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“Rent Café” recently did a survey to find out the maximum square footage that can be afforded in various cities, if no more than 30% of the median monthly income was spent on rent.
In Manhattan, Brooklyn, and Boston, this would result in less than 300 square feet of space. In San Francisco, 407 square feet could be afforded and in Seattle, 479 square feet.
Cities where about 1,000 square feet could be afforded are Gilbert, AZ, Chandler, AZ, Plano, TX, and Henderson, NV, all offering about 1,000 or more square-feet worth of space.
The full article is here: https://www.rentcafe.com/blog/apartmentliving/how-much-space-can-you-rent-on-median-income-in-the-100-largest-u-s-cities/
We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!
Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.
