Here's the income you need to comfortably pay rent on a 2-bedroom apartment in the 15 largest US cities
Shutterstock
New York City is beautiful - but it comes with a price.
City life isn't cheap.
According to 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 zeroed in on the main cities within the 15 largest metro areas.
To calculate the income required, SmartAsset set the rent-to-income ratio at 28% - that percentage is based off of government standards, which say that housing is affordable if you don't have to spend over 30% of your income on housing-related expenses.
Read on to see how much you would have to make (after taxes) to afford rent in 15 major US cities.
Next Story
I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
Vodafone Idea FPO allotment – How to check allotment, GMP and more
Vodafone Idea shares jump nearly 8%
Indians can now get multiple entry Schengen visa with longer validity as EU eases norms
Investing Guide: Building an aggressive portfolio with Special Situation Funds
Markets climb in early trade on firm global trends; extend winning momentum to 3rd day running
Impact of AI on Art and Creativity
