- The study calculated how much a renter would need to earn to spend no more than 28% of their annual income on rent.
- In eight cities, renters need to earn more than $100,000.
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The salary you need to comfortably afford rent for a two-bedroom apartment in the 25 largest US cities, ranked
SmartAsset found what income is needed to comfortably afford rent for a two-bedroom apartment in the 25 largest US cities.
San Francisco
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Rent for the average two-bedroom apartment in San Francisco, California , 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 larger portion of your income .
SmartAsset found what income you need to comfortably afford the rent for a two-bedroom apartment in the 25 largest cities, by population, across the country.
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Comfortably, in this case, means spending no more than 28% of your annual salary on rent. The data on average two-bedroom apartment costs came from Zillow and is from April 2019.
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 unavoidably higher though you can cut costs by pairing up with a roommate and splitting the rent.
Keep reading to see how much a two-bedroom apartment costs in the 25 largest US cities, ranked from the lowest to the highest annual income you'll need (before taxes) to comfortably afford that rent in each.
25. Memphis, Tennessee
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Average two-bedroom rent : $814
Annual income needed: $34,886
24. Detroit, Michigan
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Average two-bedroom rent : $831
Annual income needed: $35,614
23. El Paso, Texas
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Average two-bedroom rent : $875
Annual income needed: $37,500
22. Indianapolis, Indiana
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Average two-bedroom rent : $915
Annual income needed: $39,214
21. Columbus, Ohio
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Average two-bedroom rent : $1,050
Annual income needed: $45,000
20. San Antonio, Texas
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Average two-bedroom rent : $1,229
Annual income needed: $52,671
19. Phoenix, Arizona
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Average two-bedroom rent : $1,250
Annual income needed: $53,571
18. Jacksonville, Florida
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Paul Brennan/Shutterstock
Average two-bedroom rent : $1,279
Annual income needed: $54,793
17. Nashville, Tennessee
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Average two-bedroom rent : $1,500
Annual income needed: $64,286
16. Houston, Texas
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Average two-bedroom rent : $1,525
Annual income needed: $65,357
15. Charlotte, North Carolina
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Average two-bedroom rent : $1,526
Annual income needed: $65,400
14. Fort Worth, Texas
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Average two-bedroom rent : $1,600
Annual income needed: $68,571
T14. Austin, Texas
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Average two-bedroom rent : $1,600
Annual income needed: $68,571
12. Philadelphia, Pennsylvania
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Average two-bedroom rent : $1,691
Annual income needed: $72,450
11. Dallas, Texas
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Average two-bedroom rent : $1,850
Annual income needed: $79,286
10. Chicago, Illinois
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Average two-bedroom rent : $1,895
Annual income needed: $81,214
9. Denver, Colorado
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Average two-bedroom rent : $2,151
Annual income needed: $92,164
8. San Diego, California
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Average two-bedroom rent : $2,477
Annual income needed: $106,136
7. Boston, Massachusetts
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Average two-bedroom rent : $2,500
Annual income needed: $107,143
6. Seattle, Washington
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Average two-bedroom rent : $2,753
Annual income needed: $117,986
5. Los Angeles, California
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Average two-bedroom rent : $3,000
Annual income needed: $128,571
4. San Jose, California
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Average two-bedroom rent : $3,088
Annual income needed: $132,343
3. Washington, DC
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Average two-bedroom rent : $3,100
Annual income needed: $132,857
2. New York, New York (Manhattan only)
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Average two-bedroom rent (Manhattan only): $3,800
Annual income needed: $162,857
1. San Francisco, California
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Sergey Novikov/Shutterstock
Average two-bedroom rent : $4,593
Annual income needed: $196,843
See Also:
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SEE ALSO: Here's how much space $1,000 in rent will get you in 11 major US cities
DON'T MISS: The 10 most difficult places to invest in real estate in the US right now
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