PLANO, Texas — Plano ranked second in the entire country for best places to rent in 2023, according to a new study.
RentCafe analyzed 136 cities, and each needed at least 10,000 apartment units. They looked 20 metrics divided into three categories: cost of living, local economy and quality of life.
Cost of living & housing:
- Cost of living
- Average apartment size
- Occupancy
- Share of new apartments
- Share of high-end apartments
- Share of renter households
- Upsize cost for an extra bedroom
- Applicants per vacant unit
- Lease renewal rate
Local economy:
- Unemployment rate
- Share of higher educated residents
- Renter Income
- Job growth
- No. of Business applications
Quality of life:
- Apartments in top locations
- Average school quality
- Annual delay per car commuter
- Share of car users
- Natural amenity rank
- Share of days with good air quality
After looking at the metrics, the study showed that southern cities presented the best experience for renters, snagging 36 of the top 50 spots. Texas had a healthy presence in the top 10, taking up four spots:
- Charleston, SC
- Plano, TX
- Scottsdale, AZ
- Atlanta, GA
- Raleigh, NC
- Round Rock, TX
- Austin, TX
- Charlotte, NC
- Conroe, TX
- Arlington, VA
What placed Plano so high on the list was how the city performed in local economy (No. 2) and quality of life (No. 6). In "housing & cost of living," Plano ranked 68th.
“Plano’s reputation for producing great academic achievers make it an ideal spot for families looking for a city with excellent public schools, in addition to its great air quality and significant share of high-end apartments (78.2%),” the study said.
The report noted Plano's ability to house headquarters for large companies — such as Bank of America, Hewlett Packard, FedEX, JCPenney and Pepsi. The city also has one of the highest job growth rates nationwide.
Other North Texas cities that made the list were: Denton (No. 19), Dallas (No. 32) and Fort Worth (No. 37).
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