Renting property in major cities around the world can prove extremely expensive. A new study from Nested shows the level of annual income a single person would require to rent in 72 prime cities worldwide. It found that many of the very worst cities for renters are American with San Francisco standing out in particular.
The study found that rental costs per square foot in San Francisco come to $4.96 per month with a single tenant needing an annual income of $86,000 to cover his or her rental costs. In New York city, the situation for rentals is also difficult with a single person requiring an income of $82,597 every year to pay the rent. Other U.S. cities high up in the ranking include Washington D.C., Los Angeles and Miami. Hong Kong came third overall with rental costs in the city requiring a healthy annual paycheck of $66,713.
This chart shows the annual income needed for a single person renting in global cities in 2017.
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Source: Statista
