The Salary You’ll Need to Live Comfortably in These Top 5 Cities

Choosing the right city to call home isn’t just about lifestyle, it’s also about financial fit. The cost of living and average rent varies drastically depending on the location. Whether you’re drawn to the bustling energy of New York or the spacious living of Dallas, each comes with its own price tag.

Check out these top five U.S. cities, based on search volume on Apartments.com, and how much you’ll need to earn to live comfortably by breaking down the typical monthly expenses and the city’s cost of living. See how far above or below the national average rent of $1,638 you should expect to pay for rent. This will help you understand what you need to do to live comfortably, whether it’s budgeting or finding a more affordable neighborhood.

• Los Angeles, CA
• New York, NY
• Chicago, IL
• Dallas, TX
• Boston, MA

Los Angeles, CA

• Income needed to live comfortably: $85,824
• Average monthly expenses: $7,152/month
• Cost of living Los Angeles vs. national average: +49.7%
• Average rent in Los Angeles: $2,186/month
• Average rent compared to national average: +33%

Los Angeles is one of the top cities for renters for a reason with the sunny weather, creative energy, and unique career paths. Life in the City of Angels is one-of-a-kind but be prepared to pay the price, quite literally! A renter in L.A. ends up spending around $7,152 a month on basic household expenses, including an average rent of $2,186/month.

To be able to cover expenses and rent, a comfortable salary of $85,824 is needed. However, with a little planning and budgeting you can live frugally. For example, cut down on rent by finding an affordable neighborhood, like Westlake.

Los Angeles is a sprawling city that requires a car or public transportation to get around, which can get expensive. Residents spend an average of $537 on transportation a month.

New York, NY

• Income needed to live comfortably: $131,388
• Average monthly expenses: $10,949
• Cost of living in New York vs. national average: +131.5%
• Average rent in New York: $4,025/month
• Average rent compared to national average: +146%

New York is regarded as one of the priciest cities with high rent prices and monthly expenses. Even with these costs, people flock to the city because of its status as an economic powerhouse and a place where dreams come true.

A yearly salary of $131,388 is recommended with an average rent of $4,025/month, one of the highest average rents in the U.S. That doesn’t stop people from moving to the city, as there are many ways to find affordable housing. From finding a rent-stabilized apartment to finding an affordable neighborhood, there are many ways to live on a budget in the city that never sleeps.

Plan your expenses carefully by knowing the average cost for different expense categories. A single renter averages about $839 a month for groceries, but that can vary depending on how often you eat at a restaurant or get takeout. With the hustle culture of New York, cooking at home can seem like a waste of time and energy, but it can help save money.

The extensive public transportation network in New York allows residents to get around without cars, but it does cost money. The average renter spends $561 per month on transportation. However, biking and walking are free alternatives for getting around the city.

Chicago, IL

• Income needed to live comfortably: $85,380
• Average monthly expenses: $7,115
• Cost of living in Chicago vs. national average: +15.6%
• Average rent in Chicago: $1,961/month
• Average rent compared to national average: +20%

Chicago is one of the tightest apartment markets in the U.S., but that hasn’t stopped people from moving there. Because of the high demand and lack of availability, Chicago’s average rent of $1,961 is 20 percent higher than that national average. Like any big city, it is more expensive to live there, but you can have a fulfilling life even within the constraints of a budget.

Most Chicago residents spend about $7,115 a month on household expenses. While housing takes up the largest portion, other categories are above the U.S. average too. Groceries cost about $719 a month while transportation spending hovers around $415 a month. The only category that is lower than the U.S. average is utilities, which is 4 percent lower at $362 a month. To comfortably afford these expenses and housing, a yearly salary of $85,380 is advised.

Don’t let the costs or advised salary scare you away; you can live in Chicago on a budget. Living on the edge of the city in an affordable neighborhood can lower the rent to below the average U.S. rent. That doesn’t mean you have to give up on your dream of lakefront living as there are neighborhoods, like Edgewater, that are both on the shore and affordable.

Dallas, TX

• Income needed to live comfortably: $58,056
• Average monthly expenses: $4,838
• Cost of living in Dallas vs. national average: +1%
• Average rent in Dallas: $1,417
• Average rent compared to national average: -13%

Dallas is becoming popular with renters looking for an affordable place to live. With the lowest recommended yearly income on this list at $58,056 and an average rent lower than the national average at $1,417, it’s a standout place to live. It’s also the only city on this list to boast an average rent lower than the national average. Living in Dallas means you don’t have to sacrifice your ideal home to afford rent.

Most single-renter households spend an average of $4,838 a month to cover household expenses. Prices for groceries, housing, and transportation are all lower than the national average. A car is highly recommended in Dallas as the public transportation network is still developing. You don’t have to wince every time you fill your tank because gas is much cheaper in Dallas. The average cost for transportation is $355 a month, 8.7 percent lower than the U.S. average.

Whether you’re looking for a suburban area or lower rent, the most affordable neighborhoods in Dallas offer both. Or enjoy the energy of Downtown Dallas and live surrounded by cultural landmarks, art, and entertainment. Dallas has the best of both worlds so renters can find whatever lifestyle they want.

Boston, MA

• Income needed to live comfortably: $101,916
• Average monthly expenses: $8,493/month
• Cost of living in Boston vs. national average: +45.8%
• Average rent in Boston: $3,519/month
• Average rent compared to national average: +115%

With world-renowned institutions and businesses, people flock to Boston for professional opportunities, but also for its big-city offerings. With so many people and so little space, the cost of living in Boston is 45.8 percent higher than the national average. The average rent sits at a whopping 115 percent above the national average rent at $3,519 a month.

Boston is pricy, so be prepared to create a budget and find ways to save. A single renter pays an average of $8,493 for monthly expenses. Breaking it down, that’s an average of $719 on groceries, $559 on utilities, and $417 on transportation. To afford these expenses, a yearly income of $101,916 is recommended, but you can live in Boston on a lower salary with a bit of financial planning and flexibility.

Try to avoid driving as gas is expensive. Taking the T (the MBTA subways system) is often cheaper and easier. It’s also perfect for those living in an affordable neighborhood farther from Downtown Boston as the T connects all corners of the city so you can have a lower rent and still enjoy city life.

Take the Next Step by Figuring Out How Much You Should Spend on Rent

Now you know what the average renter’s expenses are, including the average they spend on rent in different cities. It is not a one-size-fits-all situation, so it’s time to figure out how much you should spend on rent. The general rule is that you should spend 30 percent of your monthly income on rent, but this can vary depending on your priorities and lifestyle.

Luckily, Apartments.com makes figuring out how much rent you can afford simple with the Rent Calculator. Enter your monthly income and select the percentage you want to spend on rent. The tool then calculates how much rent you should be paying and creates a budget plan that incorporates the rent payment while following the 50/30/20 guidelines. Plan your move with confidence on Apartments.com!

Methodology

All of the data in this article was gathered from the Rent Trends and Cost of Living Calculator on Apartments.com.