How long it takes to cover rent in major U.S. cities

By Matthew Tarpey

imagesMost experts agree that about one-third of your salary should go toward paying rent. Unfortunately, in some cities that’s a tough goal to achieve.

Using data from Economic Modeling Specialists International, along with average rent costs provided by numbeo.com, we’ve determined how many hours in the office it takes for a person making an average salary to cover the average rent in the 10 biggest U.S. cities. The numbers are based on a 40-hour workweek and a 50-week work year. Keep in mind that working 40 hours a week adds up to about 160 hours in the office each month.

1. New York: Average earnings: $69,400, Average hourly salary: $34.70, Average apartment rent (1 bedroom, in city center): $2,675*

Hours to cover rent: 77.1

2. Los Angeles: Average earnings: $56,400, Average hourly salary: $28.20, Average apartment rent (1 bedroom, in city center): $1,425

Hours to cover rent: 50.5

3. Chicago: Average earnings: $57,800, Average hourly salary: $28.90, Average apartment rent (1 bedroom, in city center): $1,500

Hours to cover rent: 51.9

4. Houston: Average earnings: $61,200, Average hourly salary: $30.60, Average apartment rent (1 bedroom, in city center): $1,200

Hours to cover rent: 39.2

Read More MSN Careers – How long it takes to cover rent in major U.S. cities – Career Advice Article.

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About The Soul Brother

An observer to the world. I have a unique view of the world and want to share it. It's all in love from the people of the "blues". Love, Knowledge, and Sharing amongst all is the first steps towards solving all the problems amongst humanity.
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