Renters looking for a place in Central Texas that balances affordability, convenience, and quality of life may want to start in Austin, which has been named the 13th best city to rent in America.

Austin's rental market offers some of the best livability in Texas and in the country, according to WalletHub's July report "Best & Worst Places to Rent in America." Experts analyzed 182 U.S. rental markets based on 21 relevant metrics, including the difference between rental rates and mortgage payments, rental affordability, the local cost of living, job availability, and more.

Surprisingly, Amarillo was deemed the No. 1 best Texas city for renters, and it ranked 10th nationally. Hot Dallas suburb Plano came in second place statewide and ranks 12th for a second year in a row, leaving Austin in third place and 13th overall (up from No. 31 last year).

Austin has the 26th best quality of life out of all 182 U.S. cities in the report, which should come as no surprise considering the strength of its local job market, its high-quality parks, and its entertaining nightlife scene. Additionally, the city ranked 33rd nationally in the report's "renter market and affordability" category.

Rent prices in the top cities cost tenants as little as 15 percent of their income. But WalletHub analyst Chip Lupo said the best cities for renters offer much more than inexpensive housing, a good job market, and recreational activities.

"You’ll also have access to robust laws that protect renters, such as limiting deposits to only a month or two of rent," Lupo added.

Austin has one of the fastest-growing renter markets in the country, and a separate RentCafe study found the city has become a magnet for Gen Z renters searching for good job opportunities, recreation, and good schools. And now that local rent prices are declining, things might be starting to look up for Austin-area renters.

Though renting can be more cost effective than owning a property, WalletHub said it's not always a better choice.

"The right road to take depends on a variety of factors, including an individual’s or family’s financial means and how well the local real-estate market is doing," the report said. "Like home prices, rental rates can vary significantly by region, state or city."

Other Texas cities that ranked among the top 100 best places to rent in America include:

• No. 24 – El Paso
• No. 34 – Grand Prairie
• No. 37 – Laredo
• No. 48 – Brownsville
• No. 49 – Arlington
• No. 50 – Fort Worth
• No. 63 – Corpus Christi
• No. 64 – San Antonio
• No. 66 – Irving
• No. 71 – Dallas
• No. 79 – Garland
• No. 81 – Lubbock

At the bottom end of the ranking, Houston ranked as one of the worst cities to rent in America and landed 144th nationally.