As the search for ideal rental properties intensifies across the country, McKinney has emerged as a standout choice in 2024.
According to a recent report from RentCafe, McKinney has secured the No.4 spot in the rankings of the best places for renters to live, marking its debut in the top 10.
The report evaluated 150 cities based on 20 metrics, including apartment quality, economic strength, traffic, air quality, and natural amenities.
It earned a high ranking based on a mix of lower-than-average cost of living, high-end apartments in top locations, and quality schools. The city ranked high in cost of living and housing (No.2) and quality of life (No.9).
“With its small-town feel and a strong sense of community, McKinney is an ideal choice for renters who want to escape the bustle of the city without compromising on urban comfort. Boasting a variety of parks, farmers markets, and local businesses — all centered around its historic downtown — McKinney is a big draw for both young professionals and students,” reads the report.
The average apartment size in McKinney is 948 square feet, and approximately 35% of apartments have been constructed within the last five years. Additionally, the report found that the cost of living in McKinney is nearly 3% below the national average. Despite these strengths, McKinney’s performance in the local economy category was less stellar, landing at No. 47 in the rankings.
Charleston, South Carolina, retained its position as the top city for renters for the second consecutive year in the study, with Atlanta, Sarasota, and Scottsdale rounding out the top five.
In contrast, Plano, a neighboring city that had previously been a strong contender in the RentCafe rankings, fell from No.2 last year to No.17 in 2024.
Increases in the cost of living, which stands 16.6% above the national average, and a decline in the percentage of new apartments contributed to Plano’s drop in the new report.
However, another 2024 study from WalletHub based on different metrics recently ranked Plano as the top rental city in Texas. The WalletHub study compared and assessed 182 cities across the country based on criteria such as rental market availability, affordability, and quality of life. WalletHub ranked Plano No.11 in the nation.
Other Texas cities have also experienced shifts in the recent RentCafe rankings. Denton fell to No. 38, down from No. 19 last year, while Fort Worth (No.53) and Dallas (No.57) have dropped out of the top 50. San Marcos (No.55) had the distinction of finishing first for cost of living and housing but last for quality of life.
Round Rock (No.6) and Austin (No.7) continued to impress, maintaining their positions in the top 10.