Here’s How Much You Need To Earn To Afford a 2 Bed Apartment In These 15 Top Cities
According to the personal-finance site SmartAsset, you have to earn over $150,000 a year to afford rent on a two-bedroom apartment in New York City.
In its new report, the site looked at the average fair market rent (the average cost of renting an available apartment in 2016) for two-bedroom apartments in the 300 largest US cities, then focused on the main cities within the 15 largest metro areas.
15. Detroit
Fair market rent for a two-bedroom: $886 a month
Income required: $37,971
14. Phoenix
Fair market rent for a two-bedroom: $1,162 a month
Income required: $49,800
13. Riverside, California
Fair market rent for a two-bedroom: $1,239 a month
Income required: $53,100
12. Houston
Fair market rent for a two-bedroom: $1,376 a month
Income required: $58,971
11. Atlanta
Fair market rent for a two-bedroom: $1,461 a month
Income required: $62,614
10. Dallas
Fair market rent for a two-bedroom: $1,463 a month
Income required: $62,700
9. Philadelphia
Fair market rent for a two-bedroom: $1,519 a month
Income required: $65,100
8. Chicago
Fair market rent for a two-bedroom: $1,775 a month
Income required: $76,071
7. Miami
Fair market rent for a two-bedroom: $2,107 a month
Income required: $90,300
6. Seattle
Fair market rent for a two-bedroom: $2,293 a month
Income required: $98,271
5. Washington, D.C.
Fair market rent for a two-bedroom: $2,783 a month
Income required: $119,271
4. Boston
Fair market rent for a two-bedroom: $2,821 a month
Income required: $120,900
3. Los Angeles
Fair market rent for a two-bedroom: $3,398 a month
Income required: $145,629
2. New York City
Fair market rent for a two-bedroom: $3,692 a month
Income required: $158,229
1. San Francisco
Fair market rent for a two-bedroom: $5,043 a month
Income required: $216,129
via BI | Lead image: Shutterstock
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