June 09, 2025
As rental prices skyrocket across the country, a new report from Zillow reveals that renters now need to earn over $100,000 a year just to afford a median-priced apartment in eight U.S. metro areas.
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That’s right—six figures, just to rent.
Since 2020, cities like Los Angeles, San Diego, Riverside, and Miami have joined the high-rent club, alongside long-time expensive metros like New York, Boston, San Francisco, and San Jose. In L.A.
you now need to make $119,000 a year to comfortably afford the median rent of nearly $3,000. Even in Miami, where rent is slightly less, an income of $110,000 is required to keep housing costs under 30% of your take-home.
Zillow’s senior economist put it plainly: rents have far outpaced wage growth over the past few years. And that’s putting renters—especially those trying to save for a future home—in a tight spot.
Nationwide, the salary needed to afford the median rent is now $81,000, up 34% since 2020, while wages have only climbed about 23%.
And here’s the kicker: in places like NYC and Miami, renters are often paying more than 40% of their income just to live in a standard apartment.
That leaves very little wiggle room for savings, emergencies, or long-term planning.
But it’s not all doom and gloom. There are still a few pockets of affordability.
Cities like Buffalo, Oklahoma City, and Louisville offer median rents that require less than 23% of household income. Households earning under $60K can still breathe a little easier in those markets.
For renters and future buyers alike, these trends highlight just how important it is to plan ahead—and maybe rethink where you want to call home.
Whether you’re considering relocating for affordability or aiming to become a homeowner in the next few years, understanding the income-to-rent ratio is a critical first step.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
