If you’re a renter looking for a new place to live in 2023, you may feel like you need a magic formula to find the city that offers the best value and quality of life. If so, our annual study can serve as a guide, as it reveals the best cities for renters in 2023.
*We analyzed almost 140 cities, based on 20 relevant metrics grouped into three categories: cost of living and housing; local economy; and quality of life.
Charlotte ranks 8th among America’s best cities for renters, as it boasts an impressive share of high-end apartments, one of the largest job gains in the country and a great number of ambitious people starting their own businesses.
Here’s how Charlotte ranks in all categories:
#4 for Cost of living & housing
69% of the Queen City’s apartments are high-end – the 5th largest share in the country, so renters here enjoy a pretty generous amount of rental space (945 sq. ft.). Plus, 21% of Charlotte’s apartments were built in the last 5 years, making its rental stock the newest in NC.
#15 for Local economy
The number of jobs in Charlotte grew by 5% year-over-year, which is the 9th highest jump in the U.S. Consequently, only 5% are unemployed. That’s also because 4% of people aged above 16 applied for a business, increasing the vitality of the city’s local economy.
#47 for Quality of life
Despite ranking a little bit lower in this category, renters in Charlotte spend a reasonable amount of time in traffic – 24 hours, to be precise. Also, 24% of the apartments are placed in top locations. By contrast, the metrics that pushed the city lower in the Quality of life category are a large share of car users (69%) and just 9 months of good air quality per year.
