Rising interest rates and a competitive housing market made renting all the more popular last year, and the trend is expected to continue into 2024. To get a sense of the landscape, apartment search site RentCafe compiled data across the 150 largest cities to discover which locations were the best cities for renters in 2024.
Renters accounted for about 36% of the nation’s 122.8 million households in 2019, according to the most recent Census Bureau data. The median asking rent in the U.S. was $1,967 in November 2023, according to a report from Redfin. That represented a decline of 2.1% from the previous year and was the most recently-available data.
