The city of Tiffin is among the nation’s best in terms of renting.
According to website LendEDU, Tiffin has been nationally recognized as one of the most budget-friendly cities in the country for renters.
According to LendEDU, the cities and towns featured in this report, like Tiffin, are great places for young adults to rent an apartment or home in because the availability of high-paying jobs makes rent only a small portion of their budgets, which means the opportunity to save will be there for the taking.
The recognition was announced today by the Tiffin-Seneca Economic Partnership. Read the full report here.
LendEDU used real estate data derived from the U.S. Census Bureau on more than 25,000 American cities, ranking each city according to its rent-to-income ratio, or the proportion of a city’s median household income that goes to annual rent costs (including utilities). A lower percentage was more favorable.
Tiffin had an average annual rent cost of $8,712 and a median household income of $48,010 for a rent-to-income ratio of 18.15%. It is generally recommended that a renter’s rent should cost no more than 30% of their annual income, so these numbers speak to Tiffin’s proximity to high-paying jobs relative to the affordable housing in the area.
Tiffin’s low rent-to-income ratio ranked #439 in the country and #41 in the state of Ohio.