Third-worst market for renters: Minneapolis
Bang for Your Buck score: 26.9
This Twin City has few twins when it comes to costly rental markets.
That's because the typical Minneapolis residence has an above-average $1,451-a-month rental value. Rental values are rising at 4.92% a year, or more than twice the U.S. median.Minneapolis rentals also list for a median $1.59 a square foot, or more than 50% above what's typical nationwide. Add in the fact that the city has a below-average 2.45-year break-even point for buying vs. renting and you'll find that leasing a place there is about as much fun as swimming in Lake Minnetonka in January. "Minneapolis is one of those markets where it's so much more expensive to rent than to buy that if you're going to stay there for a while, you should buy," Gudell says.
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