Lincoln, Nebraska, has earned the title of the best city for renters in the United States, according to Forbes. Mayor Leirion Gaylor Baird announced the accolade, celebrating Lincoln’s affordable rent prices, robust job market, and safe neighborhoods.
Key Highlights from the Forbes Report
- Median Monthly Rent: Lincoln’s median rent is $1,225, making it the 5th best in the nation, significantly lower than the average of $1,995.
- Rent as a Percentage of Income: The city ranks 10th, with rent taking up 17.6% of income, compared to the average of 21.3%.
- Rental Availability: With 394 available rentals per 100,000 households, Lincoln ranks 4th, far above the average of 164.
- Average Rent per Square Foot: Tied with Winston-Salem, Lincoln is 9th best at $1.33 per square foot, below the average of $2.09.
- Unemployment Rate: Lincoln enjoys a low unemployment rate of 2.6%, ranking 4th best, compared to the average of 4.1%.
Community Impact
Forbes noted that 68% of Lincoln renters have a household income of $50,000, and 49% rent because they cannot afford to buy. This ranking reflects Lincoln’s dedication to offering affordable living and a supportive environment for its residents.
Expert Insights
Jason Metz, Lead Editor at Forbes Advisor, highlighted Lincoln’s affordability, favorable rent-to-income ratio, and low unemployment rate. He also praised the city’s safety, making it a top choice for budget-conscious renters.
Mayor’s Statement
Mayor Gaylor Baird expressed pride in Lincoln’s top ranking, saying it reinforces the city’s reputation as a welcoming place where everyone can thrive.
Lincoln’s recognition as the best city for renters emphasizes its attractiveness as a livable, affordable city with a strong job market and safe neighborhoods.