Want to live comfortably in Washington, D.C.? In order to avoid paying more than 30 percent or more of one's income on a two-bedroom apartment, the necessary income is $119,271, according to a new report from SmartAsset. In 2015, SmartAsset reported that the income needed was $114,986. According to DCist, the median household income in Washington, D.C. in 2014 was $71,648.
According to the study, a two-bedroom apartment costs an average $2,683. By having a single roommate in Washington, D.C., that can save one roughly $600 each month.
Topping the list of most expensive Metro areas for renting was San Francisco, New York, Los Angeles, and Boston, in order from most to least pricey. Washington, D.C. ranked as the fifth most expensive Metro area.
• The Income Needed to Pay Rent in the Largest U.S. Cities [SmartAsset]
• Study: Households Need To Make More Than $119,000 To Rent In D.C. [DCist]