50 Largest US Cities by Studio Rent as % of Single Income

[dimondpark]

Interesting.

Rent as Percent of Income--Average Studio Apt Rent(Average Single Income)
43.9% New York-----------$3,016($82,520)
37.1% Miami---------------$2,070($66,871)
30.6% New Orleans-------$1,400($54,813)
29.9% Raleigh-------------$1,750($70,259)
28.7% Boston-------------$2,400($100,420)
28.3% Houston------------$1,500($63,521)
28.3% San Antonio--------$1,150($48,727)
28.1% Los Angeles--------$1,799($76,745)
27.6% Virginia Beach-----$1,580(68,755)
27.3% Detroit--------------$900($39,542)
27.2% Baltimore----------$1,295($57,176)
27.2% Memphis-----------$1,080($47,741)
26.8% Mesa---------------$1,360($69,986)
26.6% Jacksonville--------$1,200($54,121)
26.5% San Diego----------$2,000($90,605)
26.4% Dallas---------------$1,440($65,409)
25.8% Charlotte-----------$1,500($69,914)
25.7% Nashville-----------$1,499($69,894)
25.7% Philadelphia--------$1,250($58,421)
24.9% Fort Worth---------$1,260($60,648)
24.9% Atlanta-------------$1,700($81,911)
24.4% Long Beach--------$1,500($73,722)
23.9% Phoenix------------$1,300($65,331)
23.9% Washington--------$1,990($100,084)
23.8% Las Vegas----------$1,095($55,282)
23.7% Oakland------------$1,800($91,269)
23.3% San Jose-----------$2,200($113,250)
22.6% Sacramento-------$1,450($77,090)
22.6% Chicago------------$1,425($75,984)
22.4% San Francisco-----$2,550($136,860)
21.5% Austin--------------$1,500($83,575)
21.5% Indianapolis-------$1,000($55,753)
20.8% Louisville-----------$900($51,962)
20.3% Portland-----------$1,290($76,193)
20.0% Oklahoma City-----$895($53,600)
19.9% Arlington(TX)-------$875($52,706)
19.6% Denver-------------$1,400($85,674)
19.2% Tucson--------------$750($46,880)
19.1% Tulsa----------------$800($50,312)
18.9% Omaha-------------$845($53,701)
18.6% Fresno--------------$800($58,043)
18.0% El Paso--------------$675($44,930)
17.8% Milwaukee----------$785($52,789)
17.3% Kansas City---------$850($58,980)
17.2% Columbus-----------$849($59,241)
17.2% Colorado Springs---$925($64,679)
16.7% Seattle--------------$1,479($106,369)
16.4% Minneapolis---------$990($72,359)
16.0% Wichita--------------$595($44,509)
15.3% Albuquerque---------$700($54,804)

https://www.renthop.com/studies/rese...g%20%243%2C016.

[Steely Dan]

Interesting data, but it seems like medians would've be more useful here than averages, especially on the income front where some cities have super-clusters of extremely high earners that can badly skew averages.

[chris08876]

Seattle is interesting.

[TWAK]

Originally Posted by Steely Dan

Interesting data, but it seems like medians would've be more useful here than averages, especially on the income front where some cities have super-clusters of extremely high earners that can badly skew averages.

Awe, let Californians have one thread where we get to point the finger at somebody else for cost of living . I'm excited to get angry at Raleigh, like how everybody else gets mad at us for COL.

[Crawford]

Ha, this seems to assume that studios are for singles. Welcome to NYC.

Young singles are in much bigger apartments, in shares. Studios are for older singles or couples.

[pdxtex]

Originally Posted by chris08876

Seattle is interesting.

Seattle isn't as crazy expensive as people think it is if you aren't in the market for a sfh. Plus taxes and hoas aren't too bad. Washington is 1000% more fiscally sound than Oregon or California.

[chris08876]

Originally Posted by pdxtex

Seattle isn't as crazy expensive as people think it is if you aren't in the market for a sfh. Plus taxes and hoas aren't too bad. Washington is 1000% more fiscally sound than Oregon or California.

Yeah I like Washington State. Seattle is a good place. Considering the high paying market out there, compared to most areas, it is kind of a good deal (well, looking at it from NJ eyes that is... its reasonable). And yeah, SFH aside. But even so, if one doesn't mind a 40 minute commute into the CBD, even a SFH is not bad.

Good news is that prices have been dropping. Some listings, asking price dropped by more than 30k. Covid and 2020 over inflated the market, so I'm glad prices are in general dropping across many cities (in general).

Now hopefully we can get the supply up, we need much more of that. Every 1st, 2nd and 3rd tier city in America is underbuilding. A chronic issue.

But anyways, Seattle, considering what you get and in the metro, the high paying jobs... the culture... the urban nature... the topography... with all that... its a place that even if one has to dish out a little more... its worth it. Considering the overall package IMO. Like anything, research and location are massive. And timing... that's important, timing...