Phoenix More Affordable Than Many Cities

To afford the average two-bedroom rental in Phoenix, a person or couple would need to make $41,057, according to a new study. In San Francisco, you’d need to make $179,529. Likewise to afford payments on a median-priced home, a salary of $26,803 would do in Phoenix, but one would need to rake in an additional $100k in the City by the Bay.

That’s based on two recent studies by SmartAsset, a financial-advise website.

Phoenix is at the bottom of a list of 15 large cities in terms of income necessary to pay rent, and 10th on the list for affording the purchase of a home. The studies do not break out figures for suburbs or specific areas like the distinct communities in and around North Phoenix.

As in many cities across the county, Phoenix home prices are rising, as are rental rates.

The results (in two charts):

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See details on the studies and methodology: Rent / Buy