CHARLOTTE, N.C. (QUEEN CITY NEWS) – The city is expensive.
Not to mention, rising inflation and high-interest rates make it all the more difficult to afford basic necessities.
According to a new study by SmartAsset, calculated income needed to ‘comfortably’ afford rent in the 25 largest U.S. cities ranks Charlotte at 16.
The study broke down the average rent for one-bedroom and two-bedroom apartments; it provided the needed income to afford each one.
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The average rent for a one-bedroom came to approximately $1,435, with the income needed rounding out to about $61,479.
The average rent for a two-bedroom apartment is around $1,647, with the income needed at $70,582.
The top five cities in the report were:
- San Francisco, Calif.
- New York, N.Y.
- Los Angeles, Calif.
- Boston, Mass.
- Washington, D.C.