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November 2023 » thefivestar.com 77 November 2023 J O U R N A L In addition, millennials renting alone boast an average income of $55,973, which is about $22,300 above the average renter's income. That's a clear indication of how much they value having their own space and freedom—without having to deal with the inconvenience of sharing their rental homes with others. Gen X represents 3.5 million solo renters enjoying privacy at home as hy- brid work persists. They are followed by the Silent Generation (totaling 2.1 million solo renters) and Gen Zers (640,000). Solo renters surge the most in Salt Lake City, but Texas dominates the top 10 Salt Lake City saw the biggest in- crease in the share of renters living alone between 2016 and 2021 among all metros analyzed—up by as much as 24.9% for a total of 50,265 renters. That said, lone renters here account for 15% of the met- ro's entire population of renters. Plus, with healthcare, technology, and energy thriving in Salt Lake City, it's easy to see why so many renters are choosing to call this growing city home. Granted, the cost of living in Salt Lake City is slightly higher than the national average, but it's still relatively affordable compared to other big metros. Next comes McAllen, Texas, which attracts renters with its extremely reason- able cost of living, affordable housing, and growing economy. Here, the share of lone renters grew 24.2% to a total of 19,579 in 2021, or 8% of the metro's renter population. Staying in the Lone Star State, solo renters in Austin grew 23.9%, from 114,510 to 141,923 in five years. With that, this category now represents 18% of the city's population of renters. And, with its booming tech industry, many profession- als in "Silicon Hills" enjoy the conve- nience of renting alone. At the same time, San Antonio's share of solo renters saw a 21.7% spike, pushing the number of renters living alone throughout the metro to 125,638, or 15% of its entire renter population. Dallas completes the list of Texas cities domi- nating the top 10, due to its 16% increase between 2016 and 2021. As such, lone renters in the Big D now total 402,404, making up 15% of all renters in the metro. Interestingly, among all metros analyzed, Philadelphia and Indianap- olis boast the largest share of renters living alone—both at 20%—after their numbers increased by 12.7% and 12%, respectively, in those five years. Cur- rently, solo renters total about 352,000 in Philadelphia and almost 122,000 in Indianapolis. Lone renters get the best bang for their buck in Ohio, with Akron emerg- ing as the best metro to rent alone Living alone as a renter can be challeng- ing financially. However, there are some places in the United States where solo rent- ers can afford to live comfortably and enjoy a good quality of life without breaking the bank. To that end, we ranked the locations where the gap between the income of lone renters and the income of average renters is the smallest. In this case, Ohio claims four spots among the top 10 metros where it's easiest on the wallet to live as a solo renter. Akron, Ohio, is the nation's best metro for lone renters from a financial standpoint, earning an extra $261 per month compared to regular renters). More precisely, those renting in Akron alone have an average annual income of $30,520, while the average renter makes $27,384 per year. That said, 42,515 (or 21%) of all renters here live alone and enjoy Akron's low cost of living, budding startup scene, and all of the attractions it has to offer. Pittsburgh is the #2 metro in the United States where it's easiest to rent alone. Making up more than 25% of the city's population of renters, those renting alone in Pittsburgh have an average year- ly income of $36,706. That's just $3,382 (or 10%) more than what regular renters make per year. Further northeast, in Providence, Rhode Island, renters living without roommates represent 20% of the metro's renter population. On average, their annu- al income is $36,354, which is 13% higher than a regular renter's income in the area. This means that lone renters in Providence make an extra $4,380 per year or $365 per month. California claims half of the top 20 places where it's hardest to rent alone, led by San Jose Living alone in a rental apartment in California can be challenging, and most Interestingly, among all metros analyzed, Philadelphia and Indianapolis boast the largest share of renters living alone—both at 20%—after their numbers increased by 12.7% and 12%, respectively, in those five years.