Depending on the country and city where you live, rent can account for a significant portion of your paycheck. The Global Cities Business Alliance examined rental costs in 15 major cities around the globe, finding rents are barely affordable in several of them.
San Francisco had the highest average monthly rents out of all cities in the study at $2,824, and that accounted for 50.5 percent of an average worker's pay check. Even though the average amount spent on accommodation in Mexico City is lower than in many of the other locations listed, the average wage is also far lower, creating affordability problems for its residents. A worker on a typical wage in the Mexican capital would pay up to 58 percent of his or her salary on rental costs.
Beijing was named the most expensive city in the world to rent by the study with rental costs 1.2 times higher than monthly wages. In China's capital, somebody employed on an average salary cannot live alone in typical city accommodation, though employer-secured housing does alleviate this problem in some cases.
*Click below to enlarge (charted by Statista)
