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Posted: Tuesday, August 15, 2017 11:50 AM

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PROPERTY NEWS: Here are the 5 most unaffordable cities in the world & Rental check tips site BELOW

High rents arent just a problem in the U.S. A new study from RentCafe showed the most unaffordable cities in the world to rent in, based on median income.
The study used PricewaterhouseCoopers ranking of the worlds Cities of Opportunity, an in depth analysis of the most prosperous global business, finance and culture capitals. The study looks at 10 different indicators including infrastructure, intellectual capital and innovation, sustainability and ease of doing business.

Of the 30 cities on the list, Manhattan is the priciest city in the world in which to rent, and its population pays an average of 59% of their income in rent.
In San Francisco, the median income sits at about $92,000, one of the highest income levels represented, but thats still not enough to keep with the rising rent prices. The rent to income ratio stands at about 41% in San Francisco.

Here are the top five least affordable cities in the world and their rent to income ratios:

5. Paris 46% Rent per month: $1,600 Household income per month: $3,442

4. Los Angeles 47% Rent per month: $2,055 Household income per month: $4,333

3. Lagos, Portugal 57% Rent per month: $355 Household income per month: $625

2. Manhattan 59% Rent per month: $3,725 Household income per month: $6,298

1. Mexico City 60% Rent per month: $720 Household income per month: $1,208

SOURCE: Kelsey Ramirez

FREE TIP, SERVICE OR PRODUCT: Rental check tips site at www.landlordtalking.com/tips/tenant-screening/what-every-landlord-should-know-about-rental-inspections

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Mark Bordcosh


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