Hint: It's not New York

San Francisco residents have the hardest time affording a two-bedroom apartment, followed by Washingtonians and New Yorkers. This according to a new report from the Urban Institute, which compared rental prices and average incomes in a handful of cities across the country. Here's a chart of the results:

Author Margery Turner suggests that the best urban areas (like Oklahoma City) managed to avoid the "excesses of the boom years" while maintaining a relatively robust economy. D.C., not so much. As Turner writes:

If you live in the DC metro, you need to earn about $60,000 to afford the rent for a typical (modest) two-bedroom apartment. Average earnings just barely exceed that threshold. If you’re a computer professional, you probably earn much more (over $90,000 on average), but if you’re a personal service worker, you may only earn half of what you need to afford that apartment. Disparities are equally stark in San Francisco, but the unemployment rate there is almost 10 percent, compared to only 6 percent in the Washington region.

See the whole post here.

About the Author

Most Popular

  1. photo: a pair of homes in Pittsburgh
    Equity

    The House Flippers of Pittsburgh Try a New Tactic

    As the city’s real estate market heats up, neighborhood groups say that cash investors use building code violations to encourage homeowners to sell.  

  2. Life

    The Cities Americans Want to Flee, and Where They Want to Go

    An Apartment List report reveals the cities apartment-hunters are targeting for their next move—and shows that tales of a California exodus may be overstated.

  3. Life

    Can Toyota Turn Its Utopian Ideal Into a 'Real City'?

    The automaker-turned-mobility-company announced last week it wants to build a living, breathing urban laboratory from the ground up in Japan.

  4. Transportation

    In Paris, a Very Progressive Agenda Is Going Mainstream

    Boosted by big sustainability wins, Mayor Anne Hidalgo is pitching bold plans to make the city center “100 percent bicycle” and turn office space into housing.

  5. Transportation

    Want Better Streets? Just Add Paint.

    Bloomberg Philanthropies’ Asphalt Art Initiative wants to bring a boost of color to the streets of America’s small and mid-size cities.

×