Best Places For Renters: Columbia Makes The List

COLUMBIA, MD — Nearly half of Americans, or about 43 percent, have opted to rent rather than buying a home, according to the Pew Research Center. But renting makes more sense in some places than in others. A new study from WalletHub ranks Columbia among the top 100 cities in the nation for renters.

According to the study, Columbia came in at No. 69 among 182 cities ranked. Another Maryland market, in Baltimore, came in at No. 176.

WalletHub estimates that about 11 million renters spend more than 50 percent of their income on housing.

With rental prices soaring in recent years — jumping 2.8 percent in 2017 alone — and demand for affordable housing exceeding the supply, WalletHub compared more than 180 housing markets to determine where renters can get the most for their money. Factors assessed include rental market, affordability, quality of life, the difference between rental rates and mortgage payments, the cost of living and job availability.

Columbia ranked No. 36 when it came to the rental market and affordability, but was No. 126 in the "quality of life" rankings.

The best place to rent in the U.S.? Scottsdale, Arizona, according to WalletHub. The worst was Detroit, coming in at No. 182.

You can read the full study here.

— By Patch editors Shannon Antinori and Elizabeth Janney

SEE ALSO:

• This Is The Best Maryland City To Live In For 2018: Survey
• Columbia Among Best Places To Live In Maryland: Niche.com
• Columbia is Best Place to Live in America for 2016: Money Magazine

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