Major metros can still offer bargains for investors. Chicago emerged at the top of the list as the most affordable metro for renters, according to newly released rankings by HomeUnion, a real estate investment management firm. Chicago was the only metro nationwide in its analysis where renters, in general, spent less than 20 percent of their annual income on housing.
“With its low cost of living, relatively large housing inventory levels, and high affordability, Chicago is an excellent market for residents entering the renting pool,” says Steve Hovland, director of research for HomeUnion.
The 10 most affordable rental markets in the nation are:
Meanwhile, the 10 most expensive rental markets are:
Source: HomeUnion
