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Here Are The World’s Most Expensive Cities For Renters 2017

We all know big-city living can be expensive, but the proof is definitely in the rent check. According to Nested’s newly released “2017 Rental Index,” three of the world’s most expensive cities to rent in are found right here in the U.S. San Francisco, New York and Boston renters pay more per square foot than their fellow renters around the globe, the London-based online realtor found. Washington, D.C., and Seattle also made the global Top 10.

Comparatively, Detroit is America’s most-affordable city, with renters paying $1.09 per square foot and $457.57 a month for one person and $868.22 per family. The Motor City is cheaper than Cape Town, South Africa, Bangkok, Thailand, and Jakarta, Indonesia.

Using current localized market listings and minimum space guidelines from the Greater London Authority, Nested based its findings on the price per square foot and the minimum gross salary needed for an individual and a family of four to rent in 124 cities across the world.

Here is the breakdown of Nested’s Top 5:

1. SAN FRANCISCO
Cost per square foot: $4.95
Monthly rent, single: $2,077.96
Annual income, single: $85,985.38
Monthly rent, family: $3,942.82
Annual income, family: $163,151.17

2. NEW YORK
Cost per square foot: $4.75
Monthly rent, single: $1,994.00
Annual income, single: $85,985.38
Monthly rent, family: $3,942.82
Annual income, family: $156,151.17

3. BOSTON
Cost per square foot: $4.10
Monthly rent, single: $1,721.14
Annual income, single: $71,220.00
Monthly rent, family: $3,265.77
Annual income, family: $135,135.31

4. HONG KONG
Cost per square foot: $3.83
Monthly rent, single: $1,607.81
Annual income, single: $66,530.07
Monthly rent, family: $3,050.71
Annual income, family: $126,236.28

5. DUBAI
Cost per square foot: $3.53
Monthly rent, single: $1,481.87
Annual income, single: $61,318.76
Monthly rent, family: $2,811.75
Annual income, family: $116,348.28

Though it’s not included in the report, the most inexpensive global city is Cairo, capital of Egypt, where the cost per square foot is $0.28 and one personal needs a yearly income of $6,130.89 to make the rent.

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