8 U.S. cities where you must earn at least $100,000 to live comfortably

U.S. rents connected the emergence successful 2025

U.S. rents connected the emergence successful 2025 03:30

With location prices adjacent a grounds high and owe rates remaining elevated, renting a spot to unrecorded astir the U.S. is contiguous considered a better alternative to buying. But here's the catch: Rents are surging, too. 

Zillow calculates that renters request astatine slightest $80,000 successful yearly income to comfortably spend the emblematic flat rental — up from $60,000 successful 2020. And if you privation to unrecorded successful a larger municipality area, flat hunters present request to gain $100,000 oregon much to unrecorded successful Boston, Los Angeles, Miami, New York, San Diego, San Francisco and San Jose, portion adjacent modestly sized Riverside, California, requires six figures for radical to support their heads supra water, according to the existent property firm. 

"Today renters request to marque six figures to spend the emblematic rental successful 8 large metropolitan areas —twice arsenic galore arsenic earlier the pandemic," said Kara Ng, elder economist astatine Zillow. "That means renters person little wealth successful their budgets for essentials similar groceries and transportation, oregon for redeeming for a down payment."

The emblematic guidance is to walk nary much than 30% of your income connected rent. To enactment that successful perspective, that's $2,500 a period for idiosyncratic making $100,000. To enactment beneath the 30% threshold, renters successful the 8 cities listed by Zillow request to marque astatine slightest six figures.

"This Zillow information backs up what each renter has been feeling erstwhile they've been looking for an flat oregon trying to renew their lease," said Rachel Fee, enforcement manager of the New York Housing Conference, a nonprofit that advocates for affordable housing. "Not conscionable successful New York City, but crossed the country, the outgo of lodging is skyrocketing and they conscionable can't support up."

Here's a look astatine wherever astir the state you request to gain six figures to spend the rent — positive cities wherever you mightiness beryllium capable to get distant with a little salary.

Most and slightest expensive 

It's nary astonishment that New York City tops Zillow's list. The Big Apple has successful galore ways has travel to correspond the location affordability crisis. According to the Zillow analysis, New York City dwellers request yearly income of astir $135,000 to beryllium capable to comfortably spend rent. That's astir treble the mean income for a New York City renter, Fee said.

The mean rent successful New York City is $2,950, 59% higher than the nationalist average, according to Zillow data. The metropolis is doing away with broker fees starting this summer, which could springiness renters a spot much wiggle country erstwhile it comes to their flat search. 

The second-priciest metropolis is Boston, wherever renters request to gain $127,000 a twelvemonth to comfortably spend rent, according to Zillow.

Renters successful hunt of much affordable metro areas tin look to cities similar Buffalo, New York, and Oklahoma City, Oklahoma. In those cities, renters request to gain little than fractional of what they would to unrecorded successful New York and Boston – oregon astir $55,000.

Zillow's information drives location however overmuch rents person risen successful caller years. Since April 2020, monthly rent for a emblematic U.S. flat has accrued astir 30% to $1,858. At the aforesaid time, wage maturation implicit that play has lagged, with median yearly income rising 22.5% to astir $82,000, according to the Census Bureau. 

At the halfway of the occupation is the nation's successful capable lodging supply. Even with hundreds of thousands of apartments being constructed each year, it's not capable to support up with demand. 

"We've seen truthful overmuch unit since the pandemic and contention for housing," Fee said. "And the inventory conscionable isn't determination because, again, we're not gathering capable arsenic a nation."

Fee added that to summation the proviso of affordable lodging and wide inventory, Congress needs to instrumentality enactment by expanding programs similar the Low Income Housing Tax Credit, which subsidizes affordable housing. 

"Renters crossed the state are looking to Washington for relief, and Congress has yet to instrumentality immoderate meaningful enactment to summation affordable lodging supply," she told CBS MoneyWatch. 

In:
• Real Estate
• Rents
• Affordable Housing
• New York City
• Housing Crisis