These Are the Only 5 Major Cities Where Rent Is Actually Affordable Right Now

Rent is now unaffordable for many Americans. A recent Redfin analysis found that just 39% of renters make enough to afford the median-priced apartment.

This affordability crisis is particularly dire in major cities. The analysis found that of the 50 most populous metros, rent is only affordable for median-income earners — meaning the median rent costs 30% of their income or less — in five cities.

Here’s a look at the only major cities where the typical renter can actually afford their rent payments.

• Median asking rent: $1,559
• Income required to afford median-priced apartment: $62,360
• Estimated median renter household income: $72,808

• Median asking rent: $1,275
• Income required to afford median-priced apartment: $51,000
• Estimated median renter household income: $56,177

• Median asking rent: $1,541
• Income required to afford median-priced apartment: $61,640
• Estimated median renter household income: $67,302

• Median asking rent: $2,067
• Income required to afford median-priced apartment: $82,680
• Estimated median renter household income: $85,336

• Median asking rent: $1,529
• Income required to afford median-priced apartment: $61,160
• Estimated median renter household income: $61,740

Data is sourced from Redfin and is accurate as of May 2024.