previous year. The average annual rent in Fayetteville is $17,353 and the median home sale price is $228,423.
44. Saginaw, MI
Price To Rent Ratio: 13.20
Saginaw’s location in Michigan provides access to various attractions, including the Great Lakes and outdoor recreational areas. The real estate market in Saginaw is competitive and home prices are on the rise. Saginaw scores a 13.20 price to rent ratio and offers an average annual rent of $11,162.
45. Greensboro, NC
Price To Rent Ratio: 13.21
The combination of affordability and an expanding population in Greensboro establishes a conducive setting for real estate investment, carrying the promise of lasting returns. The average annual rent in Greensboro is $17,841.
46. Midland, MI
Price To Rent Ratio: 13.27
Home prices in Midland are on the rise, having gone up by 2.3% over the last year as demand increases and inventory remains lower. The median sale price in this city is $194,194.
47. Muncie, IN
Price To Rent Ratio: 13.29
Muncie offers buyers or investors an affordable market, with a median sale price of $138,689 and an average annual rent of $10,438.32. The price to rent ratio is 13.29 which also gives investors an opportunity to make a success of investing in rental properties.
48. Cape Coral, FL
Price To Rent Ratio: 13.30
Cape Coral is known for its extensive canal system, vibrant arts scene, and proximity to natural wonders. Currently, the city is categorized as a sellers’ market, where prices generally lean higher and certain properties experience faster sales. However, with higher home prices come a higher typical monthly mortgage payment and rent prices, and the average annual rent is $25,950.87.
49. Wichita Falls, TX
Price To Rent Ratio: 13.37
The price to rent ratio in Wichita Falls is 13.37 while the median home sale price is $180,516. The average annual rent is $13,496, and overall investing in rental properties in Wichita Falls is a good option for investors.
50. Terre Haute, IN
Price To Rent Ratio: 13.38
Terre Haute has experienced a huge increase in home prices over the last year. According to Redfin, the city scores 78 out of 100 on the Compete Score, making this a very competitive housing market. The price to rent ratio of 13.38 and the annual rent of $10,365 make this an appealing market for investing in rental properties.
51. Florence, AL
Price To Rent Ratio: 13.38
Florence’s convenient location and economic diversity make for a dynamic rental market that caters to a range of residents. Florence has an annual rent of $12,630 and a price to rent ratio of 13.38.
52. Duluth, MN
Price To Rent Ratio: 13.38
The housing market in Duluth scores 47 out of 100 on Redfin’s Compete Score, which means that this market is not highly competitive. The price to rent ratio is 13.38 and the median rent is $1,475 per month.
53. Scranton, PA
Price To Rent Ratio: 13.41
Housing prices in Scranton are on the rise, sitting at $184,403 this year and there is fair demand for rental properties amongst tenants. The median rent is $1,200 per month and the price to rent ratio is 13.41.
54. New Haven, CT
Price To Rent Ratio: 13.42
There is some competition in the New Haven real estate market, but not enough to deter investors. The market in this city has seen an increase in home prices of almost 30% year-on-year, while the demand for rentals remains fair. The annual rent in New Haven is $22,596.
55. Youngstown, OH
Price To Rent Ratio: 13.44
Investors who are looking at rental properties in Youngstown are offered affordable options, with the median home sale price at $140,106. The average monthly rent price is just $850, which makes this city attractive for renters.
56. Champaign, IL
Price To Rent Ratio: 13.45
Champaign has a very competitive housing market, with home prices continuing to increase each year. The median rent per month is $1,075, which is less than half of the national average.
57. Sumter, SC
Price To Rent Ratio: 13.50
The average annual rent in Sumter is $14,803 and the price to rent ratio is 13.50. The median monthly rent is $1,250, with very little change in this number between months.
58. New Orleans, LA
Price To Rent Ratio: 13.52
New Orleans has a lower demand for rental properties, but the price to rent ratio is 13.52 and the median rent price per month is $1,750. Overall, the market isn’t very competitive for New Orleans, the city scores 14 out of 100 on the Redfin Compete Score.
59. Joplin, MO
Price To Rent Ratio: 13.52
Joplin offers renters a more affordable option with a median rent price of $1,100 and a price to rent ratio of 13.52. Rent prices in Joplin declined between July and June 2023, however they increased year-on-year.
60. New York, NY
Price To Rent Ratio: 13.61
While it may not top the list, New York is one the of most expensive real estate markets in the country, with a median home sale price of $540,006. The rental market in New York is expensive as well, with the median rent price well over the national average, at $3,750 per month.
61. Lakeland, FL
Price To Rent Ratio: 13.63
Lakeland produces an annual rental of $22,776, which is useful knowledge for real estate investors. Lakeland has a price to rent ratio of 13.63, with a somewhat competitive housing market.
62. Enterprise, AL
Price To Rent Ratio: 13.63
Enterprise has a military presence, agriculture, and business growth which makes the rental market vibrant and progressive. The median home sale price is $199,711, which the median monthly rent price is $1,400.
63. Carbondale, IL
Price To Rent Ratio: 13.64
Carbondale is home to Southern Illinois University (SIU), a well-regarded public research university. The university contributes to the city’s cultural diversity and economic activity. With an extremely affordable median monthly rent price of $795.
64. Akron, OH
Price To Rent Ratio: 13.70
In recent years, Akron has undergone transformations as it adapts to changing economic and social landscapes. The city has a median home sale price of $185,106 and a price to rent ratio of 13.70.
65. Gulfport, MS
Price To Rent Ratio: 13.71
Gulfport’s port plays a crucial role in trade and commerce, and the city’s economy is tied to tourism, shipping and manufacturing. The annual rent in Gulfport is $15,356 and the median rent price is $1,300.
66. Ocala, FL
Price To Rent Ratio: 13.73
Ocala is often referred to as the “Horse Capital of the World”. It has a median sale price of $265,366, a median rent price of $1,752 per month, and the price to rent ratio is 13.73.
67. Niles, MI
Price To Rent Ratio: 13.73
The annual rent is $16,565 in Niles for investors, and the median rent price per month is an affordable $850. This is significantly lower than US average.
68. Kingsport, TN
Price To Rent Ratio: 13.76
Kingsport has a price to rent ratio of 13.76 and the housing market is somewhat competitive. Home prices have declined a little, since last year and the median home sale price is now at $193,402.
69. Greenville, NC
Price To Rent Ratio: 13.82
Greenville is situated in Pitt County and is known for its vibrant community and educational institutions. The city has an annual rent of $16,365 and a price to rent ratio of 13.82.
70. Tuscaloosa, AL
Price To Rent Ratio: 13.84
The median home sale price in this city is $236,038 and the price to rent ratio is 13.84. The median monthly rent price in Tuscaloosa is $1,500 and there has been a minimal month-to-month change to this.
71. Columbia, SC
Price To Rent Ratio: 13.88
The median home sale price in Columbia is $244,487 which is a small percentage down from what it was last year. The price to rent ratio reflects the market’s propensity for renting over buying.
72. Waco, TX
Price To Rent Ratio: 13.88
The annual rent in Waco is $19,010, while homes are selling for a median sale price of $263,933. Homes are typically selling in 19 days, while the median monthly rent price is about $1,500.
73. Davenport, IA
Price To Rent Ratio: 13.89
Davenport is located along the Mississippi River, and its riverfront plays a significant role in the city’s economy. The median rent in Davenport is $910, which is less than half of the average across the country, which is $35 lower than the previous year.
74. Allentown, PA
Price To Rent Ratio: 13.90
Allentown has a very competitive housing market that scores 85 out of 100 on the Redfin Compete Score. With a price to rent ratio of 13.90 and a median rent of $1,525, the rental market is hot.
75. Lansing, MI
Price To Rent Ratio: 13.96
Lansing serves as the capital of Michigan and is home to the state government institutions. The annual rent in Lansing is $13,160 and the median monthly rent price is $1,050.
76. Hammond, LA
Price To Rent Ratio: 13.98
Hammond is situated in Tangipahoa Parish and is known for its university and proximity to New Orleans. The median home sale price in Hammond is $215,924 and the price to rent ratio is 13.98.
77. Mobile, AL
Price To Rent Ratio: 13.98
Mobile has historic significance, maritime heritage, and cultural diversity. The city has a median monthly rent price of $1,325 and an annual rent of $14,532.
78. Erie, PA
Price To Rent Ratio: 14.01
The annual rent in Erie is $11,723 and the city has a median home sale price of $164,301. This puts Erie in the more affordable zone for real estate investors.
79. Shreveport, LA
Price To Rent Ratio: 14.03
Shreveport’s economy is boosted by a mix of industries, and the city is near the Texas border which also contributes to the economic activity. Shreveport has a price to rent ratio of 14.03 and a median monthly rent price of $945.
80. Lubbock, TX
Price To Rent Ratio: 14.04
The median home sale price in the city of Lubbock is $222,198 and this is a significant increase from home prices the previous year. Lubbock has a price to rent ratio of 14.04 and has an annual rent of $15,830.
81. Detroit, MI
Price To Rent Ratio: 14.09
Detroit’s economy has evolved from its historic ties to the auto industry, and the city has undergone effective revitalization to attract new businesses. Along with this, its real estate market is somewhat competitive, but not prohibitively. The price to rent ratio is 14.09 and the median rent price is $1,200 per month.
82. Memphis, TN
Price To Rent Ratio: 14.10
Well-known for its country music influence, Memphis has a thriving rental real estate market. Those who are looking to rent a property in Memphis would be interested to know that the median rent price is $1,294 per month.
83. Jackson, MI
Price To Rent Ratio: 14.10
The median home sale price in Jackson is $169,358, which is an increase of over 35% per year. The median rent price is $900 which only increased by $1 year-on-year.
84. Hartford, CT
Price To Rent Ratio: 14.14
There is a shortage of new housing in Connecticut, so this has driven the rent prices up, but they remain much lower than the national average. The median rent price per month is $1,330 with the price to rent ratio of 14.14.
85. Bloomington, IN
Price To Rent Ratio: 14.18
The cost of living in Bloomington is a little higher than the national average. The city has a good price to rent ratio, and the average price of a home is $267,937. The median monthly rent price in Bloomington is $1,900.
86. Columbus, GA
Price To Rent Ratio: 14.20
Fort Benning, the major military installation located adjacent to Columbus, significantly influences the city’s economy and culture. The annual rent in Columbus is $14,280 and the median rent price is $1,149.
87. Homosassa Springs, FL
Price To Rent Ratio: 14.20
The median home sale price in Homosassa is $202,769, which is a decline of over 20% since the previous year. Rent prices in this city, however, have been increasing yearly and monthly. The current median rent price per month is $2,000.
88. Tampa, FL
Price To Rent Ratio: 14.23
Tampa has a bustling real estate market that is primed for home buyers, renters and investors. The median home sale price is currently $364,670, while the median rent price is $2,350.
89. St. Mary’s, GA
Price To Rent Ratio: 14.25
St. Mary’s is known for its coastal charm and historic sites. Home prices in this city are on the rise in this city, with an increase just short of 25% year-on-year. The annual rent in St. Mary’s is $18,602, while the price to rent ratio is 14.25.
90. Fort Smith, AR
Price To Rent Ratio: 14.26
Fort Smith has a very competitive housing market, scoring 72 out of 100 on the Redfin Compete Score. The annual rent amount in this city is about $12,587 and the median home sale price is $179,448.
91. Bangor, ME
Price To Rent Ratio: 14.27
The price to rent ratio is 14.27 and the median rent price per month is $1,600. The rent price has declined over the last year and when compared to the previous month. Which makes Bangor an interesting city for renters right now.
92. Cincinnati, OH
Price To Rent Ratio: 14.28
Cincinnati has one of the most competitive real estate market in the country, with a score of 89 out of 100 on Redfin’s Compete Score. This means that homes are getting multiple offers and can sell in just 6 days.
93. Sebring, FL
Price To Rent Ratio: 14.29
The median home sale price in Sebring is $229,506 and this is a $50 increase in comparison to the previous year. Homes are spending 48 days on the market in Sebring, which indicates that it isn’t very competitive. The median rent price in this city is $1,650.
94. Knoxville, TN
Price To Rent Ratio: 14.30
The population in Knoxville is surging, and this has caused an increase in the demand for homes in this city. Knoxville has an annual rent amount of $21,407 and a median monthly rent price of $1,995.
95. Buffalo, NY
Price To Rent Ratio: 14.32
Buffalo has emerged as a sought-after destination for those seeking respite from urban bustle while relishing exceptional amenities. As such, rental prices have gone up in this city, with a median rent price of $1,300.
96. Baton Rouge, LA
Price To Rent Ratio: 14.34
Baton Rouge has a famous food scene and great weather that are big drawcards for residents. The average price of a home in Baton Rouge is $240 510, while the price to rent ratio is 14.34. Housing is generally more affordable in this city than the US average.
97. Torrington, CT
Price To Rent Ratio: 14.35
Most residents of Torrington own homes, however the price to rent ratio is still favorable. The average price of a home in this city is $299,683, while the annual rent is $20,879. Torrington is home to many young professionals and retirees.
98. Gainesville, FL
Price To Rent Ratio: 14.37
While Florida can be an expensive state to live in, the median rent price in Gainsville is $1,650 per month which isn’t excessively expensive. Future predictions indicate that rent growth is declining and is likely to level off, however the price to rent ratios of Gainsville are still on the lower end.
99. Weirton, WV
Price To Rent Ratio: 14.39
Weirton is an affordable city for real estate. The city has a median home sale price of $122,166 and an annual rent of $8,487, which are both well under the national average.
100. Savannah, GA
Price To Rent Ratio: 14.42
The last city on our list of price to rent ratios is Savannah. Migration from other states to Savannah is high, thanks to the reasonable cost of living. The average price to rent ratio for Savannah is 14.42, which is a favorable indication for those looking to rent in this city.