Renting isn’t just a fallback anymore. The mix of soaring home prices, inflation, and the weight of down payments is enough to push more and more Americans toward renting—not just as a temporary fix, but as a long-term plan. And, choosing to rent on the East Coast might make the house-renting experience worthwhile.
- House renters, rejoice: Richmond, VA, and Raleigh, NC, rank as the top metros for Americans renting single-family homes, checking off key boxes for renters seeking stability and comfort without the burden of ownership.
- East Coast Standouts: Pennsylvania and Virginia each claim two top metros for single-family renters—Pittsburgh and Allentown, PA-NJ, are neck and neck, while Richmond and Virginia Beach lead the way in their state.
- Economy & Housing Hotspots: The Omaha, NE-IA, and St. Louis, MO-IL, metro areas rank best at financial factors by boasting lower renters’ insurance and unemployment rate. Plus, more than half their single-family renter households can comfortably afford housing costs.
- Community & Quality of Life Hotspots: Oxnard ranks best in terms of overall quality of life. However, none of California’s largest metros offer strong enough conditions to crack the top best metros for single-family home renters.
Census data shows that single-family rental households have grown by 31% throughout the last two decades, outpacing the 21% increase in owner-occupied homes. This trend is further reflected in the all-time-high surge in build-to-rent homes—that is, newly constructed properties specifically designed for renting and meeting the growing demand for rental housing.
So, to determine the best places for renters looking to call a place home, Point2Homes analyzed the 75 largest U.S. metros using 25 key indicators that highlight both Economy & Housing and Community & Quality of Life—from cost of living and job growth to local amenities and community appeal:
While homeownership remains a key part of the American Dream, a noticeable shift is occurring with renter households growing faster than homeowners nationwide. The good news? Some metros manage to offer a mix of opportunity and quality of life, thereby proving that “location, location, location” matters just as much for renters seeking comfort and stability without the burden of ownership.
When it comes to the top metros for single-family home-renters, the East Coast stands out, claiming half of the top 10 spots:
Richmond, VA: 1st Among an Array of House Renter Hotspots on East Coast
Mountain West recreation havens Salt Lake City, UT & Boise, ID also offer some of the best renting experiences in the country
Nearly one-third of U.S. renter households nowadays are single-family home renters. And it’s not just house renting gaining ground: long-term renting is also on the rise across the country, with a recent Point2Homes study revealing that renters now stay for 10 years or more in the same house for rent.
The reason? A bitter concoction of rising home prices, limited housing supply, high mortgage rates, and rental prices deter renters from moving in the first place, as they would likely face higher rents elsewhere. As a result, many find themselves unable to save for a down payment and renting longer—particularly those looking for the space, privacy, and comfort of a single-family home.
Despite these pressures, there are certain metros where single-family home renters can get the most out of their renting experience:
Virginia Beach, VA, stands out with its coastal charm, while the Hartford, CT, area is anchored by its thriving insurance industry (and the lowest unemployment rate on the list, at 2.7%). Additionally, Allentown-Bethlehem-Easton, PA-NJ, blends a rich, industrial history with new economic growth to further expand the options of East Coast house-renters—and even make it a compelling alternative to Pittsburgh (with an almost identical score of nearly 61 out of 100).
That said, the top 3 U.S. metros for single-family home renters are:
1. Richmond, VA — 63.41 points
Richmond hits the house-renter’s sweet spot: The metro leads due to a combination of desirable attributes for single-family renters, including a lower unemployment rate, a comfortable number of bedrooms and vehicles per single-family renter household, and even good air quality. Most importantly, it recorded the second-highest year-over-year job growth at 3.4%. Adding to its appeal, the greater Richmond area is now home to eight Fortune 500 companies, enhancing its appeal to professionals looking to rent.
As for house renters seeking the perfect blend of financial factors and quality of life, look no further: with its thriving tech sector and just-as-thriving arts scene, Richmond scores big in both Economy & Housing (4th place) and Community & Quality of Life (10th place).
2. Raleigh-Cary, NC — 63.15 points
The Raleigh metro misses the top spot by just a hair. Part of the Research Triangle, the area is a hub for innovation and career growth, and it’s currently experiencing one of the lowest unemployment rates in the country. Of course, it doesn’t hurt that the year-round mild weather here gets pretty close to the ideal temperature.
Furthermore, the city of Raleigh itself happens to have some of the most single-family rental homes under construction. It also plans to expand its build-to-rent inventory tenfold to meet rising rental demand—which is easy to understand in an area known for job opportunities, affordable renters’ insurance and manageable commuting delays.
3. Salt Lake City-Murray, UT — 62.93 points
Salt Lake City is close on Raleigh’s heels. Despite the higher cost of living for house-renters, the latest data shows that more than 56% of those renting a house in Salt Lake City can comfortably afford their monthly housing expenses. That’s due to a mix of a low unemployment rate, job growth close to 2% and an average single-family renter household income of $93,345 — more than the Raleigh metro.
But it's not just about the numbers. Salt Lake City residents also seem to genuinely love where they live. With one of the best community indexes and the fourth-best walkability index, SLC is a prime destination for house renters looking for that community connection. On top of being one of the best areas for outdoor activities, it also offers plenty of entertainment, be it cinemas, libraries, art venues, gyms, and even theme parks.
Notably, despite being the second-smallest metro on the list, Boise, ID, ranks as the 4th best metro for single-family home renters. Renting a house in one of the best places to live in the entire country also comes with the peace of mind of living in the safest metro on the list.
Economy & Housing Leaders
Reduced financial burdens propel Omaha, NE-IA & St. Louis, MO-IL among prime metros for single-family home renters
Renting has become a strategic choice. Beyond the freedom from mortgage obligations and property taxes, life as a renter comes with lower upfront costs and a more predictable and manageable budget. A blend of manageable renters’ insurance and housing costs, low unemployment rates, and job growth can further solidify renting as the more attractive option.
For example, in the two best-ranked metros for Economy & Housing—Omaha, NE-IA, and St. Louis, MO-IL—over 55% of single-family home renters can comfortably afford their housing costs. The two areas also score well in terms of cost of living, enjoy reasonable renters’ insurance (as low as $138 in Omaha), and have some of the lowest unemployment rates of all metros analyzed.
Omaha's rank, in particular, is backed up by a recent economic surge, fueled by its booming finance and insurance sector that's outpacing national trends and contributing to the city’s overall economic resilience:
A glance at Omaha’s skyline will tell you that finance and insurance are big business in town. […] From heavyweight Fortune 500 companies to small-time community banks, the industry employs about one in 12 workers in the metro – double the national rate, according to BEA statistics.
Community & Quality of Life Leaders
Oxnard metro exudes California ease, sets standard for quality of life for house renters
The truth is that renters may experience less community connection compared to homeowners, which highlights the importance of fostering a sense of belonging in rental communities. After all, making a home isn’t just about having a place to live. Rather, it’s about feeling connected, enjoying cultural amenities and entertainment, and finding everyday comfort.
This is why—beyond the economic factors—the right metros for renting a house vary greatly when community-oriented and quality-of-life metrics take precedence.
Take, for example, the Oxnard-Thousand Oaks-Ventura metropolitan area in California. Although it falls short when it comes to economic indicators like cost of living or share of single-family renters comfortably affording housing costs, it ranks highest in terms of Community & Quality of Life. Specifically, the metro scores big in community well-being, safety and walkability. It even showcases plenty of cinemas, performing arts and recreational sports venues, and low commuting delays.
In terms of quality of life, the second-best place for single-family home renters is Providence-Warwick, RI-MA. This area combines New England charm with safety and strong community engagement, in addition to featuring good air quality and a notable presence of golf courses and even libraries.
Big State Metros Rank Low, But Perks Still Make Them Appealing to House Renters
Metropolitan areas in Texas, California, Florida, & New York shine with opportunity and convenience despite falling short overall
Few things feel as challenging yet rewarding as renting in the booming metropolitan areas of big states like Texas, California, Florida, or New York. While high costs and fierce competition are part of the experience, these metros also offer cultural vibrancy, abundant employment opportunities, and a wealth of amenities, upholding their status as some of the most in-demand rental markets.
First, despite the fact that Texas has a substantial share of single-family rentals, but no metro in the state cracks the top 10 best for house renters. The Austin-Round Rock-San Marcos metropolitan area comes closest, ranking 26th. In Austin, as much as 58% of house-renter households can comfortably afford their monthly housing costs, making it one of the more financially viable options in the state. Renters here also benefit from one of the highest average incomes for single-family renter households ($111,720), a low unemployment rate, and an average of nearly four bedrooms per renter household.
At the other end of the spectrum lies the McAllen-Edinburg-Mission area. Even as house-renters here benefit from the lowest cost of living (including rent and utilities compared to the national average), the border metro falls to the bottom of the list.
None of California’s largest metros make the top 10 either, but the state’s appeal to house renters is hard to beat. The Bakersfield-Delano metro is the only large metro in the country where over 51% of renter households are single-family. Meanwhile, the San Francisco and San Jose areas boast the highest single-family renter incomes ($150,340 and $194,154, respectively), as well as the best community well-being indexes—a comfortable fusion of economic prosperity and lifestyle perks.
On the opposite coast and home to some of the nation’s fastest-growing metropolitan statistical areas, Florida is an appealing destination for single-family renters. More precisely, the Miami metro offers walkability, robust job growth and a low unemployment rate — plus, as expected, abundant entertainment options. Likewise, Lakeland-Winter Haven (the smallest metro on the list with just under 820,000 residents) boasts one of the highest percentages of house-renters at 39%. It also presents spacious rental homes, minimal traffic delays and one of the highest safety ratings in the state, alongside the Cape Coral-Fort Myers area.
Meanwhile, renting a house in New York’s more urbanized metros is a completely different ballgame. The nation’s largest metro, New York-Newark-Jersey City, ranks 40th overall but stands out for its high-income levels among single-family renters, excellent walkability, and an abundance of performing arts venues, restaurants, and bars, which cements it as a well-known dynamic option for renters.
Methodology
Point2Homes.com is a real estate listing portal for rental homes across the United States. Part of Yardi Systems, Point2Homes covers housing trends and news through comprehensive studies that draw from internal data, public records, governmental sources, and online research.
- For this study, we considered the 75 largest Metropolitan Areas based on the most recent data from the 2023 1-year ACS.
- To determine the best metros for house renters, this report uses a combination of ranking scores and weighted averages across 25 relevant metrics, divided into two categories: Economy & Housing; and Community & Quality of Life.
- Each metric received a score based on the metric's minimum and maximum value multiplied by the metric's weight. The score for the final ranking was based on the sum of scores across all metrics. Ranking metrics and data sources:
Economy & Housing
- Cost of Living for Single-Family Renter Households (Rent + Utilities) compared to the National Average: Weight: 8%; Source: IPUMS*
- Renters Insurance (state level): Weight: 2%; Source: Insurance Information Institute
- Share of Single-Family Renter Households: Weight: 4%; Source: IPUMS
- Share of Single-Family Renter Households comfortably affording Housing Costs: Weight: 4%; Source: IPUMS
- Single-Family Renter Household Average Income: Weight: 8%; Source: IPUMS
- Unemployment Rate: Weight: 8%; Source: Bureau of Labor Statistics
- Job Growth: Weight: 4%; Source: Bureau of Labor Statistics
- Average Number of Bedrooms per Single-Family Renter Household: Weight: 2%; Source: IPUMS
- Average Number of Vehicles per Single-Family Renter Household: Weight: 2%; Source: IPUMS
- Average Gasoline Price: Weight: 4%; Source: aaa.com
Community & Quality of Life
- Community Well-Being Index: Weight: 8%; Source: Sharecare.com
- Safety (Violent & Property Crime Rate): Weight: 8%; Source: Federal Bureau of Investigation
- Average Commute Time: Weight: 4%; Source: IPUMS
- Annual Hours of Delay per Commuter Average: Weight: 4%; Source: Texas Transportation Institute
- Walkability Index: Weight: 4%; Source: Environmental Protection Agency
- Share of Days with Good Air Quality: Weight: 4%; Source: Environmental Protection Agency
- Difference Between Average & Ideal Annual Temperature: Weight: 4%; Source: National Oceanic and Atmospheric Administration
- Quality of Education & Attainment Gap: Weight: 4%; Source: WalletHub
- Food Services & Drinking Places (per 10,000 residents): Weight: 2%; Source: BLS
- Fitness & Recreational Sports Centers (per 10,000 residents): Weight: 2%; Source: BLS
- Golf Courses & Country Clubs (per 100,000 residents): Weight: 2%; Source: BLS
- Performing Arts Companies (per 100,000 Residents): Weight:2 %; Source: BLS
- Motion Picture & Video Exhibition Places (per 100,000 residents): Weight: 2%; Source: BLS
- Libraries & Archives (per 100,000 residents): Weight: 2%; Source: BLS
- Amusement & Theme Parks (per 1,000,000 residents): Weight: 2%; Source: BLS
*IPUMS means Integrated Public Use Microdata Series and provides census and survey data from around the world integrated across time and space. IPUMS is a part of the Institute for Social Research and Data Innovation at the University of Minnesota. Steven Ruggles, Sarah Flood, Matthew Sobek, Daniel Backman, Annie Chen, Grace Cooper, Stephanie Richards, Renae Rodgers, and Megan Schouweiler. IPUMS USA: Version 15.0 [dataset]. Minneapolis, MN: IPUMS, 2024. https://doi.org/10.18128/D010.V15.0 Images: Gorodenkoff; Wirestock Creators; Kevin Ruck; Joe Guetzloff/Shutterstock.com.
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