No. 1 Best City to Rent: New York

Price-to-rent ratio: 33*
Avg. cost to rent 2br: $3,537**
Avg. cost to buy 2br: $1,383,612**

Why: Even with the median sale price of all homes in New York City down 1.5 percent year-on-year in the February to April period, to $980,000 (see note), renting remains the more affordable option (not cheap, just less expensive), according to Trulia data. In addition to the benefits of lower cost, the city’s transient population typically prefers renting, which provides more flexibility.

*Based on a ratio of the average cost to rent or own. A higher score indicates a renter’s market. A lower score, a buyer’s.

**Note: For all slides, these costs refer only to two-bedroom apartments, townhouses, and condos.

In photo: 10 Hanover Square; Rent: $2,800; Bedrooms: 2; Bathrooms: 2; Size: 1,096 sq. ft.