SmartAsset recently released a study that shows the percentage of income necessary to pay rent in America's largest cities. Staffer Amanda Dixon explains some of the trends that were seen on the list this year such as three cities seeing their average rental rates fall between this year and last as well as rising rates in the Southwest.
According to the study, San Francisco is the place where the most of your income will go towards paying rent:
If you’re moving to San Francisco, be prepared to spend a significant portion of your salary on housing. You’ll find the country’s most expensive rental markets in the Golden City. To afford a two-bedroom apartment, you’ll need to make at least $216,129 annually.
While rental rates have increased in recent years, wages haven’t kept up. The median household income in the city is only $78,378.