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.
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As in many cities across the county, Phoenix home prices are rising, as are rental rates.
The results (in two charts):
Brand New Anthem Home for Sale
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