Earn Less Than $100,000 per Year? You Could Be Priced Out of Rentals in America’s Top 15 Cities

Click here to read the full article.

If you earn less than $100,000 a year, you may find it difficult to secure a rental apartment in the top 15 cities in the United States. In fact, a recent report from Apartment Guide found that households need an annual income of at least $254,000 to rent an average apartment in New York City and $188,000 for a rental in Boston.

Rounding out the top five expensive U.S. cities for rentals are Oakland, California, with income requirements of over $177,000, followed by San Francisco at $173,400 and Los Angeles at $158,000.

Apartment Guide studied the top 50 largest cities and determined average rental costs for one- and two-bedroom apartments in each location.  The average rent in New York City is a staggering $6,351, compared with $4,700 for Boston and $4,336 for San Francisco. The popular national resource that matches renters with apartments uses the widely-accepted “30 percent rule,” meaning people should spend no more than 30 percent of their income on housing.

Continue reading here.

Scroll down for comments and share your thoughts!


What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Xi Jinping Secures Another 5-Year Term as CCP Leader

Growing Number of Governors Reject COVID Vaccines for School Entry After CDC Vote