Nested listed the average gross annual income needed for a single person and a family of four to afford to rent in cities across the world.
The start-up based their figures on the average rental cost per square foot in each city, based on a minimum of 420square feet. for a single person and 797square feet for four people.
The annual salary was then calculated on the basis that, according to a study from Loughborough University, no more than 29% of a person’s salary should be spent on rent per month.
Top five
Topping the list, a single person in San Francisco would need to earn nearly £70,000 ($88,557, €82,980) per annum to afford their rent. A family of four would need over £131,000.
Although slightly cheaper, residents of the Big Apple would need more then £66,000 and £125,000, respectively, for similar accommodation.
Notoriously expensive Hong Kong came third in the report, requiring an annual salary of just under £54,000 for a single person and more than £101,000 for a family.
Dubai and Singapore rounded out the top five.
London
London ranked at 11 in the list, requiring an annual salary of just under £40,000 for a single person and over £75,500 for a family.
The figures for London, however, are based on an average of the 33 boroughs included in Nested’s separate research into the UK capital.
The difference between the most and least expensive boroughs was substantial.
| Borough | Annual Single Person Salary | Annual Family of Four Salary |
| (1) Kensington & Chelsea | £116,839 | £221,694 |
| (33) Bexley | £21,463 | £40,725 |
