It’s no secret that rents in some cities are way too high, looking at you Virginia Beach, but you may not just how bad things can get in some areas. Luckily for us Smart Asset created a report that's shedding some light on the subject.
According to the report, in seven of the largest U.S. cities, a household will have to earn at least six figures to live comfortably in a two-bedroom apartment. Folks in San Francisco have it the worst, with the average rent for a two-bedroom coming in at $4,382, which means residents need to make $188,000 a year to live comfortably. And, most people aren’t making that, with the household income in San Fran about $103,801.
Below is the list for the income you need in America's 10 largest cities and either the numbers are really going to surprise you or you're going to shake your head and say, "yep".
Income Needed To Pay Rent In America’s Largest Cities
- San Francisco, CA ($187,800)
- New York, NY ($162,386)
- Boston, MA ($143,829)
- San Jose, CA ($123,343)
- Los Angeles, CA ($118,843)
- Washington, DC ($108,300)
- Chicago, IL ($102,043)
- Seattle, WA ($96,214)
- San Diego, CA ($94,586)
- Denver, CO ($73,714)