Art Wager / iStock.com Pondering a move to one of America’s fastest-growing big cities? You should probably make sure your salary is growing fast enough, too.
GOBankingRates has done some of the research for you — analyzing data from the U.S. Census, Zillow, BestPlaces and the Bureau of Labor Statistics — to determine the salary you’ll need to live comfortably. To define “living comfortably,” we’ve applied the 50/30/20 rule (which states that needs should not exceed 50% of a person’s income).
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We’ve also ranked the cities in our list by population growth between 2021 and 2022, which has the most recent figures available. You can find our full methodology at the end of this story.
Of the eight cities where you would need the highest salaries, six are located in California. In the most expensive city on our list, you’ll need to pull in an annual salary of $266,000 to live comfortably.
On the other hand, you can live comfortably in the least expensive city on our list for less than $65,000 a year.
In addition to the salary you’ll need, we’ve included 2021 and 2022 populations and the increase/decrease, household median income, the average value for a single-family home, a livability score from AreaVibes, and the total annual cost of living . Here they are in descending order of rate of growth.
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1. Phoenix 2022 population: 1,609,456 2021 population: 1,591,119 Year-over-year increase: 18,337 Household median income: $72,092 Single-family home average value: $440,515 Livability: 76 Total cost of living (annual): $54,460 Salary needed to live comfortably: $108,919 2. Fort Worth, Texas 2022 population: 924,663 2021 population: 908,469 Year-over-year increase: 16,194 Household median income: $72,726 Single-family home average value: $307,958 Livability: 80 Total cost of living (annual): $45,670 Salary needed to live comfortably: $91,341 Explore More: What the Upper Middle Class Make in Different US Cities
3. Austin, Texas
2022 population: 958,202 2021 population: 944,658 Year-over-year increase: 13,544 Household median income: $86,556 Single-family home average value: $565,592 Livability: 83 Total cost of living (annual): $62,686 Salary needed to live comfortably: $125,372 4. Jacksonville, Florida 2022 population: 950,203 2021 population: 937,690 Year-over-year increase: 12,513 Household median income: $64,138 Single-family home average value: $311,030 Livability: 84 Total cost of living (annual): $45,194 Salary needed to live comfortably: $90,388 5. San Antonio 2022 population: 1,445,662 2021 population: 1,434,540 Year-over-year increase: 11,122 Household median income: $59,593 Single-family home average value: $261,446 Livability: 80 Total cost of living (annual): $40,654 Salary needed to live comfortably: $81,308
6. Charlotte 2022 population: 875,045 2021 population: 864,871 Year-over-year increase: 10,174 Household median income: $74,070 Single-family home average value: $409,863 Livability: 80 Total cost of living (annual): $51,137 Salary needed to live comfortably: $102,274 7. Las Vegas 2022 population: 644,835 2021 population: 634,786 Year-over-year increase: 10,049 Household median income: $66,356 Single-family home average value: $452,326 Livability: 82 Total cost of living (annual): $56,382 Salary needed to live comfortably: $112,763 8. Seattle 2022 population: 734,603 2021 population: 726,054 Year-over-year increase: 8,549 Household median income: $116,068 Single-family home average value: $955,374 Livability: 75 Total cost of living (annual): $89,773 Salary needed to live comfortably: $179,547
9. Oklahoma City 2022 population: 681,088 2021 population: 673,183 Year-over-year increase: 7,905 Household median income: $64,251 Single-family home average value: $207,451 Livability: 81 Total cost of living (annual): $37,605 Salary needed to live comfortably: $75,211 10. Mesa, Arizona 2022 population: 503,390 2021 population: 497,752 Year-over-year increase: 5,638 Household median income: $73,766 Single-family home average value: $453,125 Livability: 81 Total cost of living (annual): $54,950 Salary needed to live comfortably: $109,900 11. Bakersfield, California 2022 population: 404,321 2021 population: 398,756 Year-over-year increase: 5,565 Household median income: $73,827 Single-family home average value: $392,067 Livability: 57 Total cost of living (annual): $50,760 Salary needed to live comfortably: $101,519
12. Sacramento, California 2022 population: 523,600 2021 population: 518,605 Year-over-year increase: 4,995 Household median income: $78,954 Single-family home average value: $495,207 Livability: 73 Total cost of living (annual): $59,529 Salary needed to live comfortably: $119,057 13. Colorado Springs, Colorado 2022 population: 479,612 2021 population: 475,282 Year-over-year increase: 4,330 Household median income: $79,026 Single-family home average value: $466,510 Livability: 79 Total cost of living (annual): $53,948 Salary needed to live comfortably: $107,897 14. Columbus, Ohio 2022 population: 902,449 2021 population: 898,143 Year-over-year increase: 4,306 Household median income: $62,994 Single-family home average value: $265,281 Livability: 81 Total cost of living (annual): $40,692 Salary needed to live comfortably: $81,385 15. Denver 2022 population: 710,800 2021 population: 706,799 Year-over-year increase: 4,001 Household median income: $85,853 Single-family home average value: $615,213 Livability: 72 Total cost of living (annual): $66,048 Salary needed to live comfortably: $132,096 16. Kansas City, Missouri 2022 population: 505,958 2021 population: 502,597 Year-over-year increase: 3,361 Household median income: $65,256 Single-family home average value: $244,129 Livability: 78 Total cost of living (annual): $39,622 Salary needed to live comfortably: $79,244 17. Raleigh, North Carolina 2022 population: 465,517 2021 population: 462,219 Year-over-year increase: 3,298 Household median income: $78,631 Single-family home average value: $454,961 Livability: 84 Total cost of living (annual): $53,633 Salary needed to live comfortably: $107,266 18. Houston 2022 population: 2,296,253 2021 population: 2,293,288 Year-over-year increase: 2,965 Household median income: $60,440 Single-family home average value: $277,464 Livability: 74 Total cost of living (annual): $43,538 Salary needed to live comfortably: $87,075 19. Tucson, Arizona 2022 population: 541,033 2021 population: 538,167 Year-over-year increase: 2,866 Household median income: $52,049 Single-family home average value: $343,909 Livability: 73 Total cost of living (annual): $45,788 Salary needed to live comfortably: $91,575 20. Miami 2022 population: 443,665 2021 population: 440,807 Year-over-year increase: 2,858 Household median income: $54,858 Single-family home average value: $659,560 Livability: 81 Total cost of living (annual): $71,931 Salary needed to live comfortably: $143,861 21. Fresno, California 2022 population: 541,528 2021 population: 538,678 Year-over-year increase: 2,850 Household median income: $63,001 Single-family home average value: $393,607 Livability: 63 Total cost of living (annual): $50,852 Salary needed to live comfortably: $101,704 22. Atlanta 2022 population: 494,838 2021 population: 492,204 Year-over-year increase: 2,634 Household median income: $77,655 Single-family home average value: $449,613 Livability: 78 Total cost of living (annual): $55,918 Salary needed to live comfortably: $111,835 23. Indianapolis 2022 population: 882,006 2021 population: 880,104 Year-over-year increase: 1,902 Household median income: $59,110 Single-family home average value: $235,505 Livability: 76 Total cost of living (annual): $38,490 Salary needed to live comfortably: $76,979 24. Minneapolis 2022 population: 426,877 2021 population: 425,091 Year-over-year increase: 1,786 Household median income: $76,332 Single-family home average value: $342,194 Livability: 78 Total cost of living (annual): $46,741 Salary needed to live comfortably: $93,482 25. Nashville, Tennessee 2022 population: 684,103 2021 population: 682,646 Year-over-year increase: 1,457 Household median income: $71,328 Single-family home average value: $453,347 Livability: 78 Total cost of living (annual): $54,625 Salary needed to live comfortably: $109,251 26. Wichita, Kansas 2022 population: 395,951 2021 population: 394,574 Year-over-year increase: 1,377 Household median income: $60,712 Single-family home average value: $203,422 Livability: 68 Total cost of living (annual): $36,604 Salary needed to live comfortably: $73,207 27. Tulsa, Oklahoma 2022 population: 411,938 2021 population: 410,652 Year-over-year increase: 1,286 Household median income: $56,648 Single-family home average value: $211,153 Livability: 75 Total cost of living (annual): $37,257 Salary needed to live comfortably: $74,513 28. Arlington, Texas 2022 population: 393,469 2021 population: 392,304 Year-over-year increase: 1,165 Household median income: $71,736 Single-family home average value: $322,797 Livability: 78 Total cost of living (annual): $46,709 Salary needed to live comfortably: $93,418 29. Omaha, Nebraska 2022 population: 489,201 2021 population: 488,059 Year-over-year increase: 1,142 Household median income: $70,202 Single-family home average value: $286,215 Livability: 83 Total cost of living (annual): $42,936 Salary needed to live comfortably: $85,872 30. El Paso, Texas 2022 population: 677,181 2021 population: 676,395 Year-over-year increase: 786 Household median income: $55,710 Single-family home average value: $225,008 Livability: 81 Total cost of living (annual): $37,653 Salary needed to live comfortably: $75,307 31. Dallas 2022 population: 1,300,642 2021 population: 1,300,239 Year-over-year increase: 403 Household median income: $63,985 Single-family home average value: $330,918 Livability: 81 Total cost of living (annual): $47,409 Salary needed to live comfortably: $94,817 32. Oakland, California 2022 population: 437,825 2021 population: 437,548 Year-over-year increase: 277 Household median income: $94,389 Single-family home average value: $867,741 Livability: 71 Total cost of living (annual): $85,949 Salary needed to live comfortably: $171,898 33. Virginia Beach, Virginia 2022 population: 457,900 2021 population: 457,658 Year-over-year increase: 242 Household median income: $87,544 Single-family home average value: $417,380 Livability: 83 Total cost of living (annual): $52,576 Salary needed to live comfortably: $105,151 34. Albuquerque, New Mexico 2022 population: 562,551 2021 population: 562,336 Year-over-year increase: 215 Household median income: $61,503 Single-family home average value: $337,910 Livability: 72 Total cost of living (annual): $44,538 Salary needed to live comfortably: $89,076 35. Portland, Oregon 2022 population: 646,101 2021 population: 647,176 Year-over-year increase: -1,075 Household median income: $85,876 Single-family home average value: $561,682 Livability: 78 Total cost of living (annual): $63,041 Salary needed to live comfortably: $126,083 36. Louisville, Kentucky 2022 population: 629,176 2021 population: 630,260 Year-over-year increase: -1,084 Household median income: $63,114 Single-family home average value: $250,672 Livability: 66 Total cost of living (annual): $40,232 Salary needed to live comfortably: $80,465 37. San Diego 2022 population: 1,383,987 2021 population: 1,385,398 Year-over-year increase: -1,411 Household median income: $98,657 Single-family home average value: $1,154,962 Livability: 75 Total cost of living (annual): $103,666 Salary needed to live comfortably: $207,332 38. Philadelphia 2022 population: 1,593,208 2021 population: 1,596,865 Year-over-year increase: -3,657 Household median income: $57,537 Single-family home average value: $220,413 Livability: 76 Total cost of living (annual): $42,502 Salary needed to live comfortably: $85,005 39. Memphis, Tennessee 2022 population: 630,027 2021 population: 634,139 Year-over-year increase: -4,112 Household median income: $48,090 Single-family home average value: $149,597 Livability: 70 Total cost of living (annual): $33,000 Salary needed to live comfortably: $66,000 40. Long Beach, California 2022 population: 462,293 2021 population: 466,565 Year-over-year increase: -4,272 Household median income: $78,995 Single-family home average value: $909,950 Livability: 69 Total cost of living (annual): $88,777 Salary needed to live comfortably: $177,553 41. Milwaukee 2022 population: 573,299 2021 population: 578,198 Year-over-year increase: -4,899 Household median income: $49,733 Single-family home average value: $209,803 Livability: 79 Total cost of living (annual): $37,763 Salary needed to live comfortably: $75,526 42. Boston 2022 population: 665,945 2021 population: 672,814 Year-over-year increase: -6,869 Household median income: $89,212 Single-family home average value: $815,819 Livability: 77 Total cost of living (annual): $82,497 Salary needed to live comfortably: $164,993 43. Baltimore 2022 population: 584,548 2021 population: 592,211 Year-over-year increase: -7,663 Household median income: $58,349 Single-family home average value: $187,577 Livability: 77 Total cost of living (annual): $37,762 Salary needed to live comfortably: $75,524 44. Detroit 2022 population: 636,787 2021 population: 645,658 Year-over-year increase: -8,871 Household median income: $37,761 Single-family home average value: $73,418 Livability: 73 Total cost of living (annual): $32,424 Salary needed to live comfortably: $64,849 45. San Jose, California 2022 population: 1,001,176 2021 population: 1,013,337 Year-over-year increase: -12,161 Household median income: $136,010 Single-family home average value: $1,543,154 Livability: 79 Total cost of living (annual): $132,963 Salary needed to live comfortably: $265,926 46. Washington, D.C. 2022 population: 670,587 2021 population: 683,154 Year-over-year increase: -12,567 Household median income: $101,722 Single-family home average value: $720,689 Livability: 75 Total cost of living (annual): $76,531 Salary needed to live comfortably: $153,061 47. San Francisco 2022 population: 851,036 2021 population: 865,933 Year-over-year increase: -14,897 Household median income: $136,689 Single-family home average value: $1,428,477 Livability: 75 Total cost of living (annual): $126,439 Salary needed to live comfortably: $252,878 48. Chicago 2022 population: 2,721,914 2021 population: 2,742,119 Year-over-year increase: -20,205 Household median income: $71,673 Single-family home average value: $313,159 Livability: 78 Total cost of living (annual): $46,999 Salary needed to live comfortably: $93,999 49. Los Angeles 2022 population: 3,881,041 2021 population: 3,902,440 Year-over-year increase: -21,399 Household median income: $76,244 Single-family home average value: $1,025,895 Livability: 67 Total cost of living (annual): $97,250 Salary needed to live comfortably: $194,500 50. New York City 2022 population: 8,622,467 2021 population: 8,736,047 Year-over-year increase: -113,580 Household median income: $76,607 Single-family home average value: $789,032 Livability: 75 Total cost of living (annual): $87,955 Salary needed to live comfortably: $175,909 Methodology : For this study, GOBankingRates analyzed the 50 largest U.S. cities by population and determined the salary needed to live comfortably in each one. GBR determined the top 50 cities by population using the 2022 U.S. Census American Community Survey, the most recent available. Using the same survey, GBR sourced 2022 total population, 2022 household median income, 2021 total population and 2021 household median income. Average single-family home values from July 2024 and July 2023 were sourced from the Zillow Home Value Index. By assuming a 10% down payment and using the national average 30-year fixed mortgage rate (as sourced from Federal Reserve Economic Data), the average mortgage costs were calculated. Cost-of-living indexes were sourced from BestPlaces. The national average expenditure costs for all residents were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. Mortgage and expenditure costs were used to calculate the cost of living for each city. One-year changes for population, households, and income were calculated for each city. Using the 50/30/20 rule (which states that needs should not exceed 50% of income), the household income to live comfortably was calculated for each city. The cities were sorted by year-over-year population growth. All data was collected on and is up to date as of September 10, 2024.
This article originally appeared on GOBankingRates.com : The Salary Needed To Afford America’s 50 Biggest Cities
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