Markets & EconomyRentals

Income-to-rent proportions exceed 40 percent in metro markets

San Francisco, at $3,715, has highest median rent cost

Some of the most rapidly growing job markets are in cities with a very high cost of rental living. The proportion of income to rent in 11 of the top 17 metros for job growth exceeds 33 percent, according to recent info from real estate database Mad Valorem. In six markets, the proportion of rent to annual income exceeds 40 percent: Boston, 65 percent San Francisco, 59 percent Hanford, Connecticut, 56 percent Chicago, nearly 47 percent Baltimore, 46.4 percent Washington, D.C., 41 percent The highest median rents are found in San Francisco, at $3,715. Three other metros feature rents that exceed $2,000 -- Boston ($2,900), San Jose, California ($2,570), and Washington, D.C. ($2,250). Chicago is the next highest at $1,850. The proportion of rent to income is close to hitting 40 percent in three additional markets -- San Jose (38 percent), Denver (38 percent) and Dallas-Fort Worth (39 percent). On the flip side, seven of the top 17 markets for job growth ...