The Salary Needed To Afford Rent in 10 of the Largest US Cities ---Good grief!!!!!! [View all]

[UMTerp01]

Dallas, Texas
Income needed to pay rent: $62,700
Average cost of renting a two-bedroom in 2016: $1,463

Philadelphia, Pennsylvania
Income needed to pay rent: $65,100
Average cost of renting a two-bedroom in 2016: $1,519

Chicago, Illinois
Income needed to pay rent: $76,071
Average cost of renting a two-bedroom in 2016: $1,775

Miami, Florida
Income needed to pay rent: $90,300
Average cost of renting a two-bedroom in 2016: $2,107

Seattle, Washington
Income needed to pay rent: $98,271
Average cost of renting a two-bedroom in 2016: $2,293

Washington, D.C.
Income needed to pay rent: $119,271
Average cost of renting a two-bedroom in 2016: $2,783

Boston, Massachusetts
Income needed to pay rent: $120,900
Average cost of renting a two-bedroom in 2016: $2,821

Los Angeles, California
Income needed to pay rent: $145,629
Average cost of renting a two-bedroom in 2016: $3,398

New York, New York
Income needed to pay rent: $158,229
Average cost of renting a two-bedroom in 2016: $3,692

San Francisco, California
Income needed to pay rent: $216,129
Average cost of renting a two-bedroom in 2016: $5,043

http://www.cnbc.com/2016/08/15/the-salary-you-need-to-afford-rent-in-10-of-the-largest-us-cities.html?_source=twitter


This is just ridiculous!!!! This is also why I'm moving. I just refuse to pay as much as I'm paying for a mortgage any longer. I don't even live in Washington DC but in the surrounding area and housing prices are just ridiculous. So my fiance and I just sold our home to move further up north in Maryland. We are getting more than twice the square footage of our recently sold house and we paid half as much for it. I will deal with a longer commute and taking the train into work. My fiance can work remotely most of the time (lucky). Granted these article figures are for 2 bedroom rentals, but if you are a single person you still need to make a somewhat decent income to afford rent in a decent area in those cities, and my fiance and I both make 6 figure incomes. But we want more disposable income and additional money to save and invest.

The disparity and inequality in housing costs is just ridiculous and is the reason fueling the great migration south to areas that have much lower housing costs and the overall cost of living is much cheaper. You are basically driving out anyone who isn't of a certain status and who can't take advantage of all that these cities have to offer socially and culturally. The gentrification of these areas means that they have lost so much of their diversity and its a real shame.