Plano has claimed its status as the best city for renters in the Lone Star State, earning the ranking in a recent WalletHub study that compared 182 cities nationwide.
The study, focusing on rental market availability, affordability, and quality of life, positioned Plano at the peak for renters amongst Texas cities, and the 11th best city nationwide for renters. A total of 16 cities in Texas made the list.
“In the best cities for renters, rent can cost you as little as around 15% of your income. You’ll also have access to robust laws that protect renters, such as limiting deposits to only a month or two of rent. Our study also considers quality-of-life factors such as a city’s traffic congestion, job market or recreation options to make sure you can get a good living experience, not just inexpensive housing,” said Cassandra Happe, WalletHub Analyst.
Located just 20 miles northeast of downtown Dallas, Plano stands out as the largest city in Collin County and a significant player in the Dallas-Fort Worth economy. Plano ranked No.4 for quality of life in the WalletHub study. Its accessibility to major business centers, coupled with a growing community, has contributed to its high rankings in various studies including the recent one by WalletHub.
This is not the first time Plano has garnered this type of recognition. In October 2023, Forbes Advisor ranked Plano as the fourth-best city in the nation for renters and the top city for renters in Texas. Factors contributing to this ranking included the availability of rental units, parking spaces, and a high percentage of gyms and laundry facilities at the available rental properties. A SmartAsset study echoed these sentiments, ranking Plano No.2 among the happiest places to live in the U.S., as recently reported by The Dallas Express.
While Plano stood out among Texas cities, WalletHub’s analysis also spotlighted other notable findings for nearby areas. Brownsville had the lowest cost of living in the nation, while Laredo tied for second, making them attractive choices for budget-conscious Americans. Meanwhile, Amarillo was listed as having one of the highest rental vacancy rates in the U.S., providing plenty of housing options in an already competitive and growing real estate market.
About 45 million American households have chosen to rent instead of purchase homes due to convenience, cost, and availability in today’s growing market.
According to the U.S. Census, between 2022 and 2023, the Dallas-Fort Worth Metroplex experienced the most rapid population growth of all major metropolitan areas in the country.
The 16 Texas cities ranked as follows in the WalletHub study:
11. Plano
15. Laredo
29. Amarillo
31. Grand Prairie
38. Austin
39. Fort Worth
40. El Paso
44. Brownsville
53. Arlington
79. Irving
84. Corpus Christi
91. San Antonio
92. Lubbock
104. Dallas
106. Houston
116. Garland