Irina Klyuchnikova/Shutterstock
You need a six-figure salary to keep rent costs below 30% of your income in California.
- $4 have their work - or wallets - cut out for them.
- GoBankingRates recently revealed the salary renters need to afford $4 in every US state.
- In some states, renters need to earn as much as $100,000. Only four states have a median $4 less than $1,000.
Being a $4 these days isn't fun.
$4 spent a record amount of money on $4, and in some cities, they're dealing with $4.
So just how much of your income should you plan to shell out for rent? The answer depends on where you live.
GoBankingRates recently revealed how big your annual salary needs to be to $4, including Washington, DC. To determine the list, they used the budget rule of thumb that one should spend no more than $4.
They then found the median rent for a single-family residence in each state using the Zillow Rent Index, and calculated how much annual income one needs for rent costs to equal less than 30%.
The top-five states where you need to earn the most money to afford rent are all coastal - and you need to earn six figures to rent in the top two, California and Washington, DC. Meanwhile, the top-five states where you need the lowest salary to pay rent are in the South or Midwest. Four of these are the only states on the list with a median rent less than $1,000, meaning one can earn less than $40,000 and still afford rent.
From Florida to New York, see the salary you need to afford rent in every state, ranked from lowest to highest.