Monday, October 10, 2016

How Much Does It Cost To Live Comfortably In America's Largest Cities?

From Smart Asset:
To find out how much households need to make to pay the rent, we looked at April 2016 fair market rents for two-bedroom apartments in the 300 largest U.S. cities.

The Department of Housing and Urban Development (HUD) uses a 30% threshold to identify which housing is affordable. Households that spend more than 30% of their income on housing costs are considered cost-burdened households. When they spend 50% or more of their income on housing-related expenses, they fall into the category of severely cost-burdened households.

San Francisco, New York and Los Angeles top the list of most expensive cities to rent in.

Take a look at the list above. Any surprises?

(h/t kenneth-in-the-212)

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