One should properly calculate or take into account the cost of living and cost of housing in a particular city before moving. Renting can be a great way for new arrivals to reside in a particular city, but unlike buying a property, renting is less of a commitment, monetarily speaking. Among a set of twenty cities surveyed across the United States, San Francisco, Los Angeles, and New York have the highest median rental rates, and they have cost of living ratings significantly higher than the national average. Charlotte, San Antonio, and Jacksonville have the lowest median rental rates and have cost of living ratings somewhat lower than the national average.
- Renting can be a good stepping stone when moving; you can find out if you can afford or even like living in a certain city.
- San Francisco is the most expensive city to rent in; Jacksonville is the cheapest.
- Moving.com has an online help section that can help you analyze different aspects of moving to the city of your choice.
“Renting allows newcomers to live in a city without making the serious financial commitment that a real estate purchase entails.”