What About The Best? | Forbes.com: The Worst Cities for Renters | Comcast.net Finance
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Introduction With the help of Marcus & Millichap, Forbes ranked the 44 largest U.S. Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MSDs) according to four criteria: average rent in 2012’s first quarter; how much that price has changed year-over-year; vacancy rates; and the difference between the average monthly rental payment versus monthly mortgage payments (including taxes and insurance on a home at the local median asking price with a 30-year mortgage at 4.5% with 20% down).
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
10. Santa Ana, C... MSA: Santa Ana-Anaheim-Irvine, CA
Average Monthly Rent: $1,516
Change in Rent year-over-year: 2.4% increase
First Quarter Vacancy Rate: 3.7%
Mortgage Payment v. Rent Payment: $880 cheaper to rent
(Credit: Thinkstock)
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
9. Los Angeles, ... MSA: Los Angeles-Long Beach- Glendale, CA
Average Monthly Rent: $1,398
Change in Rent year-over-year: 1.9% increase
First Quarter Vacancy Rate: 3.7%
Mortgage Payment v. Rent Payment: $31 cheaper to rent
(Credit: Thinkstock)
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
8. New Haven, CT MSA: New Haven-Milford, CT Average Monthly Rent: $1,604
Change in Rent year-over-year: 2.1% increase
First Quarter Vacancy Rate: 4.1%
Mortgage Payment v. Rent Payment: $59 cheaper to rent
(Credit: Michael J. Ivins/Getty Images)
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
7. Oakland, CA MSAD: Oakland-Fremont-Hayward, CA
Average Monthly Rent: $1,318
Change in Rent year-over-year: 3% increase
First Quarter Vacancy Rate: 3.5%
Mortgage Payment v. Rent Payment: $1,029 cheaper to rent
(Credit: Thinkstock)
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
6. Washington, D... MSA: Washington-Arlington-Alexandria, DC-VA-MD-WV
Average Monthly Rent: $1,419
Change in Rent year-over-year: 2.6% increase
First Quarter Vacancy Rate: 4%
Mortgage Payment v. Rent Payment: $205 cheaper to rent
(Credit: Thinkstock)
More From Forbes:
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American Cities With The Most Construction Underway
America's Most Affordable Cities
The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
5. Boston, MA Worst Cities To Rent, No. 5: Boston, MA MSAD: Boston-Quincy, MA Average Monthly Rent: $1,752 Change in Rent year-over-year: 2.1% increase First Quarter Vacancy Rate: 3.8% Mortgage Payment v. Rent Payment: $58 cheaper to own
(Credit: Thinkstock)
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The Best Cities To Buy A Home Right Now
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
4. San Jose, CA MSA: San Jose-Sunnyvale-Santa Clara, CA
Average Monthly Rent: $1,520
Change in Rent year-over-year: 4.3% increase
First Quarter Vacancy Rate: 2.6%
Mortgage Payment v. Rent Payment: $1,050 cheaper to rent
(Credit: Thinkstock)
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
3. San Francisco... MSAD: San Francisco-San Mateo-Redwood City, CA
Average Monthly Rent: $1,901
Change in Rent year-over-year: 5.1% increase
First Quarter Vacancy Rate: 3.1%
Mortgage Payment v. Rent Payment: $1,259 cheaper to rent
(Credit: GeorgeDoyle/Thinkstock)
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
2. Minneapolis-S... MSA: Minneapolis-St. Paul-Bloomington, MN-WI
Average Monthly Rent: $965
Change in Rent year-over-year: 2.3% increase
First Quarter Vacancy Rate: 2.5%
Mortgage Payment v. Rent
Payment: $122 cheaper to own
(Credit: Thinkstock)
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American Cities With The Most Construction Underway
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
1. New York, NY MSAD: New York-White Plains-Wayne, NY-NJ
Average Monthly Rent: $2,902
Change in Rent year-over-year: 2.6% increase
First Quarter Vacancy Rate: 2%
Mortgage Payment v. Rent Payment: $217 cheaper to own
(Credit: Thinkstock)
More From Forbes:
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast. -
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