Second-worst market for renters: Hialeah, Fla.
Bang for Your Buck score:

Gudell says this Miami-area community is a bad place for tenants because South Florida's foreclosure crisis has driven hordes of locals out of their houses and into rentals, pushing up rents even as home prices fell.

"A lot of families were displaced and ended up having to rent," she says.

As a result, Hialeah properties have an above-average $1,555 median rental value today -- and that's growing at a hefty 5.14% pace per year. The typical Hialeah rental also lists for $1.35 per square foot, or about one-third above what's typical nationwide.

At the same time, local home prices are so low that you'll break even by buying instead of renting in 225,000-population Hialeah after just 1.72 years. That's the seventh-shortest period for any major American city.

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