The salary you need to comfortably rent in the 15 most expensive places in the U.S.
Mike Winters @MIKE_WINTRS SHARE Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email urbazon | Getty You’d have to make at least double what most Americans earn to rent a home in large cities such as San Francisco and New York, a new analysis reveals . Based on average rent costs in the 15 most expensive metro areas, Moody’s Analytics determined the annual income needed to “comfortably” rent any type of home. The study defines “comfortable” as needing only 30% of your income to cover housing costs, as is commonly recommended by financial experts . The most expensive city to be a renter is New York City, with an average rent of $4,122, according to Moody’s data, which looks at all sizes of rental units. To afford that, a renter would need to earn $164,870 a year, nearly triple the $59,228 annual median salary that full-time workers make, according to the U.S. Bureau of Labor Statistics . Rent prices have soared n...