Four cities in California made the list.Pius Lee/Shutterstock
- 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.
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.
25. Memphis, Tennessee
Average 2-bedroom rent: $769
Annual income needed: $32,957
24. El Paso, Texas
Average 2-bedroom rent: $773
Annual income needed: $33,129
23. Indianapolis, Indiana
Average 2-bedroom rent: $852
Annual income needed: $36,514
22. Columbus, Ohio
Average 2-bedroom rent: $917
Annual income needed: $39,300
21. Phoenix, Arizona
Average 2-bedroom rent: $1,040
Annual income needed: $44,571
20. Jacksonville, Florida
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Average 2-bedroom rent: $1,058
Annual income needed: $45,343
19. San Antonio, Texas
Average 2-bedroom rent: $1,085
Annual income needed: $46,500
18. Fort Worth, Texas
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Average 2-bedroom rent: $1,124
Annual income needed: $48,171
17. Detroit, Michigan
Average 2-bedroom rent: $1,135
Annual income needed: $48,643
16. Charlotte, North Carolina
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Average 2-bedroom rent: $1,175
Annual income needed: $50,357
15. Houston, Texas
Average 2-bedroom rent: $1,205
Annual income needed: $51,643
14. Dallas, Texas
Average 2-bedroom rent: $1,324
Annual income needed: $56,743
13. Nashville, Tennessee
Average 2-bedroom rent: $1,338
Annual income needed: $57,343
12. Austin, Texas
Average 2-bedroom rent: $1,431
Annual income needed: $61,329
11. Philadelphia, Pennsylvania
Average 2-bedroom rent: $1,672
Annual income needed: $71,657
10. Denver, Colorado
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Average 2-bedroom rent: $1,720
Annual income needed: $73,714
9. San Diego, California
Average 2-bedroom rent: $2,207
Annual income needed: $94,586
8. Seattle, Washington
Average 2-bedroom rent: $2,245
Annual income needed: $96,214
7. Chicago, Illinois
Average 2-bedroom rent: $2,381
Annual income needed: $102,043
6. Washington, DC
Average 2-bedroom rent: $2,527
Annual income needed: $108,300
5. Los Angeles, California
Average 2-bedroom rent: $2,773
Annual income needed: $118,843
4. San Jose, California
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Average 2-bedroom rent: $2,878
Annual income needed: $123,343
3. Boston, Massachusetts
Average 2-bedroom rent: $3,356
Annual income needed: $143,829
2. New York, New York
Average 2-bedroom rent: $3,789
Annual income needed: $162,386
1. San Francisco, California
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Average 2-bedroom rent: $4,382
Annual income needed: $187,800
