Cedar Rapids is ranked as the second-best rental housing market in the United States, according to a new report from personal finance website WalletHub.
The rankings, which encompass the 150 most populated U.S. cities, plus at least two of the most populated cities in each state, were determined across two key dimensions – Rental Market and Affordability and Quality of Life. Cedar Rapids ranked fifth in market and affordability and 43rd in quality of life, according to the report.
Des Moines ranked 16th in the report. Sioux Falls, South Dakota topped the rankings.
“As more people have been vaccinated against COVID-19 and states have reopened, rental prices have hit the highest level in two years, after being relatively low in 2020,” the report said. “Meanwhile, mortgage rates are also starting to rise again. Like home prices, however, rental rates can vary significantly by region, state or city. And in some places, renting will prove to be more cost-effective and a better overall value than owning.”
