San Fran is not a city for families—it is too expensive. It is not a city for the elderly on a fixed income, it is too expensive. Now we find that it is not a city for the middle class single.
“Interestingly, many of the worst cities for renters can be found in the United States with costs especially high in San Francisco and New York. Nested found that a single tenant in San Francisco would need an annual average income of $86,000 to cover his or her rental costs every year.
The study found that rental costs per square foot in San Francisco come to $4.96 per month while the annual income needed to rent family accommodation adds up to a whopping $163,330.”
How many young people just out of college earn $86,000 a year—enough to live in just above slum housing in the most expensive city in the nation? As you bring your bike into your apartment—you can not afford a car in San Fran—you live in a cramped apartment, but you can tell your friends you have “your own place” in San Fran. Want a great place to live and you can afford? Try Texas—they like people and cars, great jobs and protect their citizens.
Where It Costs Singles The Most To Rent A Home
Niall McCarthy, Forbes Online, 2/20/17
Across the world’s major cities, it’s a well-known fact that renting property can prove extraordinarily expensive. A new study from Nested has shed light on the average annual income required for a single person to rent accommodation in 72 cities worldwide. Interestingly, many of the worst cities for renters can be found in the United States with costs especially high in San Francisco and New York. Nested found that a single tenant in San Francisco would need an annual average income of $86,000 to cover his or her rental costs every year.
The study found that rental costs per square foot in San Francisco come to $4.96 per month while the annual income needed to rent family accommodation adds up to a whopping $163,330. In New York City, a single person would need an average income of $82,597 every year in order to pay the rent. Other U.S. cities in the upper part of the ranking include Washington D.C., Los Angeles and Miami. Hong Kong came third overall with rentals in the city requiring a healthy annual paycheck of $66,713.
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