Luxury for Less: Best Zip Codes for Upscale Living at Lower Rents

An attractive apartment with desirable amenities, in a nice neighborhood, at a reasonable monthly rent. Many renters dream of such a combination, but few know this is possible.

So, to help renters find the best deals as we gear up for the peak season for moving, RentCafe.com analyzed zip codes across the nation to pinpoint those urban enclaves offering premium apartments at below-average rents. In doing so, we found 200 zip codes where renters can find upscale units in good locations at lower monthly rates.

Nearly half of these zip codes are in Western and Southwestern cities. That said, Austin, TX, leads as the city where renters have the most chances of finding an upscale rental for a below-average rent with 12 zip codes on our list. Next, Atlanta and San Antonio are second and third, respectively, with nine zip codes each. They’re followed by Denver, which counts seven luxury-for-less zip codes.

Another notable mention is Seattle with seven zip codes for luxury-for-less renting in our ranking. That solidifies its status as a bustling tech city where renters can live well at below-average costs. Of course, the area’s higher incomes also play a significant role in this. Then, not far behind is Houston, where renters can choose from six zip codes with premium units at lower rents.

In fact, Texas is the top state for high-end apartments in good locations at below-average costs, counting 44 zip codes with upmarket units at reasonable rates, followed by Colorado with 19 locations and North Carolina with 16.

How did we identify these zip codes? The RentCafe.com research team analyzed approximately 10,000 zip codes, narrowing them down to those with a high concentration of quality apartments in desirable neighborhoods. We focused only on locations where the average rent was below the citywide norm for upscale rentals and where monthly rent costs accounted for less than one-third of the typical local income. As a result, we identified the zip codes offering the best deals — those with the largest gaps between their average rent and the citywide average.

Where to find the best deals for upscale living at lower rents?

While Austin, TX, leads with the highest number luxury-for-less zip codes, Seattle; Scottsdale, AZ; and Madison, WI, stand out for offering the biggest savings for renters seeking quality apartments. In these areas, renters can find great deals because most rentals are high-end, yet typical rents remain below the city average for this unit type.

This made Seattle’s beach-facing 98116 the top zip code for upscale living at lower rents. The area encompasses a great part of West Seattle, including the Seaview and Fairmount Park neighborhoods. Here, the typical rent is nearly $880 below the city average for premium units, and almost all apartments are classified as upscale and in a high-scoring location. Minneapolis; Dallas; Nashville, TN; and Houston are other leading options on our list.

 

Click here to view the interactive maps for the cities counting the most luxury-for-less zip codes.

Top 20 best zip codes for luxury apartments at lower rents

Here are the zip codes where renters have the biggest chances of scoring a great deal on a high-end apartment:

1. Zip Code 98116 in Seattle

• Zip vs. city rent gap for high-end units: -$875
• Zip code average rent for high-end units: $1,823
• City average rent for high-end units: $2,698
• City average rent for all units: $2,332
• Share of high-end apartments: 96.6%
• Share of apartments in highly rated areas: 100%

Zip code 98116 in Seattle covers a generous area on the city’s west side, right below Elliot Bay. Here, renters have high chances of finding premium apartments as almost all rentals fall within this category.

Plus, rents in zip code 98116 average $1,823 per month, which is $875 below the norm for high-end units in Seattle. While this may be outside of the “affordable” bracket for many Americans, it’s a great deal for Emerald City where the median income is well above the national benchmark. Furthermore, when it comes to local amenities, this zip code’s expansive waterfront includes beaches and parks, as well as a plaza around Seattle’s version of the Statue of Liberty.

2. Zip Code 98126 in Seattle

• Zip vs. city rent gap for high-end units: -$814
• Zip code average rent for high-end units: $1,884
• City average rent for high-end units: $2,698
• City average rent for all units: $2,332
• Share of high-end apartments: 67.5%
• Share of apartments in highly rated areas: 97.4%

The second-best deals for upscale renting are in Seattle’s zip code 98126, which overlaps parts of Delridge and West Seattle. In this area, the typical monthly rent is $800 below the city average for premium units, and more than two-thirds of apartments are in the upscale category.

Those living here appreciate the area’s homier and warmer atmosphere compared to Seattle’s Capitol Hill or Fremont, as well as its wide array of eateries. Additionally, neighborhoods in this zip code are expected to soon benefit from a new light rail project that has been years in the making.

3. Zip Code 85259 in Scottsdale, AZ

• Zip vs. city rent gap for high-end units: -$581
• Zip code average rent for high-end units: $1,578
• City average rent for high-end units: $2,158
• City average rent for all units: $2,051
• Share of high-end apartments: 90.3%
• Share of apartments in highly rated areas: 90.3%

The third zip code on our list is 85259 in Scottsdale, AZ, encompassing part of Central Scottsdale and outdoor oasis Scottsdale Mountain. Here, renters could pay $581 less than the city average for a premium unit in a nice area, right next to one of the three locations of the world-famous Mayo Clinic.

Specifically, nine out of 10 apartments in this zip code are high-end and have attractive amenities. This increases the chances of finding a great deal in this sunny enclave.

4. Zip Code 98107 in Seattle

• Zip vs. city rent gap for high-end units: -$475
• Zip code average rent for high-end units: $2,224
• City average rent for high-end units: $2,698
• City average rent for all units: $2,332
• Share of high-end apartments: 75%
• Share of apartments in highly rated areas: 100%

Then, we go back to Seattle for a closer look at zip code 98107, which is another waterfront area that’s a bit further northwest of the city’s downtown. This location includes the southern part of the hip Ballard neighborhood and bits of Fremont. In zip code 98107, renters are expected to pay about $475 below the city average for a nice rental. While this may be over-budget for many out-of-state newcomers, it’s still a good deal for locals as the median household income in Seattle is more than $116,000.

Located about 15 minutes outside of downtown, this area attracts renters thanks to its local vibe, epic craft brews, boutiques and easy access to Seattle’s urban core. Notably, three out of four rentals here fall into the premium category.

5. Zip Code 53718 in Madison, WI

• Zip vs. city rent gap for high-end units: -$468
• Zip code average rent for high-end units: $1,608
• City average rent for high-end units: $2,076
• City average rent for all units: $1,755
• Share of high-end apartments: 96.5%
• Share of apartments in highly rated areas: 100%

Zip code 53718 in Madison, WI, encompasses a long strip of land east of the city’s core, including the town of Burke and lots of green spaces. Nearly all apartments in the area are high-quality, while the average monthly rent in this zip code is $470 below the norm in the city for premium units.

Here, renters can enjoy the numerous parks and the rural feel of some neighborhoods, while families might appreciate the schools in the area.

6. Zip Code 53717 in Madison, WI

• Zip vs. city rent gap for high-end units: -$464
• Zip code average rent for high-end units: $1,612
• City average rent for high-end units: $2,076
• City average rent for all units: $1,755
• Share of high-end apartments: 52.4%
• Share of apartments in highly rated areas: 100%

The sixth zip code on our list, 53717, is in the Far West Side of Madison and also encompasses parts of thriving suburb Middleton. Renters here can enjoy quiet streets and luxury amenities in newly built communities. In fact, more than half of apartments in this zip code are upscale.

Accordingly, apartment hunters can expect to pay about $1,600 per month to rent here. That’s $464 less than the city average for premium units, which makes zip code 53717 a good option to find high-end apartments at lower rents.

7. Zip Code 75287 in Dallas

• Zip vs. city rent gap for high-end units: -$445
• Zip code average rent for high-end units: $1,408
• City average rent for high-end units: $1,854
• City average rent for all units: $1,568
• Share of high-end apartments: 92%
• Share of apartments in highly rated areas: 94.1%

Further south, Dallas zip code 75287 is a great place for renters to find a high-end apartment in a nice neighborhood at a monthly rent that’s approximately $450 below the typical rate for premium rentals in the city. Plus, more than 90% of rentals here are good quality.

Conveniently, this North Dallas enclave is located around the intersection of the President George Bush Turnpike and the Dallas North Tollway. Its well-maintained streets and manicured lawns contribute to the peaceful atmosphere that's perfect for families. Meanwhile, outdoor enthusiasts will love its proximity to biking and hiking trails.

8. Zip Code 98102 in Seattle

• Zip vs. city rent gap for high-end units: -$424
• Zip code average rent for high-end units: $2,275
• City average rent for high-end units: $2,698
• City average rent for all units: $2,332
• Share of high-end apartments: 50.2%
• Share of apartments in highly rated areas: 93.5%

Seattle’s fourth zip code on our list is 98102, which encompasses Eastlake and trendy Capitol Hill. The former is a nice place for renters who work remotely and enjoy great views and quiet times. On the other hand, Capitol Hill is filled with hip spots that make it a great choice for a weekend night out or for socially active renters. And, more than half of the apartments in zip code 98102 are high-end, which increases the chances of finding an upscale rental at a reasonable rate.

Another piece of good news is that rents in this zip code, which is located within walking distance of Seattle’s downtown, are more than $400 below the city average for premium units, coming in at $2,275. While this is well above the national average, it’s still below the norm in Seattle as a city with a higher median income.

9. Zip Code 37214 in Nashville, TN

• Zip vs. city rent gap for high-end units: -$399
• Zip code average rent for high-end units: $1,588
• City average rent for high-end units: $1,987
• City average rent for all units: $1,805
• Share of high-end apartments: 85%
• Share of apartments in highly rated areas: 92.4%

From Seattle we head south to zip code 37214 in Nashville. This area overlaps the Donelson neighborhood, which is located east of downtown and right next to the Nashville International Airport. Here, 85% of apartments are considered premium, even though the average rent is $400 below the typical rate in the city for this unit type. This means that renters have good chances of finding a sweet deal for upscale apartment living without breaking the bank.

Overall, zip code 37214 is mostly a suburban area offering a sense of community and access to hiking trails. At the same time, it counts a few interesting bars and restaurants worth noting for those who enjoy dining out.

10. Zip Code 95125 in San Jose, CA

• Zip vs. city rent gap for high-end units: -$384
• Zip code average rent for high-end units: $2,860
• City average rent for high-end units: $3,244
• City average rent for all units: $3,028 
• Share of high-end apartments: 37.8%
• Share of apartments in highly rated areas: 88.3%

California’s first zip code on our list is 95125 in San Jose, which rounds out our top 10. Located southwest of downtown, it includes the Willow Glen neighborhood and its bustling Lincoln Avenue. Here, more than one-third of apartments are high-end, while the average rent is around $380 below the city norm for this unit type. Although a monthly rent of $2,860 might not be budget-friendly for renters in inland cities, it’s considered attainable in a city with one of the nation’s highest median incomes.

Renters looking for tree-lined streets, occasional festivals and a weekly farmer’s market in the heart of Silicon Valley can take a closer look at this California enclave.

11. Zip Code 95136 in San Jose, CA

• Zip vs. city rent gap for high-end units: -$380
• Zip code average rent for high-end units: $2,864
• City average rent for high-end units: $3,244
• City average rent for all units: $3,028
• Share of high-end apartments: 77.2%
• Share of apartments in highly rated areas: 95.5%

12. Zip Code 77068 in Houston

• Zip vs. city rent gap for high-end units: -$379
• Zip code average rent for high-end units: $1,325
• City average rent for high-end units: $1,704
• City average rent for all units: $1,356
• Share of high-end apartments: 44.8%
• Share of apartments in highly rated areas: 100%

13. Zip Code 30345 in Atlanta

• Zip vs. city rent gap for high-end units: -$378
• Zip code average rent for high-end units: $1,549
• City average rent for high-end units: $1,926
• City average rent for all units: $1,811
• Share of high-end apartments: 71.6%
• Share of apartments in highly rated areas: 53.3%

14. Zip Code 55406 in Minneapolis

• Zip vs. city rent gap for high-end units: -$373
• Zip code average rent for high-end units: $1,564
• City average rent for high-end units: $1,937
• City average rent for all units: $1,688
• Share of high-end apartments: 59.4%
• Share of apartments in highly rated areas: 43%

15. Zip Code 53719 in Madison, WI

• Zip vs. city rent gap for high-end units: -$369
• Zip code average rent for high-end units: $1,706
• City average rent for high-end units: $2,076
• City average rent for all units: $1,755
• Share of high-end apartments: 74.2%
• Share of apartments in highly rated areas: 99%

16. Zip Code 77065 in Houston

• Zip vs. city rent gap for high-end units: -$356
• Zip code average rent for high-end units: $1,348
• City average rent for high-end units: $1,704
• City average rent for all units: $1,356
• Share of high-end apartments: 84.8%
• Share of apartments in highly rated areas: 100%

17. Zip Code 78729 in Austin, TX

• Zip vs. city rent gap for high-end units: -$333
• Zip code average rent for high-end units: $1,439
• City average rent for high-end units: $1,772
• City average rent for all units: $1,616
• Share of high-end apartments: 94%
• Share of apartments in highly rated areas: 100%

18. Zip Code 98115 in Seattle

• Zip vs. city rent gap for high-end units: -$330
• Zip code average rent for high-end units: $2,368
• City average rent for high-end units: $2,698
• City average rent for all units: $2,332
• Share of high-end apartments: 71.1%
• Share of apartments in highly rated areas: 100%

19. Zip Code 79423 in Lubbock, TX

• Zip vs. city rent gap for high-end units: -$327
• Zip code average rent for high-end units: $1,100
• City average rent for high-end units: $1,426
• City average rent for all units: $1,125
• Share of high-end apartments: 85.4%
• Share of apartments in highly rated areas: 51.9%

20. Zip Code 98119 in Seattle

• Zip vs. city rent gap for high-end units: -$310
• Zip code average rent for high-end units: $2,388
• City average rent for high-end units: $2,698
• City average rent for all units: $2,332
• Share of high-end apartments: 62.3%
• Share of apartments in highly rated areas: 100%

Austin, TX, counts most luxury-for-less zips as Southern locations dominate top 10

Renters looking for the best deals for upscale apartments have the most chances of finding their happy place in cities like Austin, TX; Atlanta; and San Antonio. These are the top three cities with the most zip codes for premium living at lower rents. In particular, Austin counts 12 zip codes, while Atlanta and San Antonio are second and third, respectively, with nine zip codes each.

Speaking of Texas, the Lone Star State stands out with the most zip codes (44) where renters are likely to find deals on high-end apartments. Colorado and North Carolina are second and third, respectively, with fewer than 20 zip codes each.

Other Southern cities where apartment hunters have a good chance of catching a sweet deal for an upscale rental are Houston; Raleigh, NC; and Charlotte, NC, with six zip codes each and Louisville, KY, with five zip codes.

Not to be outdone, Western cities also seem to have more abundant opportunities for securing a high-end rental at a below-average cost. For example, Denver has seven zip codes in the luxury-for-less category to rank fourth on our list. Pacific Northwestern cities Seattle and Portland, OR, are also in the top 10 with seven and six zip codes, respectively. In fact, Seattle’s zip codes offer some of the most significant savings for renters, ranging from $200 to nearly $900 per month.

Methodology

RentCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the U.S.

To identify the zip codes with the most upscale apartments at lower rents, RentCafe.com’s research team analyzed 10,000 zip codes and used apartment data provided by Yardi Systems, covering 348 zip codes across the U.S.

The dataset includes market-rate multifamily properties with at least 50 units. Fully affordable housing properties were excluded.

The top 100 zip codes for upscale living on a budget were selected based on a minimum rent difference of $100 between the zip code’s average rent and the citywide average for high-end units. This approach highlights the locations with the greatest affordability advantage within their respective cities.

Location quality and building classifications were determined using Yardi Matrix data. High-end apartments are defined as residences within buildings classified as A+/A/A-/B+ in terms of asset quality, while apartments in highly rated areas are residences within properties in locations rated A+/A/A-/B+/B/B-.

We also used U.S. Census Data to calculate the rent-to-income ratio and the poverty rate metrics to filter the zip codes for the scope of this analysis.

Fair use and redistribution

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