All 31 Cities on This List Cost Less Than $50,000 to Live

LOS ANGELES, September 7, 2017 — Four different Texas cities are affordable to people making less than $50,000 a year, and a city in California even made the list, according to a new living expenses study.

Personal finance website GOBankingRates looked at living expenses in 270 of the largest U.S. cities to see where you could get by on the average annual salary of $49,630 — or less. To calculate the income needed to live comfortably in each city, GOBankingRates used the 50-30-20 budgeting rule, in which 50 percent of income covers necessities, 30 percent covers discretionary items and 20 percent is for savings.

For full study results and more details on methodology, visit: 31 Cities Where You Can Afford to Live Off Less Than $50,000.

Top 5 Cities That Require the Lowest Salaries to Live

5. Detroit, Mich.

• Total needed: $44,080

4. Albuquerque, N.M.

• Total needed: $43,573

3. Lubbock, Texas

• Total needed: $43,201

2. Springfield, Mo.

• Total needed: $40,834

1. El Paso, Texas

• Total needed: $40,204

Additional Study Insights

• Despite California’s high cost of living, at No. 8 on the list, Fresno is one of the more affordable places to live. The total income needed is $44,838.
• Four cities in Texas appear on the list. Arizona, Indiana, Kentucky, Missouri, Montana, Nevada, Ohio and Oklahoma each have two cities where residents can live off less than $50,000.
• The annual rent of every city on the list costs $10,000 or less.

About GOBankingRates

GOBankingRates.com is a personal finance news and features website dedicated to helping visitors live a richer life. From tips on saving money, to investing for retirement or finding a good interest rate, GOBankingRates helps turn financial goals into milestones and money dreams into realities. Its content is regularly featured on top-tier media outlets, including MSN, MONEY, AOL Finance, CBS MoneyWatch, Business Insider and dozens of others. GOBankingRates specializes in connecting consumers with the financial institutions and products that best match their needs. Start your journey toward a rich mind and full wallet with us here.

Contact

Kim Dahlgren, Media Relations GOBankingRates.com kimd@consumertrack.com 310-297-9233 x138