While a six-figure salary used to be a fortune in the past, that’s not so much the case anymore. Of the 10 cities where $100,000 is worth less, five are in California.
If it seems like your dollar stretches beyond belief in Southern California, or many other major metropolitan areas across the country, it’s true, and earning a six-figure salary isn’t everything. just not what it used to be.
Six figures was a great benchmark, but with inflation forcing people to tighten their belts and rising house prices, you just don’t get as much bang for your buck.
Smart Asset, a fintech company, cited a survey that found “51% of people earning over $100,000 said they were living paycheck to paycheck in December 2022.”
In a recent study by Smart Asset, the company looked at 76 of the largest US cities and compared what you get for a salary of $100,000 after taxes.
Smart Asset also adjusted the cost of living in each city to reveal how much is left of that $100,000.
This is where $100,000 gets you less
Of the 10 cities where $100,000 gets you less after taxes and after adjusting for the cost of living, you’ll find five California cities, and several of them are in Southern California.
Los Angeles and Long Beach are tied for number 5.
After adjusting for cost of living and taxes, the average Long Beach Los Angeles resident ends up with $44,623. That’s not even enough for a semester at USC.
Not far behind is San Diego with $46,167 remaining and Oakland with $46,198. Only San Francisco beat Los Angeles for the least money remaining for California cities.
And even with those numbers, New York was still rock bottom. A New Yorker ends up with just $35,791.
The 10 cities with less than $100,000 left
- Arlington, Virginia $49,989
- Seattle, Washington $48,959
- Boston, MA $46,588
- Oakland, CA $46,198
- San Diego, CA $46,167
- Los Angeles, CA (tied) $44,623
- Long Beach, CA (impase) $44,623
- Washington, D.C. $44,307
- San Francisco, CA $36,445
- Honolulu, Hawaii $36,026
- New York, NY $35,791
The 10 cities where you can go for more with $100,000
The top 10 places where you still have real money left over after adjusting for taxes and the cost of living include much of Texas.
While a six-figure salary used to be a fortune in the past, that’s not so much the case anymore. Of the 10 cities where $100,000 is worth less, five are in California.
If it seems like your dollar stretches beyond belief in Southern California, or many other major metropolitan areas across the country, it’s true, and earning a six-figure salary isn’t everything. just not what it used to be.
Six figures was a great benchmark, but with inflation forcing people to tighten their belts and rising house prices, you just don’t get as much bang for your buck.
Smart Asset, a fintech company, cited a survey that found “51% of people earning over $100,000 said they were living paycheck to paycheck in December 2022.”
In a recent study by Smart Asset, the company looked at 76 of the largest US cities and compared what you get for a salary of $100,000 after taxes.
Smart Asset also adjusted the cost of living in each city to reveal how much is left of that $100,000.
This is where $100,000 gets you less
Of the 10 cities where $100,000 gets you less after taxes and after adjusting for the cost of living, you’ll find five California cities, and several of them are in Southern California.
Los Angeles and Long Beach are tied for number 5.
After adjusting for cost of living and taxes, the average Long Beach Los Angeles resident ends up with $44,623. That’s not even enough for a semester at USC.
Not far behind is San Diego with $46,167 remaining and Oakland with $46,198. Only San Francisco beat Los Angeles for the least money remaining for California cities.
And even with those numbers, New York was still rock bottom. A New Yorker ends up with just $35,791.
The 10 cities with less than $100,000 left
- Arlington, Virginia $49,989
- Seattle, Washington $48,959
- Boston, MA $46,588
- Oakland, CA $46,198
- San Diego, CA $46,167
- Los Angeles, CA (tied) $44,623
- Long Beach, CA (impase) $44,623
- Washington, D.C. $44,307
- San Francisco, California $36,445
- Honolulu, Hawaii $36,026
- New York, NY $35,791
The 10 cities where you can go for more with $100,000
The top 10 places where you still have real money left over after adjusting for taxes and the cost of living include much of Texas.
- Menfis, TN $86,444
- El Paso, TX $84,966
- Oklahoma City, Oklahoma $84,498
- Corpus Christi, Texas $83,443
- Lubbock, TX $83,350
- Houston, TX $81,171
- San Antonio, Texas (tie) $80,124
- Fort Worth, TX (imbate) $80,124
- Arlington, TX (impase) $80,124
- St. Louis, Missouri $79,921
This story first appeared on Telemundo 52’s sister station NBCLA. Click here to read this story in Spanish
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