Finance: Here's how much you need to earn to rent a 2-bedroom apartment in 15 of America's biggest cities

If you want to spend less than 30% of your income on rent, here's how much you need to earn.

One-third of Americans overpay for housing, and renters have it the worst.

In fact, almost half spend over 30% of their incomes on rent, exceeding the standard measure of affordability, according to the 2017 State of the Nation's Housing report, published by the Joint Center for Housing Studies of Harvard University.

In addition to transportation and food, housing is one of the biggest expenses Americans have. Cutting back on these things could mean more savings in the bank and even a ticket to early retirement.

In its latest report, SmartAsset calculated the income needed to afford rent in 15 major US cities. That is, the salary a household must earn to spend a comfortable 28% of its income on rent for a two-bedroom apartment. Rent prices were pulled from RENTCafé's January 2017 report.

Below, check out how much you need to earn to pay rent in San Francisco, New York, Boston, and 12 more of America's major metro areas.

15. Phoenix, Arizona

Average 2-bedroom rent: $958

Income needed: $41,057

14. Detroit, Michigan

Average 2-bedroom rent: $1,087

Income needed: $46,586

13. Houston, Texas

Average 2-bedroom rent: $1,088

Income needed: $46,629

12. Dallas, Texas

Average 2-bedroom rent: $1,204

Income needed: $51,600

11. Atlanta, Georgia

Average 2-bedroom rent: $1,258

Income needed: $53,914

10. Riverside, California

Average 2-bedroom rent: $1,431

Income needed: $61,329

9. Philadelphia, Pennsylvania

Average 2-bedroom rent: $1,572

Income needed: $67,371

8. Miami

Average 2-bedroom rent: $1,722

Income needed: $73,800

7. Seattle, Washington

Average 2-bedroom rent: $2,025

Income needed: $86,786

6. Chicago, Illinois

Average 2-bedroom rent: $2,254

Income needed: $96,600

5. Washington, DC

Average 2-bedroom rent: $2,416

Income needed: $103,543

4. Los Angeles, California

Average 2-bedroom rent: $2,556

Income needed: $109,543

3. Boston, Massachusetts

Average 2-bedroom rent: $3,166

Income needed: $135,686

2. New York, New York

Average 2-bedroom rent: $3,841

Income needed: $164,614

1. San Francisco, California

Average 2-bedroom rent: $4,189

Income needed: $179,529

If you want to spend less than 30% of your income on rent, here's how much you need to earn. Read Full Story