Rental prices are on the rise – and they have reached particularly astonishing heights in major cities.
In a 2016 report, the personal-finance site SmartAsset determines just how much you need to earn to afford the rent on a two-bedroom apartment in the largest U.S. cities.
To calculate the gross income required, the site set the rent-to-income ratio at 28 percent. That percentage is based off of government standards, which define affordability by your not having to spend over 30 percent of your income on housing-related expenses.
Read on to see how much you would have to make before taxes to afford the rent in 15 of the biggest U.S. cities. We have also included the percent change of average rents from 2015 to 2016, provided by SmartAsset, to give you an idea of how much rent is increasing in each city.
The cities are listed in ascending order based on the income required to live there.