Here's How Much Money You Need to Rent in Philly

Report breaks it down by apartment class

We recently shared how much money you need to earn per year in order to live comfortably in Philly. Now, another report released yesterday reveals what salary you need to earn to be able to rent certain types of apartments in the city.

The report, compiled by the real estate data company Axiometrics, looked at the basic ABC's of the apartment industry: The top 20 percent of apartment properties based on their effective rent level are Class A apartments, the middle 60 percent are Class B, and the bottom 20 percent are Class C.

Here's how the numbers panned out for Philadelphia.

So, if you were renting a class A apartment in 2014, you'd need pay raises totaling 6.8 percent over two years in order to maintain the same rent-to-income ratio in 2016. That's not too shabby compared to say, Atlanta, where Class B apartment rents grew 16 percent, the researchers write.

Still, Philly's affordability isn't all good news for the city. As we reported yesterday, a number of factors are at play that may spell bad news for the city if not addressed, including sluggish job growth, high poverty rates, and education policies.

• Income to Rent: What You Must Earn to Get an Apartment [Axiometrics]
• Philly named 4th most walkable city in America [Curbed Philly]
• Market East leads in rental rate growth [Curbed Philly]
• Here's how much money you need to live comfortably in Philly [Curbed Philly]
• Philly's poverty problem isn't going away [Curbed Philly]