On the Grind: How Long it Takes to Cover Rent in Metropolitan Cities

Ever feel like you work and work just to pay the rent and have a roof over your head? According to estimates by CareerBuilder, that’s the reality for many people in certain US cities.

The website used data from Economic Modeling Specialists International and rental costs from numbeo.com, to figure out how many hours it takes for the average worker to cover the rent in 10 major US cities. They based their estimates on a 50-week work year, with 40 hours of work per week.

The list showed the big coastal cities, New York and Los Angeles, require residents to put in the most time at the office to cover their rental costs.

See the top five cities on the list.

1. New York
Average earnings: $69,400
Average hourly salary: $34.70
Average apartment rent (1 bedroom, in city center): $2,675
Hours to cover rent: 77.1

2. Los Angeles
Average earnings: $56,400
Average hourly salary: $28.20
Average apartment rent (1 bedroom, in city center): $1,425
Hours to cover rent: 50.5

3. Chicago
Average earnings: $57,800
Average hourly salary: $28.90
Average apartment rent (1 bedroom, in city center): $1,500
Hours to cover rent: 51.9

4. Houston
Average earnings: $61,200
Average hourly salary: $30.60
Average apartment rent (1 bedroom, in city center): $1,200
Hours to cover rent: 39.2

5. Philadelphia
Average earnings: $69,400
Average hourly salary: $34.70
Average apartment rent (1 bedroom, in city center): $2,675
Hours to cover rent: 77.1

So what’s a reasonable amount to pay for rent? According to AOL, the industry wide standard is to spend around 30 percent of your earnings on rent. More recently, experts and companies like The  Metropolitan Life Insurance Company have started to suggest you spend no more than 25 percent of your monthly gross income on your rent. Whatever the case, the best idea is to look at your needs and your income and set a number that works for you.

To see the complete list from CareerBuilder, click here.

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