Residents of the United States continue to seek out the most affordable options near the country's coastal urban hubs, according to 2020 rental market data compiled by TurboTenant, the online property management tool. The site's research indicates that the average rent in the U.S. is $1,207 for a two-bedroom home. All but one of the locations highlighted in the slideshow above exceeds that price. Cities that made this list tend to be highly walkable. On the downside, renters in these popular burgs also tend to face relatively high rental security deposits and cost-of-living. |
Insurance agent takeaway
Cities that are expensive for renters also are more expensive, on average, for homeowners. That means these higher-cost locations can be lucrative for insurance agents selling both personal lines and commercial policies. Financial experts generally advise prospective renters to spend roughly 30% of their income on housing. See also: |
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.