According to Zillow, the average price of rent has gone down in the United States.
These four metro areas in Pennsylvania seem to be exemplifying this trend, as they were found by a recent report to be amongst the least expensive for prospective renters in the country.
Lawn Love conducted and published a report concerning the most expensive metro area for renters in the nation. On a list of 196 cities total, each of the cities in the Keystone State ranked on the latter end of the list, meaning they’re actually on the least expensive end of the spectrum
They were: the Allentown-Bethlehem-Easton area (84th overall); the Philadelphia-Camden-Wilmington area (95th); the Pittsburgh area (151st); and the Harrisburg-Carlisle area (181st). In fact, the Harrisburg-Carlisle area’s ranking makes it among the top 20 least expensive metro areas for renters in the country, according to the report.
The rankings of these for metro areas — along with the other 192 included on the study — were determined after researchers ranked each across two main factors: “Financial Burden” and “Cost Inflators.” “Share of Cost-burdened Renters” and “Average Renters Insurance Premium” were among the metrics that were also analyzed.
The New York-Newark-Jersey City, New York-New Jersey metro area ended up ranking as the number one most expensive for renters after everything was all said and done.
The Sioux Falls, South Dakota region was found to be the cheapest.
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Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.