We’re living in a period of low mortgage rates. Housing prices have recovered roughly 80% of their inflation-adjusted losses from the 2006 crash. Yet, according to a 2016 report from the Joint Center for Housing Studies of Harvard University, more than a third of households in the United States opted to rent in 2015. Perhaps the American dream of owning a home surrounded by a white picket fence has changed. Or, the benefits of renting, such as its inherent flexibility, simply outweigh the benefits of owning at the moment. Whatever the case, not all places in the US are equally attractive for renters.
To find out the most and least attractive places, I compared 3,000+ U.S. counties on two measures: (1) Rental Affordability and (2) Quality of Life. Together, these two measures consist of 12 sub-metrics, ranging from county-specific median income to life expectancy.
Here’s a snapshot of the counties that made the top and bottom 5. To see an interactive and more in-depth view of your current or prospective county and the methodology I used, click here.
1. Benton County, Arkansas
Median income (national quartile): $57,408 (1st)
Housing affordability (national quartile): 71% (1st)
Quality of life score (1-4, 1 being the best quality of life): 1.15
2. Clay County, Missouri
Median income (national quartile): $61,598 (1st)
Housing affordability (national quartile): 68% (1st)
Quality of life score (1-4, 1 being the best quality of life): 1.20
3. Hamilton County, Indiana
Median income (national quartile): $89,861 (1st)
Housing affordability (national quartile): 70% (1st)
Quality of life score (1-4, 1 being the best quality of life): 1.25
4. Warren County, Ohio
Median income (national quartile): $72,973 (1st)
Housing affordability (national quartile): 70% (1st)
Quality of life score (1-4, 1 being the best quality of life): 1.25
5. Johnson County, Kansas
Median income (national quartile): $76,104 (1st)
Housing affordability (national quartile): 68% (1st)
Quality of life score (1-4, 1 being the best quality of life): 1.25
1. Robeson County, North Carolina
Median income (national quartile): $30,414 (4th)
Housing affordability (national quartile): 56% (4th)
Quality of life score (1-4, 1 being the best quality of life): 3.65
2. Bronx County, New York
Median income (national quartile): $33,687 (4th)
Housing affordability (national quartile): 49% (4th)
Quality of life score (1-4, 1 being the best quality of life): 3.45
3. Wyandotte County, Kansas
Median income (national quartile): $37,087 (4th)
Housing affordability (national quartile): 57% (4th)
Quality of life score (1-4, 1 being the best quality of life): 3.40
4. Citrus County, Florida
Median income (national quartile): $36,383 (4th)
Housing affordability (national quartile): 53% (4th)
Quality of life score (1-4, 1 being the best quality of life): 3.35
5. Richmond County, Georgia
Median income (national quartile): $36,012 (4th)
Housing affordability (national quartile): 52% (4th)
Quality of life score (1-4, 1 being the best quality of life): 3.10