Shalonda Lucas cherishes the best of both worlds: the affordability of suburban life without sacrificing the vibrancy of city living.
The 39-year-old recruiter resides in Surprise, Arizona, recently crowned the second-best locale in the nation for renters to maximize their earnings, as per a recent RentCafe study.
Expressing her fondness for the area, Lucas explains, “Surprise is one of those cities that’s growing — new businesses coming might have more job opportunities coming into play, and it’s a very diverse city.
It’s continuing to grow and expand, and I see a lot of people, even from California, coming here.”
Despite paying $1,795 monthly in rent, slightly more than her previous residence in North Phoenix, Lucas, earning approximately $70,000 annually, attests that the investment is worthwhile. She revels in the entertainment and shopping options that Surprise offers while finding the city eminently affordable.
“It’s very affordable,” Lucas affirms. “If you’re looking for something luxurious, that’s more upscale, and you’re looking for a city where you want to retire, Surprise is it.”
Surprise trails Sunnyvale, California, in RentCafe’s rankings, where residents manage steep living costs due to high incomes.
In Sunnyvale, where the average monthly rent sits at $3,013 — well above the national average of $1,702 — renters boast a median income of $145,723, nearly triple the national median of $49,201 among renters, according to RentCafe’s analysis of U.S. Census Bureau data.
In Surprise, the average monthly rent hovers at $1,781, only slightly exceeding the national average. However, akin to Sunnyvale, the median annual income among renters is also higher at $86,236, rendering it a relatively affordable residential option.
RentCafe’s comprehensive study juxtaposed median incomes among renters in 189 U.S. cities with local average rent prices to assess where renters can optimize their financial resources.
While rental expenses constituted the primary factor in the ranking, it also factored in local costs of essentials such as food, healthcare, transportation, and more to determine overall affordability.
Here are the top 10 U.S. cities where renters’ incomes stretch the farthest, according to RentCafe:
1. Sunnyvale, California
Median renters’ household income: $145,723
Average monthly rent: $3,013
2. Surprise, Arizona
Median renters’ household income: $86,236
Average monthly rent: $1,781
3. Arlington, Virginia
Median renters’ household income: $102,710
Average monthly rent: $2,494
4. Bethesda, Maryland
Median renters’ household income: $99,315
Average monthly rent: $2,684
5. Alexandria, Virginia
Median renters’ household income: $89,845
Average monthly rent: $2,068
6. Westminster, Colorado
Median renters’ household income: $75,841
Average monthly rent: $1,864
7. Scottsdale, Arizona
Median renters’ household income: $82,865
Average monthly rent: $2,084
8. Round Rock, Texas
Median renters’ household income: $68,517
Average monthly rent: $1,574
9. Plano, Texas
Median renters’ household income: $76,824
Average monthly rent: $1,786
10. Broken Arrow, Oklahoma
Median renters’ household income: $54,594
Average monthly rent: $1,117
While residents of these prime locales might effectively manage their finances, this isn’t the reality for many across the U.S. A recent Harvard study revealed that an increasing number of renters are burdened by housing costs, with half of U.S. renters allocating more than 30% of their income toward rent.
Experts advise maintaining rental costs at or below 30% of income to ensure financial stability.
