This Is How Much You Need to Earn to Rent in a Big City

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The housing market has begun to slow following a near 20-month surge of skyrocketing prices. However, many Americans are still struggling to find affordable housing, especially in the country’s priciest cities.



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A recent report by Apartment Guide calculated how much you need to earn to afford rent in America’s most expensive cities, and the results are staggering.

The site used the 30% rule (which states that you can determine how much you need to earn to afford to live in a certain place, assuming you spend 30% of your income on rent).

It’s no shock that New York City came in at No. 1 — and by a lot.

1. New York City

Average rent: $6,351

Salary needed using 30% rule: $254,040

2. Boston

Average rent: $4,700

Salary needed using 30% rule: $188,009

3. Oakland, CA

Average rent: $4,430

Salary needed using 30% rule: $177,204

4. San Francisco, CA

Average rent: $4,336

Salary needed using 30% rule: $173,443

5. Los Angeles, CA

Average rent: $3,952

Salary needed using 30% rule: $158,064

6. San Diego, CA

Average rent: $3,913

Salary needed using 30% rule: $156,506

7. Seattle, WA

Average rent: $3,614

Salary needed using 30% rule: $144,549

8. San Jose, CA

Average rent: $3,517

Salary needed using 30% rule: $140,667

9. Santa Ana, CA

Average rent: $2,988

Salary needed using 30% rule: $119,539

10. Chicago, IL

Average rent: $2,947

Salary needed using 30% rule: $117,891

11. Washington D.C.

Average rent: $2,830

Salary needed using 30% rule: $113,181

12. Denver, CO

Average rent: $2,763

Salary needed using 30% rule: $110,505

13. Sacramento, CA

Average rent: $2,631

Salary needed using 30% rule: $105,248

14. Portland, OR

Average rent: $2,529

Salary needed using 30% rule: $101,171

15. Miami, FL

Average rent: $2,507

Salary needed using 30% rule: $100,285

16. Nashville, TN

Average rent: $2,370

Salary needed using 30% rule: $94,785

17. Philadelphia, PA

Average rent: $2,347

Salary needed using 30% rule: $93,878

18. Atlanta, GA

Average rent: $2,215

Salary needed using 30% rule: $88,599

19. New Orleans, LA

Average rent: $2,112

Salary needed using 30% rule: $84,461

20. Dallas, TX

Average rent: $2,091

Salary needed using 30% rule: $83,625





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