More than a third of all U.S. households are renters.

That number has been steadily climbing in the U.S., and at 36 percent is the highest since the 1960s.

What's more, a higher number of people are committing more than half of their income toward rent, as the supply of new apartments haven't kept up with demand.

With this in mind, WalletHub looked at rental affordability and the quality of life in 150 U.S. cities and ranked the best markets for renters. WalletHub's researchers also looked at the cost of living, job prospects, rental vacancy rates, the percentage of renters in a city and quality of life aspects of a city, such as school rankings, safety, weather and recreation.

Albuquerque, where the average rent is $778, didn't fare too well. WalletHub ranked Albuquerque as the 92nd best place to rent.

The best place for someone to rent right now is Scottsdale, Arizona. In fact, six of the top 10 cities to rent were in Arizona. The worst place to rent is Oakland, California.

While some would believe Albuquerque's rental market is relatively cheap, the reason why Albuquerque's ranking was low was because of its affordability, ranked at No. 99.

In Albuquerque 42.9 percent of all renters spend more than 35 percent of their household income on housing costs, according to research by the Bureau of Business and Economic Research at the University of New Mexico

 Only a quarter of Albuquerque homeowners, on the other hand, spend more than 35 percent of their income on housing costs. Click here to read the full article.