Here's how far a $100K salary goes in the most — and least — affordable U.S. cities

A six-determine income has lengthy been visible as a marker of economic success. But with the ever-growing value of residing, $100,000 doesn`t provide a whole lot via way of means of manner of economic protection in some of massive U.S. towns. 

In fact, withinside the priciest locales — New York, San Francisco and Honolulu — $100,000 buys you the identical first-rate of lifestyles as a person making $36,000 according to yr nearly everywhere else withinside the nation, in line with a brand new evaluation from non-public finance internet site SmartAsset. 

For the report, SmartAsset used its paycheck calculator to get rid of nation, federal and nearby taxes from a $100,000 income, then adjusted the the rest primarily based totally on every city's relative value of residing.

The region that gives the most important bang on your buck? Memphis, Tennessee, wherein a six-determine earner could have the equal of $86,000 left after taxes. Tennessee has no non-public profits taxes, leaving the hypothetical employee with $74,500 after federal taxes. But Memphis' low value of residing makes that equal to take-domestic pay of $86,four hundred somewhere else across the U.S.

Most locals make a long way much less than that amount, it is really well worth noting. The median family withinside the Memphis metro region earns $55,000 according to yr, decrease than the country wide median of nearly $70,000.

How a long way $100K is going withinside the most- and least-less costly towns

Texas changed into some other principal winner in SmartAsset's rankings, with seven of the pinnacle 10 most inexpensive towns withinside the calculation: El Paso, Corpus Christi, Lubbock, Houston, San Antonio, Fort Worth and Arlington. 

On the opposite cease of the spectrum, New York ranked useless closing in affordability, with a $100,000 income withinside the Big Apple equal to just $36,000 in take-domestic pay somewhere else withinside the nation. 

California functions closely at the least-less costly list, with the ten priciest towns which includes San Francisco, Los Angeles, Long Beach, San Diego and Oakland. About four in 10 families withinside the nation make over $100,000, census information show, however the rate of housing withinside the nation has skyrocketed to the factor wherein a four-individual own circle of relatives making six figures qualifies for federal help in San Francisco and different components of the Bay Area.

Post a Comment