Two Iowa Cities Are the Worst Places In America For Renters
Being in the top ten in the country for anything is usually a good thing...
This is not one of those times...
Finding a place to live, is not always as easy as it sounds. Deciding whether or not you should rent, or purchase property is a difficult thing to figure out. Are you ready to settle down? Can you even afford it? Or should you just stick it out in your rental property for another year or so before you can figure out how afford to put a down payment on a home?
And nowadays renting isn't that much cheaper either!
According to a study from Dwellsy, a renter's insurance website, not one but two areas in Iowa have cracked the top ten list for cities in the United States with the fastest-growing rent prices.
Exactly what we like to hear, right?
While March was a standard/moderate month economically speaking, there are many cities that are seeing a major increase when it comes to rental costs.
This study determined the fastest-growing rental prices for both one-bedroom apartments and three-bedroom, single family residences.
These places may not have the highest rent prices, but they are growing the fastest.
According to Dwellsy findings, it isn't necessarily the major cities that are really seeing such a high increase in rental prices. It really is the smaller and medium sized cities in the U.S. that are, "substantially impacted by the delivery of just a few new apartment buildings."
These one-bedroom apartments are usually for younger renters or couples that are hoping to save up for their first home. Many of these people might be fresh out of college or new to town.
So, the one Iowa location that has made it on the top of this list is the Waterloo/Cedar Falls area. The average asking rent in March of 2023 here was approximately $800 which is up 46.1 percent since March of 2022.
Here is the full list:
1. Oshkosh-Neenah, WI
2. Charleston, WV
3. Ithaca, NY
4. Corpus Christi, TX
5. Knoxville, TN
6. Waterloo-Cedar Falls, IA
7. Florence-Muscle Shoals, AL
8. Fort Collins-Loveland, CO
9. Hagerstown-Martinsburg, MD-WV
10. Flagstaff, AZ
Three-Bedroom Single Residence Homes
These homes are usually best suited for families with a child or two. While Iowa has been voted one of the best places to raise a family, it might not necessarily be easy to house them with the fast-growing rent prices for these sorts of homes.
Cedar Rapids made the top ten list in this category. The average asking rent price in March of 2023 was $1,450 which was a 21.3 percent increase since March of last year. The good thing about this news is that the second most populated city in Iowa comes in at sixth place in this study!
Here is the full list:
1. Santa Barbara, CA
2. Odessa, TX
3. Albany, NY
4. Wichita, KS
5. Fort Smith, AR-OK
6. Cedar Rapids, IA
7. Macon, GA
8. Monroe, LA
9. Jackson, MS
10. Lawton, OK