We’re always blabbering on about how expensive London is, but the guys at RENTCafé wanted to put it to the test.
They took the world’s 30 best cities to live in and compared rental costs with the average income of those who live there. So, for example, although Manhattan is the most expensive place to rent in the world, it’s the 2nd least affordable. A massive 59% of a Manhattanite’s income goes on rent. But taking the number one spot, and crowned the Least Affordable City in the World is Mexico City, where renters spend over 60% of their salary on rent.
London on the other hand, declared the best city of opportunity by PwC (big up), has a 40% rent-to-income ratio, meaning it’s only classed as ‘moderately’ unaffordable. Frankly, we beg to differ…
So where should we pack up and move to?
It turns out that Berlin is the best choice for renters, where the average person only spends around 30% of their yearly income on rent. Or, if you fancy heading further afar, Kuala Lumpur is even more affordable, with rent only taking 20% of your salary. Bargain.
Read the rest of the story over at rentcafe.com.
Feature Image: Kyle Myburgh