San Francisco is a top destination for renters, according to a new report from RentCafe that analyzes 140 cities using 20 metrics broken down into three categories — cost of living, local economy and quality of life.
Of the top 50 locales for renters in the nation, San Francisco ranked 46th overall and did well in terms of quality of life and the proximity to nature and green landscapes. San Francisco scored in the Top 10 when it comes to local economy, ranking fourth overall in the category. Renters in San Francisco have the second highest average income at $105,599 as well as job opportunities, according to the report.
Moreover, San Francisco experiences a significant influx of businesses each year, and its population has an impressive education level, ranking ninth in the nation with nearly 60% of adults holding at least a bachelor's degree. However, San Francisco faced the most substantial point loss in the housing and cost of living category, dropping its overall ranking.
Among the criteria analyzed to developed the ratings:
- Cost of living and housing: includes grocery and utility costs, average apartment sizes and occupancy rates.
- Local economy: includes unemployment rate and job growth.
- Quality of life: includes apartment locations, school quality and average commute times
The study can be found here: https://www.rentcafe.com/blog/rental-market/market-snapshots/best-places-for-renters-to-live/.