The salary you need to comfortably afford a 2-bedroom apartment in the 25 biggest US cities

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The salary you need to comfortably afford a 2-bedroom apartment in the 25 biggest US cities

San Francisco

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Four cities in California made the list.

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  • SmartAsset found what income is needed to comfortably afford rent for a two-bedroom apartment in 25 cities across the US.
  • The study calculated how much a renter would need to earn to spend no more than 28% of their annual income on rent.
  • In seven cities, renters need to earn more than $100,000.

Rent for a two-bedroom apartment in New York City is more than double the cost of rent in Denver, Colorado.

It's clear that depending on where in the United States you live, rent may take up a bigger portion of your income.

SmartAsset found what income is needed to comfortably afford rent for a two-bedroom apartment in 25 cities across the US. Comfortably, in this case, means spending no more than 28% of annual salary. The data on average apartment costs came from RentCafe.com and is from June 2018.

To be clear, 28% is just a benchmark and is actually lower than the 30% budget many experts recommend. In some cities with expensive housing markets, that figure can be higher. Though you can cut costs by pairing up with a roommate and splitting the rent.

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Below are the top 25 cities with rent costs for a two-bedroom apartment and the annual income you'll need (before taxes) to comfortably afford rent there.

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25. Memphis, Tennessee

25. Memphis, Tennessee

Average 2-bedroom rent: $769

Annual income needed: $32,957

24. El Paso, Texas

24. El Paso, Texas

Average 2-bedroom rent: $773

Annual income needed: $33,129

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23. Indianapolis, Indiana

23. Indianapolis, Indiana

Average 2-bedroom rent: $852

Annual income needed: $36,514

22. Columbus, Ohio

22. Columbus, Ohio

Average 2-bedroom rent: $917

Annual income needed: $39,300

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21. Phoenix, Arizona

21. Phoenix, Arizona

Average 2-bedroom rent: $1,040

Annual income needed: $44,571

20. Jacksonville, Florida

20. Jacksonville, Florida

Average 2-bedroom rent: $1,058

Annual income needed: $45,343

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19. San Antonio, Texas

19. San Antonio, Texas

Average 2-bedroom rent: $1,085

Annual income needed: $46,500

18. Fort Worth, Texas

18. Fort Worth, Texas

Average 2-bedroom rent: $1,124

Annual income needed: $48,171

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17. Detroit, Michigan

17. Detroit, Michigan

Average 2-bedroom rent: $1,135

Annual income needed: $48,643

16. Charlotte, North Carolina

16. Charlotte, North Carolina

Average 2-bedroom rent: $1,175

Annual income needed: $50,357

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15. Houston, Texas

15. Houston, Texas

Average 2-bedroom rent: $1,205

Annual income needed: $51,643

14. Dallas, Texas

14. Dallas, Texas

Average 2-bedroom rent: $1,324

Annual income needed: $56,743

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13. Nashville, Tennessee

13. Nashville, Tennessee

Average 2-bedroom rent: $1,338

Annual income needed: $57,343

12. Austin, Texas

12. Austin, Texas

Average 2-bedroom rent: $1,431

Annual income needed: $61,329

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11. Philadelphia, Pennsylvania

11. Philadelphia, Pennsylvania

Average 2-bedroom rent: $1,672

Annual income needed: $71,657

10. Denver, Colorado

10. Denver, Colorado

Average 2-bedroom rent: $1,720

Annual income needed: $73,714

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9. San Diego, California

9. San Diego, California

Average 2-bedroom rent: $2,207

Annual income needed: $94,586

8. Seattle, Washington

8. Seattle, Washington

Average 2-bedroom rent: $2,245

Annual income needed: $96,214

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7. Chicago, Illinois

7. Chicago, Illinois

Average 2-bedroom rent: $2,381

Annual income needed: $102,043

6. Washington, DC

6. Washington, DC

Average 2-bedroom rent: $2,527

Annual income needed: $108,300

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5. Los Angeles, California

5. Los Angeles, California

Average 2-bedroom rent: $2,773

Annual income needed: $118,843

4. San Jose, California

4. San Jose, California

Average 2-bedroom rent: $2,878

Annual income needed: $123,343

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3. Boston, Massachusetts

3. Boston, Massachusetts

Average 2-bedroom rent: $3,356

Annual income needed: $143,829

2. New York, New York

2. New York, New York

Average 2-bedroom rent: $3,789

Annual income needed: $162,386

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1. San Francisco, California

1. San Francisco, California

Average 2-bedroom rent: $4,382

Annual income needed: $187,800