There are many reasons why people like living in cities across the country, from the way of life to the low cost of living.
For those who are thinking about moving to a new area, it is best to make sure they have enough money to meet the costs of living there.
GOBankingRates looked at the 50 biggest U.S. cities by population and calculated the salary needed to live comfortably in each one.
This was followed by a report that listed the salaries needed to live comfortably in each city. Other sources that the team used were the U.S. Census, Zillow, BestPlaces, and the Bureau of Labour Statistics.
The online personal finance company used the “50/30/20” rule to explain what “living comfortably” meant in their study. This rule says that a person’s needs should not take up more than 50% of their income.
The places on the list were also ranked by how much their populations grew or decreased between 2021 and 2022, as well as by their liveability score, household median income, average home value, and national cost of living.
The study says that six of the eight cities where you need a high salary to live comfortably are in California.
To live well in the most expensive place on the list, you need to make $266,000 a year. It is also possible to live well in the cheapest place on the list for less than $65,000 a year.
