U.S. Cities Where You Can Live Large on Less Than $100,000

By July 27, 2018Lifestyle
Dallas, Texas (pictured) is just one of many places in the U.S. where you can live large on less.
Dallas, Texas (pictured) is just one of many places in the U.S. where you can live large on less.Getty Images

The economy’s growing, unemployment’s down and you’re earning a great salary. Yet you still feel cash strapped.

Join the crowd!

With living costs rising and wages not keeping pace, depending on where you live, even supposedly great salaries can leave you feeling less than flush. But guess what? There are places in the U.S. where you can live large on less.

No, these aren’t obscure towns where you’d struggle to find an interesting cafe or a speedy internet connection. The smallest city on this list had a population of more than 260,000 according to 2016 figures from the U.S. Census. The largest cities top out at more than 1 million.

And since you can’t choose where to live based on bread alone, you won’t have to sacrifice culture, connections or career opportunities in these cities. Between them, they’re home to major academic clusters, architectural landmarks, world-renowned music scenes and financial centers, to name a few life-enhancing amenities.

What to Know Before You Choose Where to Live

New York City (pictured) and other major metro areas draw a lot of people looking to get ahead in their careers. But big cities aren't the only places to get ahead.
New York City (pictured) and other major metro areas draw a lot of people looking to get ahead in their careers. But big cities aren’t the only places to get ahead.Getty Images

As this list makes clear, cities like New York, Washington D.C. and San Francisco that rank high in salary comparisons aren’t the only places – or even the best places – to get ahead.

Chris Martin, Lead Data Analyst at Seattle, Washington-based compensation data and analytics firm PayScale Inc., describes deciding where to live as a “multidimensional decision process” that takes into account much more than the size of your paycheck.

Forewarned Is Forearmed

Plenty of cities allow you to build your financial foundation and enjoy a high quality of life, while not being crushed by the cost of living. But before you light out for the territories know, too, that different industries pay differently.

“A location that is hot for tech jobs may not have higher pay for media jobs, for example,” Martin said. He says be sure to “get more information on the pay you should expect to earn based on your personal characteristics…Just because people tend to earn more or less in a specific city doesn’t mean you should expect to.”

Also, only you can weigh the precise combination of career opportunities, living costs and compensation factors that matter most to you. But where you choose to live has a huge impact on more than your financial bottom line. It influences the opportunities, financial and otherwise, you are able to take advantage of down the line.

Here are 10 places where you can find the best fit for you and live large on less than a six-figure salary, as culled from research done by GoBankingRates, Indeed and U.S. News & World Report.

Charlotte, North Carolina

No less than six Fortune 500 companies call Charlotte, North Carolina home.
No less than six Fortune 500 companies call Charlotte, North Carolina home.Getty Images

Population: 842,000

Average salary: $86,922

Bonus: Charlotte ranks No. 22 on U.S. News & World Report’s list of the “125 Best Places to Live in the USA.”

This burgh ranks as one of the nation’s top banking centers (Bank of America and Wells Fargo are headquartered here), ranking behind New York City and (just barely) San Francisco.

Charlotte is also home to other major industries, including motor sports and a growing energy hub. No less than six Fortune 500 companies call it home. For the sports inclined, the city has two major hometown franchises: the Carolina Panthers and the Charlotte Hornets.

Charlotte’s population and economic might are growing fast, which means opportunity. Not only is its overall cost of living below the U.S. average, real estate costs – both for purchase and to rent – are reasonable, and the tax burden is manageable.

Tampa, Florida

Tampa, Florida's cost of living ranks below the U.S. average, with housing costs the biggest driver of the difference.
Tampa, Florida’s cost of living ranks below the U.S. average, with housing costs the biggest driver of the difference.Getty Images

Population: 377,165

Average salary: $80,121

Bonus: While the beautiful beaches and sunshine are obvious selling points, Tampa also ranked No. 7 on security review and comparison site Safewise’s 2017 list of “The 50 Safest Metro Cities in America.”

And here’s a kicker: Florida has no state income tax.

Tampa is Florida’s third-largest city, with a greater metro area that includes the beach towns of Clearwater and St. Pete’s Beach.

The city’s cost of living ranks below the U.S. average (by 5 percent according to data from PayScale), with housing costs the biggest driver of the difference. Your best prospects for high-paying jobs are in health care, defense or financial services, the industries with the greatest employment.

Phoenix, Arizona

Phoenix, Arizona’s cost of living is 5 percent below the U.S. norm.
Phoenix, Arizona’s cost of living is 5 percent below the U.S. norm.Getty Images

Population: 1.6 million

Average salary: $73,135

Bonus: Phoenix makes two of U.S. News & World Report’s “best of” lists. It ranks No. 19 on “125 Best Places to Live in the USA” and No. 34 on “100 Best Places to Retire in the USA.”

Phoenix’s cost of living is 5 percent below the U.S. norm (according to data from PayScale), reflecting lower-than-average costs in just about every category: housing, utilities, transportation, groceries and health care.

It’s a dynamic jobs environment. Tourists are drawn to the landscape and more, and manufacturing, mining and financial services are all present. There are also growing tech and biotech industries.

Dallas, Texas

Dallas benefits from a low tax burden, thanks to Texas’s lack of state income tax.
Dallas benefits from a low tax burden, thanks to Texas’s lack of state income tax.Getty Images

Population: 1.3 million

Average salary: $76,726

Bonus: Texas contains anywhere from two to four (depending on who’s counting and what yardstick they’re using) of the fastest-growing U.S. cities, so the overall growth environment surrounding Dallas is strong.

Dallas does several things right.

It has a highly educated, diverse population. Its food costs are below the U.S. average. Its job market is strong. It also benefits from a low tax burden, thanks to Texas’s lack of state income tax.

NerdWallet pegs the local cost of living at right around the U.S. average. The major industries – tech, defense, financial services, and oil and gas (centered in Fort Worth) – offer healthy salaries.

Be prepared to live in your car, though. Dallas’ public transportation system isn’t great.

Bakersfield, California

In Bakersfield, California you’ll find high-paying jobs in aerospace and mining. Refining and manufacturing are also big contributors to its economy.
In Bakersfield, California you’ll find high-paying jobs in aerospace and mining. Refining and manufacturing are also big contributors to its economy.Getty Images

Population: 376,000

Average salary: $76,673

Bonus: You can drive to the Sierra Nevada mountains in only a few hours.

According to salary comparison website PayScale, Bakersfield’s cost of living is 5 percent higher than the national average. However, the average income is also higher, while census data show lower rent and transportation costs.

Similar to Fresno, this San Joaquin Valley city’s main industry is agriculture. But you’ll find high-paying jobs in aerospace and mining, too. Refining and manufacturing are also big contributors to its economy.

St. Louis, Missouri

St. Louis, Missouri combines good salaries with low housing costs and striking architecture.
St. Louis, Missouri combines good salaries with low housing costs and striking architecture.Getty Images

Population: 311,404

Average salary: $76,653

Bonus: St. Louis popped up on a Mercer Consulting ranking of the 100 global cities with the best quality of life.

St. Louis combines good salaries with low housing costs (about 1/3 of the national average) and striking architecture.

Health care, aerospace and biotech are the main job sectors, and the unemployment rate is under 4 percent, below the already low national average. Arts and ample green space — 1,300-acre Forest Park draws more than 1 million visitors a year — help foster livability.

 

Fresno, California

While it won’t rival Napa and Sonoma anytime soon, Fresno, California’s even got a local wine industry.
While it won’t rival Napa and Sonoma anytime soon, Fresno, California’s even got a local wine industry.Getty Images

Population: 522,053

Average salary (according to Indeed): $82,236

Bonus: The Fresno region’s ground zero for California’s ambitious high-speed rail project. If it gets built, it would link the northern and southern parts of the state.

Fresno’s central California location may not match the San Francisco Bay Area for natural beauty or tech jobs, but it’s home to two vital industries: health care and agriculture.

It’s also practically on Yosemite National Park’s doorstep.

The city’s affordable compared to the rest of California (one of the U.S.’s most expensive states to live in). It’s also cheap compared to other U.S. cities. While it won’t rival Napa and Sonoma anytime soon, Fresno’s even got a local wine industry, the Madera American Viticultural Area (AVA).

El Paso, Texas

El Paso, Texas experiences 300 days of sunshine a year.
El Paso, Texas experiences 300 days of sunshine a year.Getty Images

Population: 683,080

Average salary (according to Indeed): $75,457

Bonus: If you’re not already sold, know that El Paso experiences 300 days of sunshine a year.

El Paso gets more than its fair share of accolades.

The city’s cost of living ranks significantly below the U.S. average, according to Sperling’s Best Places. It also ranks high on U.S. News & World Report’s Quality of Life Index.

Housing is the major contributor to its greater affordability. But not surprisingly, utility costs are also below the national average. Add in jobs that pay well — energy, education and the military are the major industries — and a rich mix of cultures, and El Paso’s a winner.

Cincinnati, Ohio

Cincinnati, Ohio features ample Art Deco, Tudor and Victorian architecture, and an extensive park system.
Cincinnati, Ohio features ample Art Deco, Tudor and Victorian architecture, and an extensive park system.Getty Images

Population: 298,800

Average salary (according to Indeed): $75,201

Bonus: It’s not all business. Cincy ranks high on multiple “best” lists, including cities to raise a family (Forbes) and most affordable cities (Forbes), and it gets nods for its arts and culture in Travel & Leisure. It even made The New York Times “52 Places to Go in 2018” list.

Cincinnati is home to nine Fortune 500 company headquarters, including Procter & Gamble, Kroger and AK Steel.

While incomes are not especially high compared to the national average, your salary goes further here. Housing and, to a lesser extent, health care costs help keep the cost of living 10 percent below the national average. High-paying jobs abound in the energy, manufacturing and financial services industries, and corporate chiefs give the city high marks for ease of doing business.

Plus, you can enjoy the ample Art Deco, Tudor and Victorian architecture, and the extensive park system in your free time.

Durham, North Carolina

Durham, North Carolina's part of the vaunted Research Triangle Park, an academic, health care and tech cluster that powers the regional economy.
Durham, North Carolina’s part of the vaunted Research Triangle Park, an academic, health care and tech cluster that powers the regional economy.Getty Images

Population: 263,000

Average salary: $74,401

Bonus: Durham makes two “best of” lists. It ranks No. 13 on U.S. News & World Report’s “125 Best Places to Live in the USA” list and No. 16 on Forbes’ “Best Places For Business and Careers.”

Lower housing and utility costs contribute to Durham’s lower than average cost of living.

While this southern city, which is home to Duke University, has higher tax rates than the U.S. average, its salaries are also higher. And the Durham area, along with Raleigh and Chapel Hill, makes up the vaunted Research Triangle Park, an academic, health care and tech cluster that powers the regional economy.

Overall, there’s a high proportion of entrepreneurial talent, and arts and green spaces are plentiful.

* Except where noted otherwise, average salary data is from GoBankingRates.

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