St. Pete/Tampa Best in Nation for Renters?

Forbes.com recently compiled a list of the best, and worst, cities for renters in the United States.

St. Petersburg is ranked as the fifth best city to rent in the U.S. with an average rental rate of $820 a month. 

According to Forbes, on average, rent is $77 cheaper each month than a monthly mortgage payment in the 'Burg. Change in rent for year-over-year is a 0.9 percent increase. 

"To find the places where renters fare the best and worst, we started with the 44 largest U.S. Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MSADs). These are cities and their surrounding suburbs, as defined by the U.S. Office of Management and Budget.

With the help of Marcus & Millichap, an Encino, Calif.-based real estate investment firm, we ranked these metro areas according to four criteria: average rent in 2012’s first quarter; how much that price has changed year-over-year; vacancy rates, since more empty units means more choices and, typically, better prices; and the difference between the average monthly rental payment versus monthly mortgage payments (including taxes and insurance on a home at the local median asking price with a 30-year mortgage at 4.5% with 20% down)."

Top 5 for Renters

1. Tucson, Ariz. 
2. Jacksonville
3. Kansas City, Mo. 
4. San Antonio
5. St. Petersburg/Tampa

Five Worst for Renters

1. New York City
2. Minneapolis
3. San Francisco
4. San Jose, Calif. 
5. Boston