Ranked: Cities Where Incomes Meet Costs of Living
Americans are grappling with high costs of living and low incomes—in fact, only 11 of the country's 50 largest cities recently analyzed by GOBankingRates have conditions that make for a "comfortable" lifestyle.
The analysis, which considered a 50/30/20 budget that allows 50 percent for necessary expenses, 30 percent for discretionary expenses and 20 percent for savings, assessed each city's median income and costs of living, including for housing, utilities, groceries and transportation. The top five cities where a comfortable lifestyle is possible are: 1. Virginia Beach, Va. Median Income: $66,634 Income Needed: $52,650 Surplus: $13,984 2. Arlington, Texas Median Income: $53,326 Income Needed: $46,420 Surplus: $6,906 3. Colorado Springs, Colo. Median Income: $54,527 Income Needed: $49,415 Surplus: $5,112 4. Albuquerque, N.M. Median Income: $47,030 Income Needed: $42,445 Surplus: $4,585 5. Austin, Texas Median Income: $57,689 Income Needed: $54,631 Surplus: $3,058 View cost comparisons in your state here. Source: GOBankingRates |
Today's Top Stories |