MIAMI, Fla. >> Nested, the London based online realtor, produced the 2017 Rental Index in conjunction with their recent Real Estate Index. The study illustrates the price of renting per square foot in 10 major US cities and a number of metropolises worldwide. The research further conveys the minimum gross salary required to support an individual and a family of four in rented property, based on the minimum space recommended for one person, and for four people respectively.
The comprehensive study was undertaken in order to understand the costs associated with renting as an individual and as a family, and to determine whether cities are becoming increasingly unaffordable. The inclusion of the global ranking alongside the US ranking allows easy comparison between the two, and illustrates the relative unaffordability of major US cities compared to other global settlements.
The price per square foot of property was calculated based upon current market listings for all locations researched, whilst the minimum space recommended for one person and four people is laid out in guidelines from an urban planning authority.
The gross salary guideline was included to help illustrate relative affordability.
