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Renters looking for a place in Dallas-Fort Worth that balances affordability, convenience, and quality of life may want to start in Plano, which was just named the 12th best city to rent in America.

Plano's rental market offers better livability than nearly all other cities in Texas and in the country, according to WalletHub's newly released 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. 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).

Plano has the 7th 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 park system, and its happy-go-lucky residents. The city lagged behind in the "renter market and affordability" category, ranking 78th overall, but that clearly isn't deterring newcomers from moving there.

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

"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.

Elsewhere in the Dallas-Fort Worth Metroplex, Dallas proper ranked as the 71st best place to rent in the U.S. and appeared 13th in Texas. A separate RentCafe study found Dallas has become a hotspot for Gen Z renters searching for good job opportunities, recreation, and good schools.

Here's how other North Texas cities' renter markets stacked up in the national ranking:

• No. 34 – Grand Prairie
• No. 49 – Arlington
• No. 50 – Fort Worth
• No. 66 – Irving
• No. 79 – Garland

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."

Rent prices in DFW have fallen nearly 10 percent since last year, so things might be starting to look up for North Texas renters.

Other Texas cities that ranked among the top 100 best places to rent in America include El Paso (No. 24), Laredo (No. 37), Brownsville (No. 48), Corpus Christi (No. 63), San Antonio (No. 64), and Lubbock (No. 81). Houston ranked as one of the worst cities to rent in America, landing as No. 144 nationally.