Rental prices are on the rise — and they have reached particularly astonishing heights in major cities.
In a 2016 report, the personal-finance site SmartAsset determines just how much you need to earn to afford the rent on a two-bedroom apartment in the largest U.S. cities.
To calculate the gross income required, the site set the rent-to-income ratio at 28 percent. That percentage is based off of government standards, which define affordability by your not having to spend over 30 percent of your income on housing-related expenses.
Read on to see how much you would have to make before taxes to afford the rent in 15 of the biggest U.S. cities. We have also included the percent change of average rents from 2015 to 2016, provided by SmartAsset, to give you an idea of how much rent is increasing in each city.
The cities are listed in ascending order based on the income required to live there.
Detroit, Michigan
Average cost of renting a two-bedroom in 2016: $886 per month
Percent change from 2015: 7.7%
Income needed to pay rent: $37,971
Phoenix, Arizona
Average cost of renting a two-bedroom in 2016: $1,162 per month
Percent change from 2015: 10.4%
Income needed to pay rent: $49,800
Riverside, California
Average cost of renting a two-bedroom in 2016: $1,239 per month
Percent change from 2015: 4.6%
Income needed to pay rent: $53,100
Houston, Texas
Average cost of renting a two-bedroom in 2016: $1,376 per month
Percent change from 2015: 2.3%
Income needed to pay rent: $58,971
Atlanta, Georgia
Average cost of renting a two-bedroom in 2016: $1,416 per month
Percent change from 2015: 3.5%
Income needed to pay rent: $62,614
Dallas, Texas
Average cost of renting a two-bedroom in 2016: $1,463 per month
Percent change from 2015: 10.2%
Income needed to pay rent: $62,700
Philadelphia, Pennsylvania
Average cost of renting a two-bedroom in 2016: $1,519 per month
Percent change from 2015: -0.5%
Income needed to pay rent: $65,100
Chicago, Illinois
Average cost of renting a two-bedroom in 2016: $1,775 per month
Percent change from 2015: 1.7%
Income needed to pay rent: $76,071
Miami, Florida
Average cost of renting a two-bedroom in 2016: $2,107 per month
Percent change from 2015: 8.7%
Income needed to pay rent: $90,300
Seattle, Washington
Average cost of renting a two-bedroom in 2016: $2,293 per month
Percent change from 2015: 7.3%
Income needed to pay rent: $98,271
Washington, D.C.
Average cost of renting a two-bedroom in 2016: $2,783 per month
Percent change from 2015: 3.7%
Income needed to pay rent: $119,271
Boston, Massachusetts
Average cost of renting a two-bedroom in 2016: $2,821 per month
Percent change from 2015: -0.2%
Income needed to pay rent: $120,900
Los Angeles, California
Average cost of renting a two-bedroom in 2016: $3,398 per month
Percent change from 2015: 17.1%
Income needed to pay rent: $145,629
New York, New York
Average cost of renting a two-bedroom in 2016: $3,692 per month
Percent change from 2015: -0.1%
Income needed to pay rent: $158,229
San Francisco, California
Average cost of renting a two-bedroom in 2016: $5,043 per month
Percent change from 2015: 7.4%
Income needed to pay rent: $216,129