One-third of Americans overpay for housing, and renters have it the worst.
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Here's how much you need to earn to rent a 2-bedroom apartment in 15 of America's biggest cities
If you want to spend less than 30% of your income on rent, here's how much you need to earn.
You need to earn over $100,000 in the 5 most expensive cities.
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In fact, almost half spend over 30% of their incomes on rent, exceeding the standard measure of affordability, according to the 2017 State of the Nation's Housing report, published by the Joint Center for Housing Studies of Harvard University.
In addition to transportation and food, housing is one of the biggest expenses Americans have. Cutting back on these things could mean more savings in the bank and even a ticket to early retirement.
In its latest report, SmartAsset calculated the income needed to afford rent in 15 major US cities. That is, the salary a household must earn to spend a comfortable 28% of its income on rent for a two-bedroom apartment. Rent prices were pulled from RENTCafé's January 2017 report.
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Below, check out how much you need to earn to pay rent in San Francisco, New York, Boston, and 12 more of America's major metro areas.
15. Phoenix, Arizona
Average 2-bedroom rent: $958
Income needed: $41,057
14. Detroit, Michigan
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Average 2-bedroom rent: $1,087
Income needed: $46,586
13. Houston, Texas
Average 2-bedroom rent: $1,088
Income needed: $46,629
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12. Dallas, Texas
Average 2-bedroom rent: $1,204
Income needed: $51,600
11. Atlanta, Georgia
Average 2-bedroom rent: $1,258
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Income needed: $53,914
10. Riverside, California
Average 2-bedroom rent: $1,431
Income needed: $61,329
9. Philadelphia, Pennsylvania
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Average 2-bedroom rent: $1,572
Income needed: $67,371
8. Miami
Average 2-bedroom rent: $1,722
Income needed: $73,800
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7. Seattle, Washington
Average 2-bedroom rent: $2,025
Income needed: $86,786
6. Chicago, Illinois
Average 2-bedroom rent: $2,254
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Income needed: $96,600
5. Washington, DC
Average 2-bedroom rent: $2,416
Income needed: $103,543
4. Los Angeles, California
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Average 2-bedroom rent: $2,556
Income needed: $109,543
3. Boston, Massachusetts
Average 2-bedroom rent: $3,166
Income needed: $135,686
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2. New York, New York
Average 2-bedroom rent: $3,841
Income needed: $164,614
1. San Francisco, California
Average 2-bedroom rent: $4,189
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Income needed: $179,529
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