Cost is a big consideration for renters in choosing a location. However, a recent report from Rentcafe indicates today's renters are seeking more than just an affordable rental location. In fact, renters are seeking the appropriate balance between income and expenses.

For starters, the analysis examined components such as median income, average rent, and average prices for necessities such as utilities, food, healthcare, transportation, and goods in services, in 189 cities nationwide. Next, income-to-rent ratio was calculated for each city. Then, the disposable income left after paying rent was determined to see how well necessities could be covered each month.

Sunnyvale, CA was determined the city where renters can get the most out of their income. Located in the heart of Silicon Valley, Sunnyvale has the highest median wages in the nation, triple the nation's median income. Average renter household income in Sunnyvale is just under $146,000 and monthly rent is about $3,000. While the monthly rent in this city is 76% higher than the average, the total price for basics came in at only 28% more than the national average.