Summary:
- Wilmington ranked 19th best city for renters in 2024 according to RentCafe.
- The city excelled in housing cost and cost of living, ranking 14th.
- The South dominated the list, with 38 of the top 50 cities located in the region.
Wilmington has been named the 19th best place to rent in the United States for 2024, according to the latest data from RentCafe. This ranking is based on an analysis of 20 relevant metrics across three categories: cost of living and housing, local economy, and quality of life.
Strong Performance in Housing and Economy
Wilmington performed exceptionally well in terms of housing cost and cost of living, securing the 14th spot in this category. The cost of living in Wilmington fell by 4.2% year-over-year, and the city boasted the 8th best property rating in the country. These factors contributed significantly to its favorable ranking as a renter-friendly city.
The local economy also showed robust performance, with Wilmington ranked 22nd nationwide. This strength is attributed to impressive renter income growth, which was 23rd in the nation, and strong job growth, positioned at 27th. These economic indicators suggest a thriving environment for renters looking for stability and opportunities.
Challenges in Quality of Life
Despite the strong economic and housing metrics, Wilmington’s quality of life ranking was lower, coming in at 56th. The primary factors affecting this score were limited public transportation options, ranked 127th nationwide, and less desirable apartment locations, which were ranked 15th. These aspects indicate areas where Wilmington could improve to enhance the overall living experience for its residents.
The South Leads the Way
The report highlighted a broader trend favoring the South as a prime region for renters in 2024. The top four cities for renters were all located in the South, and a remarkable 38 out of the top 50 cities were in this region. This dominance underscores the South’s appeal due to factors such as cost-effective living, strong economic growth, and favorable housing conditions.
Conclusion
Wilmington’s position as the 19th best city for renters in 2024 showcases its strengths in housing affordability and economic growth. However, the city has room for improvement in quality of life metrics, particularly in enhancing public transportation and the desirability of apartment locations. As part of a broader trend favoring the South, Wilmington continues stands out as a promising destination for renters.
