Philly renters have spoken: The city deserves a C- grade for the year 2015. At least, that's according to the Apartment List Renter Satisfaction survey, which surveyed 18,000 U.S. renters on city satisfaction, rent affordability, and homeownership. According to the report, Philly's below average grade is mostly a result of renters' low confidence in the city's economy—just 15 percent of renters surveyed said the city's economy is "on the right track." They also gave Philly a big fat F for quality of local schools. But it wasn't all bad news for the city: It earned a B for quality of daily commute (wait, really?), and 67 percent of renters said they plan to buy a home after 2018.
The survey also revealed some end-of-the-year findings in regards to renting in Philly:
· Median 2BR price: $830
· Year over year change in 2BR rent: 3.9%
· Percentage of renters who are cost-burdened: 58%
Which city received the highest marks? Plano, Texas. Yee-Haw!
·Renting in the United States—The Year in Review [ApartmentList]
·How much house can Philadelphia millennials actually afford? [Curbed Philly]
·Philly's rent dropped big time in 2015 [Curbed Philly]