Minnesota City Now the Best for Renters in Entire Midwest
If you're a renter, did you know that the best city for you in the entire Midwest can be found right here in Minnesota?
If you watch any of those real estate shows on networks like HGTV, then you know that a common refrain is how most of the subjects of each episode can't wait to get out of their current living situation, usually a rental or a situation where they're staying with friends or family, and into a home they've purchased.
But renting an apartment, townhome or single-family home is often a better option for many residents of Minnesota. Recent data from Minnesota Compass says that there are just under 2.3 million housing units in the Land of 10,00 Lakes, of which just under 238,000 are rental units.
And now a new RentCafe survey says that a certain city here in the North Star State is one of the best cities for renters in the entire country, and is *the* best city for renters here in the Midwest. And, no, it's not Minneapolis or St. Paul, either!
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To determine these new rankings, RentCafe says they looked at 150 U.S. cities and ranked them according to 20 different categories. They examined categories like apartment quality, economic strength, traffic, air quality, and natural amenities and then grouped them into three categories: cost of living and housing; local economy; and quality of life.
So which Minnesota city came out on top not only here in our fair state, but as the best city for renters in the Midwest? Why, that would be the city of Rochester, Minnesota. Rochester is the third-largest city in Minnesota behind only Minneapolis and St. Paul, and is the largest city in the state outside of the Twin Cities metro area. It's home to the world-famous Mayo Clinic and has been regularly listed as one of the best places to live.
According to RentCafe, here's why Rochester is considered one of the best cities in the country-- and best in the Midwest-- for renters:
+ Rochester’s unemployment rate of 3.7% is lower than Minneapolis’ 5.8% and far below Detroit’s, which is the highest in the nation at 14.7%.
+ Renters in Rochester have seen their incomes increase by 46% over the last five years. In the Midwest, only Grand Rapids and Detroit have higher income increases (both slightly over 50%).
+ Nearly 44% of Rochester apartments are in prime locations, providing easy access to shopping and transit options.
+ 8% of residents use public transportation or walk, while 12% have commutes longer than 30 minutes.
+ Rochester properties boast a high 4-star rating on RentCafe.com, with one-third (34%) of the city’s apartments classified as premium.
+ With 25% of apartments completed in the last 5 years, Rochester has the second-highest share of new units in the Midwest.
Overall, Rochester placed 14th out of 150 on the list of the Best Cities For Renters in the U.S., with Minneapolis coming in at #26 and St. Paul ranked at #78 according to RentCafe. Charleston, South Carolina came in ranked first on that overall national list.
If you're looking at relocating and those rental rankings aren't enough, keep scrolling to check out the 50 Best Small Towns to Raise a Family, as well as the 100 Best Cities in Which to Raise a Family.
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