RentCafe recently released a new study that identified the most renter-friendly cities in the U.S., with Plano being named among the top places.
The report, titled “Top Renting Sweet Spots in the U.S.: Where Your Income Goes the Furthest,” compiled various data from 189 American cities to figure out how much of people’s rent in each area went towards rent and other basic expenses like utilities, food and healthcare.
Plano ranked as the ninth-most ideal city for renters to reside in on account of its 11th-highest average annual income ($76,824) in the nation, making it easier for resident to pay off both rent ($1,786 on average) and living expenses ($1,204) while still maintaining savings, according to RentCafe.
While Plano was the only North Texas city to crack the top 10, Allen — another in Collin County — also found itself in the upper echelon.
Sitting in 30th, Allen residents’ average yearly salary comes in at $62,814, which goes a long way when the city offers one of the lowest food costs ($59) and the lowest prices on goods and services ($167).
Dallas found itself placing much lower than both Plano and Allen in the 73rd spot, but was still above-average out of all of the cities analyzed.
According to RentCafe, Dallas’ main appeal is its disposable income-to-transportation ratio, with transportation costs in the area ($51) being much lower than the national average ($61), meaning that average salaries of $51,070 can cover it 52.55 times after paying rent.
The reason Dallas did not rank higher was because of its goods and services costs, which were much higher than the national average ($274 vs. $217).
Other Texas cities to make it on the list were Round Rock, Cedar Park, Austin, Houston, Fort Worth and San Antonio.
To view the study in full, visit the RentCafe website.
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