Luxury for less: Best U.S. ZIP codes to find deals on upscale apartments

SvetlanaSF // Shutterstock Finding a stylish apartment with excellent amenities in a desirable neighborhood at a reasonable price is a goal for many renters. However, not many realize that such opportunities exist. Highlights: Austin, Texas, leads the nation in the number of ZIP codes where high-quality apartments are available at budget-friendly prices. Texas boasts the highest concentration of locations for upscale living at lower rents, featuring 44 ZIP codes, followed by Colorado with 19. In Seattle ZIP code 98116, renters can enjoy the most substantial savings for premium apartments–roughly $880 less than the city’s average for upscale units. The top 100 ZIP codes for luxury renting at lower rents provide monthly rates that are approximately $120 to around $880 below the citywide norms for high-end apartments. As peak moving season approaches, RentCafe.com conducted an analysis of ZIP codes across the U.S. to uncover urban areas where high-end apartments come with below-average price tags. The research identified 200 ZIP codes where renters can secure premium apartments in great locations at lower monthly costs. Where are these affordable luxury rentals? RentCafe.com Nearly half of these ZIP codes are found in Western and Southwestern cities. Specifically, Austin, Texas, takes the top spot with 12 ZIP codes offering high-end apartments at reduced rents. Next, Atlanta and San Antonio follow closely, each featuring nine ZIP codes, while Denver boasts seven. Another city where renters can find premium apartments for less is Seattle, with seven ZIP codes securing spots on the list. This reinforces its reputation as a thriving tech hub where renters can enjoy upscale living at below-market rates — helped in part by the area’s strong income levels. Meanwhile, Houston is another hotspot, offering six ZIP codes where renters can find luxury living at a discount. On a state level, Texas takes the top spot with the most ZIP codes where renters can find upscale apartments at below-average costs. The 44 ZIP codes in Texas far surpass Colorado (19 ZIP codes) and North Carolina (16 ZIP codes), which follow behind. To create the list, the RentCafe.com research team evaluated about 10,000 ZIP codes, narrowing the selection to locations with a strong presence of high-quality apartments in sought-after neighborhoods. The focus was solely on areas where: The average rent was lower than the citywide norm for premium apartments. Monthly rent expenses made up less than one-third of the median household income in the area. This approach helped pinpoint the ZIP codes that offer the best savings — locations where high-end rental prices significantly undercut the city average. Best places to rent luxury apartments at a discount RentCafe.com While Austin, Texas, has the most luxury-for-less ZIP codes, some cities stand out for offering the biggest savings on upscale apartments. For example, Seattle; Scottsdale, Arizona; and Madison, Wisconsin, feature luxury units priced well below the city average for premium living, making them top destinations for high-end rentals at reasonable rates. Seattle’s 98116, with its scenic coastal location in West Seattle, ranks as the best ZIP code for renting an upscale apartment at a reduced rate. Covering the Seaview and Fairmount Park neighborhoods, this area features typical rents nearly $880 below the citywide average for luxury apartments. Almost all the rental properties here are high-end, with 100% of apartments located in top-rated neighborhoods. Other leading locations include Minneapolis; Dallas; Nashville, Tennessee; and Houston. The 10 best ZIP codes for high-end apartments at lower rents These ZIP codes offer renters the best chances of securing a great deal on an upscale 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 Covering a large portion of Seattle’s west side just beneath Elliot Bay, ZIP code 98116 offers renters an excellent chance of securing a high-end apartment, as nearly all properties here fall into the luxury category. The average monthly rent in this ZIP code stands at $1,823, which is $875 lower than Seattle’s typical rent for upscale units. While this might still be pricey for some renters, it presents a solid deal in a city where median incomes surpass the national benchmark. Additionally, residents in this area enjoy a scenic waterfront setting with beaches, parks, and a plaza featuring Seattle’s own 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 Seattle’s ZIP code 98126, which spans parts of Delridge and West Seattle, ranks as the second-best location for renting luxury apartments at below-average prices. Specifically, the typical rent here is $800 lower than the citywide cost for high-end units, and over two-thirds of rentals in this area are classified as upscale. This ZIP code is known for offering a more relaxed, welcoming atmosphere compared to Capitol Hill or Fremont, making it a great spot for those looking for a homier feel. Additionally, the area boasts a variety of restaurants and is set to benefit from a new light rail extension that has been planned for years. 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 Encompassing part of Central Scottsdale and the scenic Scottsdale Mountain, ZIP code 85259 offers premium rentals at a $581 discount compared to the city’s average for luxury apartments. It is also home to one of the three Mayo Clinic locations, which may add to its appeal. Here, a remarkable 90% of apartments are considered high-end, providing renters with plenty of options for upscale living at a lower cost. The abundance of modern amenities in these rentals further enhances the appeal of this sunny and sought-after community. 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 Heading back to Seattle, ZIP code 98107 is another waterfront area located northwest of downtown. It covers parts of the trendy Ballard neighborhood as well as sections of Fremont. Here, renters can expect to pay around $475 less than the city’s average for luxury apartments. While these prices might still be steep for out-of-state newcomers, they offer good value for locals, given that Seattle’s median household income exceeds $116,000. Situated roughly 15 minutes from downtown, this neighborhood is known for its local charm, craft breweries, boutiques, and convenient access to the city’s urban core. Additionally, 75% of apartments in this area fall into the high-end category. 5. ZIP code 53718 in Madison, Wisconsin 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 Located east of Madison’s city center, ZIP code 53718 includes the town of Burke and an abundance of green spaces. Nearly all apartments in this area are classified as high-quality rentals, with monthly rents averaging $470 below the citywide price for premium units. This ZIP code is an attractive option for those who appreciate outdoor activities thanks to its numerous parks and a more suburban feel. Additionally, families looking for a rental in Madison may find this area appealing due to schools available nearby. 6. ZIP code 53717 in Madison, Wisconsin 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 Situated in the Far West Side of Madison and extending into parts of Middleton, Wisconsin, ZIP code 53717 offers a mix of quiet suburban living and modern apartment communities. More than half of the rentals in this ZIP code fall into the high-end category. With an average rent of $1,612 per month, renters in this area save about $464 compared to the citywide average for luxury units. Those seeking a peaceful neighborhood with access to premium amenities will find this area an excellent choice. 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 Seventh on the list is ZIP code 75287, located in North Dallas. The area is an ideal destination for those looking to rent an upscale apartment at a $450 discount compared to the city’s typical price for high-end units. Additionally, more than 90% of apartments here are considered high-quality. This area is well-connected, positioned near the intersection of the President George Bush Turnpike and the Dallas North Tollway. Its well-kept streets, manicured lawns, and peaceful environment make it an excellent spot for families. At the same time, outdoor enthusiasts will also appreciate its proximity to a variety of 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 The fourth Seattle ZIP code on RentCafe.com’s list, 98102, includes the Eastlake and Capitol Hill neighborhoods. While Eastlake is a favorite for renters who work remotely and enjoy scenic waterfront views, Capitol Hill is known for its epic nightlife and social scene. In ZIP code 98102, more than 50% of apartments fall into the luxury category, providing plenty of opportunities for upscale renting. The average rent of $2,275 per month is $424 lower than the city’s standard for premium units. While still above the national average, these savings make high-end living more accessible in Seattle, where incomes tend to be higher than the U.S. median. 9. ZIP Code 37214 in Nashville, Tennessee  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 Heading south, ZIP code 37214 in Nashville is home to the Donelson neighborhood, located just east of downtown and near the Nashville International Airport. Here, 85% of apartments are considered high-end, yet the average rent is $400 below the city’s luxury apartment average. This mostly suburban area provides a strong sense of community while also offering access to nature trails and outdoor recreation. Additionally, for those who enjoy dining out, there are also several notable restaurants and bars in the area, adding to its appeal for renters seeking a balanced lifestyle. 10. ZIP code 95125 in San Jose, California 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 Rounding out the top 10 is San Jose’s 95125 ZIP code, which includes the Willow Glen neighborhood and its lively Lincoln Avenue. This area offers plenty of green spaces, local festivals, and a bustling farmer’s market, making it an attractive option for renters. Also, more than one-third of apartments here are high-end, with rents averaging $380 less than the citywide cost for premium units. While a monthly rent of $2,860 might seem high compared to other regions, it is considered reasonable in a metro area with one of the highest median incomes in the country. So, renters looking for a blend of community charm and convenient access to Silicon Valley’s tech hub will find this neighborhood an appealing choice. Methodology  To determine which ZIP codes offer the most upscale apartments at lower rents, RentCafe.com’s research team analyzed 10,000 ZIP codes using apartment data from Yardi Systems, ultimately focusing on 348 ZIP codes nationwide. The analysis includes market-rate multifamily properties with at least 50 units, excluding fully affordable housing properties.  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 identifies areas where renters can find luxury living at lower prices.  Location quality and building classifications were determined using Yardi Matrix data. High-end apartments are defined as residences in buildings rated A+/A/A-/B+ in asset quality, while highly rated locations include properties in areas classified as A+/A/A-/B+/B/B-. All data is accurate as of the publication date. Additionally, Census data was used to calculate rent-to-income ratios and poverty rates, ensuring that the selected ZIP codes meet the criteria for this study. This story was produced by RentCafe.com and reviewed and distributed by Stacker.