25 Places Where the Average Person Cannot Afford Rent

Americans are spending a greater portion of their monthly paycheck on rent than ever before. According to The State of the Nation’s Housing 2023, published by Harvard’s Joint Center for Housing Studies, a total of 21.6 million households spend more than 30% of pre-tax income on rent. Some households are even paying up to 50% of their income on rent payments.

Nationwide, the median asking rent for a two-to-four-bedroom apartment was $2,300, up by $4.5% year-over-year, according to CoreLogic, and nearly 70% of renter households have a gross family income that’s less than the U.S. median. The percentage of income the average household spends on rent varies from city to city, but some areas are now out of reach for the average earner.

GOBankingRates analyzed the top 100 U.S. cities by population to find the 25 places where the average person can’t afford rent. The 50/30/20 budgeting rule was used as a guideline, where 50% of income should cover necessities, such as the cost of basic expenditures and rent. The deficit is 50% of the mean income minus the cost of expenditures and rent.

To afford rent, households should have an income that’s double the total cost of expenditures and rent. Here are the results of the GOBankingRates study.

• Mean income: $95,035
• Annual expenditures: $26,280.75
• Annual rent: $26,917.90
• Total: $53,198.66
• Deficit: $5,681.16

• Mean income: $105,724 
• Annual expenditures: $30,541.58 
• Annual rent: $28,159.34
• Total: $58,700.92
• Deficit: $5,838.92

• Mean income: $78,778
• Annual expenditures: $23,977.97
• Annual rent: $21,466.48 
• Total: $45,444.45 
• Deficit: $6,055.45

• Mean income: $119,725
• Annual expenditures: $27,758.77
• Annual rent: $38,189.36
• Total: $65,948.13
• Deficit: $6,085.63

• Mean income: $76,715
• Annual expenditures: $24,803.85
• Annual rent: $19,873.01
• Total: $44,676.87
• Deficit: $6,319.37

• Mean income: $77,982
• Annual expenditures: $23,289.02
• Annual rent: $22,324.72
• Total: $45,613.74
• Deficit: $6,622.74

• Mean income: $61,529
• Annual expenditures: $22,453.91
• Annual rent: $15,206.96
• Total: $37,660.86
• Deficit: $6,896.36

• Mean income: $96,476
• Annual expenditures: $25,814.60
• Annual rent: $29,388.73
• Total: $55,203.33
• Deficit: $6,965.33

• Mean income: $53,917
• Annual expenditures: $20,733.76
• Annual rent: $13,382.91
• Total: $34,116.67
• Deficit: $7,158.17

• Mean income: $112,354
• Annual expenditures: $24,936.28
• Annual rent: $38,432.81
• Total: $63,369.09
• Deficit: $7,192.09

• Mean income: $83,774
• Annual expenditures: $24,802.10
• Annual rent: $24,755.19
• Total: $49,557.28
• Deficit: $7,670.28

• Mean income: $63,665
• Annual expenditures: $21,681.54
• Annual rent: $18,307.32
• Total: $39,988.86
• Deficit: $8,156.36

• Mean income: $77,454
• Annual expenditures: $26,585.42
• Annual rent: $20,327.90
• Total: $46,913.33
• Deficit: $8,186.33

• Mean income: $106,931
• Annual expenditures: $26,959.20
• Annual rent: $34,941.50
• Total: $61,900.70
• Deficit: $8,435.20

• Mean income: $78,202
• Annual expenditures: $24,933.04
• Annual rent: $22,909.26
• Total: $47,842.30
• Deficit: $8,741.30

• Mean income: $59,373
• Annual expenditures: $23,199.73
• Annual rent: $15,297.62
• Total: $38,497.35
• Deficit: $8,810.85

• Mean income: $61,174
• Annual expenditures: $23,764.53
• Annual rent: $15,635.27
• Total: $39,399.80
• Deficit: $8,812.80

• Mean income: $94,914
• Annual expenditures: $23,557
• Annual rent: $33,607.33
• Total: $57,165.02
• Deficit: $9,708.02

• Mean income: $70,063
• Annual expenditures: $23,380.76
• Annual rent: $23,724.60
• Total: $47,105.36
• Deficit: $12,073.86

• Mean income: $49,942
• Annual expenditures: $20,786.48
• Annual rent: $16,333.34
• Total: $37,119.82
• Deficit: $12,148.82

• Mean income: $49,515
• Annual expenditures: $26,340.41
• Annual rent: $15,684.42
• Total: $42,024.82
• Deficit: $17,267.32

• Mean income: $113,315
• Annual expenditures: $33,554.24
• Annual rent: $43,718.37
• Total: $77,272.61
• Deficit: $20,615.11

• Mean income: $57,400
• Annual expenditures: $27,756.96
• Annual rent: $23,638.96
• Total: $51,395.92
• Deficit: $22,695.92

• Mean income: $79,886
• Annual expenditures: $26,596.14
• Annual rent: $37,247.80
• Total: $63,843.94
• Deficit: $23,900.94

• Mean income: $59,447
• Annual expenditures: $26,370.31
• Annual rent: $32,294.05
• Total: $58,664.36
• Deficit: $28,940.86