Sometimes it seems like the earnings system is rigged: if an area has high salaries, the cost of living is exorbitant. Low cost of living? No work. It mostly does all balance out, but career site Glassdoor recently crunched the data and published a list of the 25 American cities where your earnings will go the farthest. If you’re thinking of relocating, have a look.
It’s all about the cost-of-living ratio, which takes the average salary and divides it by the average home value. Detroit, for example, has a median home value of $123,100 and a median income of $61,500. So 61,500 divided by 123,100 equals 50%, the area’s cost of living ratio. Put another way, the cost of living ratio shows what percent of an average home’s value an average worker earns each year.
01. Detroit, MI
- Cost of Living Ratio: 50%
- Median Base Salary: $61,500
02. Memphis, TN
- Cost of Living Ratio: 46%
- Median Base Salary: $52,000
03. Pittsburgh, PA
.gif?width=400&name=giphy%20(9).gif "Pittsburgh")
SOURCE: giphy.com
- Cost of Living Ratio: 45%
- Median Base Salary: $56,896
04. Cleveland, OH
- Cost of Living Ratio: 44%
- Median Base Salary: $55,000
05. Indianapolis, IN
- Cost of Living Ratio: 43%
- Median Base Salary: $56,000
06. St. Louis, MO
.gif?width=400&name=giphy%20(10).gif "St. Louis")
SOURCE: giphy.com
- Cost of Living Ratio: 40%
- Median Base Salary: $56,896
07. Cincinnati, OH
- Cost of Living Ratio: 40%
- Median Base Salary: $57,179
08. Birmingham, AL
- Cost of Living Ratio: 40%
- Median Base Salary: $50,800
09. Kansas City, MO
- Cost of Living Ratio: 39%
- Median Base Salary: $58,000
10. Louisville, KY
- Cost of Living Ratio: 39%
- Median Base Salary: $54,000
11. Buffalo, NY
- Cost of Living Ratio: 39%
- Median Base Salary: $50,000
12. Houston, TX
.gif?width=400&name=giphy%20(11).gif "Houston")
SOURCE: giphy.com
- Cost of Living Ratio: 38%
- Median Base Salary: $65,000
13. Oklahoma City, OK
- Cost of Living Ratio: 38%
- Median Base Salary: $50,000
14. Columbus, OH
- Cost of Living Ratio: 37%
- Median Base Salary: $57,000
15. Atlanta, GA
- Cost of Living Ratio: 37%
- Median Base Salary: $60,000
16. San Antonio, TX
- Cost of Living Ratio: 37%
- Median Base Salary: $55,000
17. Charlotte, NC
- Cost of Living Ratio: 36%
- Median Base Salary: $58,000
18. Dallas-Fort Worth, TX
- Cost of Living Ratio: 33%
- Median Base Salary: $61,000
19. Chicago, IL
- Cost of Living Ratio: 33%
- Median Base Salary: $63,000
20. Tampa, FL
.gif?width=400&name=giphy%20(12).gif "Tampa")
SOURCE: giphy.com
- Cost of Living Ratio: 32%
- Median Base Salary: $52,000
21. Hartford, CT
- Cost of Living Ratio: 32%
- Median Base Salary: $68,000
22. Richmond, VA
- Cost of Living Ratio: 31%
- Median Base Salary: $59,800
23. Jacksonville, FL
- Cost of Living Ratio: 30%
- Median Base Salary: $50,000
24. Minneapolis-St. Paul, MN
- Cost of Living Ratio: 30%
- Median Base Salary: $65,000
25. Raleigh, NC
- Cost of Living Ratio: 30%
- Median Base Salary: $62,000
Of course, there are plenty of other reasons to live somewhere other than its cost of living ratio. A location’s climate, its proximity to your family, the local lifestyle, and the area’s culture are all common reasons to prefer one place over another.
This list tells you the dollars-and-cents story, though. For more details, check out Glassdoor’s list, which also includes job listings in each city.
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