DENVER (KDVR) — A new Zillow report found that some residents across the United States need to make over six figures to be able to afford rent.
The report looked into how much residents need to earn to afford rent in several cities across the country, which is about 30% of a renter’s income. The report found renters need to make above six figures to comfortably afford rent in eight major markets, including areas in California, Boston, New York City and Miami.
Denver rent prices trending down compared to nearby cities, state overall: Report
Luckily, Denver’s not on that list, but it’s also not too far off.
Nationwide, Zillow said the salary to afford rent is up $20,000 since pre-pandemic. To afford typical rent five years ago, residents would need to make $60,000, and now, people need to earn more than $80,000.
Salary needed to afford rent in these US cities
Here’s how much renters need to make to afford rent in these major cities:
Denver residents need a little less than an $80,000 salary to afford rent, which is slightly lower than the national average…