3 Valley suburbs rank atop list of best U.S. cities for renters

Do you rent your home or apartment as a way of life? Do you love the flexibility of a lease, of being able to try new neighborhoods or cities, and not having to worry about the unexpected expenses of being a homeowner? 

Or maybe renting is a means to an end for you. Maybe it’s a necessary pitstop on the way to homeownership while you scrounge together enough for a deposit and figure out if you really like your neighborhood enough to put down deeper roots.

Well, no matter your motivation, we have good news! If you rent in the Valley, you’ve apparently made a great decision, according to a new study by WalletHub. And if you rent in Scottsdale, even better!

Three Phoenix suburbs took the podium on a ranking of the best U.S. cities for renters. Scottsdale, Gilbert and Chandler respectively ranked first, second and third out of 180 cities. If you live here, according to WalletHub, you’re getting a good deal.

The financial site compared 180 different rental markets to determine the best and worst places in the country for renters. Those cities included the 150 most populated cities in the U.S. and at least two of the most populated cities in each state. Using data from a host of sources, including the U.S. Census Bureau, Zillow, and the Department of Housing and Urban Development, WalletHub analyzed 21 metrics to assess the quality of life in each city and the general state of the rental market and affordability.

The study found that while first-place winner Scottsdale isn’t the most affordable city, it isn’t the most expensive either. And people pay less for more. Most renters spend less than 22% of their income on rent, and Scottsdale homes are bigger than many in the country, coming in at an average of 2,179 square feet. All in all, it’s a good place to be if you’re a renter.

“Scottsdale ranks as the best city for both the availability of jobs and the driving environment (traffic and infrastructure quality),” the study says. “It also has the fourth-best weather and the seventh-best recreation options.”

Meanwhile, renters in Gilbert spent a little bit less on average for rent — 21% of their annual income — but got nearly as much square footage, with the average home square footage coming in at 2,101 square feet. Gilbert’s public school system also ranked well, and its crime rate was the third-lowest. 

Chandler also did well on income-to-rental ratio — only 21% spent on rent on average — and ample square footage in rental homes. But its primary claim to fame was the fact that a landlord can ask for a maximum of only two months’ rent for a security deposit, greatly relieving the financial burden on people looking to nail down a spot. 

In total, eight Valley communities (including Phoenix) ranked in the top 25, with Peoria earning a mention for having the fifth-highest vacancy rate among all 180 cities. The study also gave a shout-out to a state law about bedbug infestations, which includes protections for tenants that prevent landlords from renting out properties with an active infestation. 

Here’s how all of the Phoenix metro-area cities ranked on the list: 

25. Tempe
Rental market and affordability: 53rd
Quality of life: 29th

19. Phoenix
Rental market and affordability: 39th
Quality of life: 27th