25 Cities Where You’re Broke Earning $100,000

It used to be that earning six figures meant living in relative luxury in most of the United States. After all, a $100,000 salary has long been viewed as an important milestone in a person’s career — a sign that you’ve really made it. Unfortunately, the goalposts for success appear to have moved for a considerable portion of America. Many affluent cities that produce the highest salaries have also seen basic costs of living spiral higher and higher. While earning $100,000 a year might make you “rich” in much of the U.S., in some places it isn’t even enough to cover your bills.

GOBankingRates conducted a study to identify cities where $100,000 won’t cover the average cost of rent for an apartment and basic necessities. Using Zillow to find the median rent and Sperling’s Best Places to calculate the average cost of living, the study found 25 cities where even six-figure earners need to find ways to make ends meet.

25. Santa Clarita, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,554
• Overall annual expenditures: $100,101.49
• Amount left over from $100,000: -$101.49

24. Alexandria, Virginia

• Metro area: Washington-Arlington-Alexandria
• Average monthly rent: $1,893
• Overall annual expenditures: $100,466.38
• Amount left over from $100,000: -$466.38

23. Santa Rosa, California

• Metro area: Santa Rosa
• Average monthly rent: $2,578
• Overall annual expenditures: $102,108.39
• Amount left over from $100,000: -$2,108.38

22. Anaheim, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,461
• Overall annual expenditures: $103,689.58
• Amount left over from $100,000: -$3,689.58

21. Garden Grove, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,460
• Overall annual expenditures: $104,054.47
• Amount left over from $100,000: -$4,054.47

20. Washington, D.C.

• Metro area: Washington-Arlington-Alexandria
• Average monthly rent: $2,328
• Overall annual expenditures: $105,757.29
• Amount left over from $100,000: -$5,757.29

19. San Diego

• Metro area: San Diego-Carlsbad
• Average monthly rent: $2,518
• Overall annual expenditures: $107,946.63
• Amount left over from $100,000: -$7,946.63

18. Whittier, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,336
• Overall annual expenditures: $108,311.52
• Amount left over from $100,000: -$8,311.52

Make Your City More Affordable: 101 Side Business Ideas

17. Long Beach, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,323
• Overall annual expenditures: $108,919.67
• Amount left over from $100,000: -$8,919.67

16. Boston

• Metro area: Boston-Cambridge-Newton
• Average monthly rent: $2,757
• Overall annual expenditures: $110,440.04
• Amount left over from $100,000: -$10,440.04

15. Hayward, California

• Metro area: San Francisco-Oakland-Hayward
• Average monthly rent: $2,764
• Overall annual expenditures: $112,933.46
• Amount left over from $100,000: -$12,933.46

14. Arlington, Virginia

• Metro area: Washington-Arlington-Alexandria
• Average monthly rent: $2,239
• Overall annual expenditures: $116,947.25
• Amount left over from $100,000: -$16,947.25

13. Los Angeles

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,771
• Overall annual expenditures: $118,650.07
• Amount left over from $100,000: -$18,650.07

12. Honolulu

• Metro area: Urban Honolulu
• Average monthly rent: $2,405
• Overall annual expenditures: $122,298.97
• Amount left over from $100,000: -$22,298.97

Related: How to Save Money on Your Monthly Expenses

11. Oakland, California

• Metro area: San Francisco-Oakland-Hayward
• Average monthly rent: $2,942
• Overall annual expenditures: $122,359.78
• Amount left over from $100,000: -$22,359.78

10. Seattle

• Metro area: Seattle-Tacoma-Bellevue
• Average monthly rent: $2,238
• Overall annual expenditures: $124,062.60
• Amount left over from $100,000: -$24,062.60

9. Huntington Beach, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,754
• Overall annual expenditures: $125,461.35
• Amount left over from $100,000: -$25,461.35

8. New York

• Metro area: New York-Newark-Jersey City
• Average monthly rent: $2,329
• Overall annual expenditures: $127,285.80
• Amount left over from $100,000: -$27,285.80

7. Irvine, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,903
• Overall annual expenditures: $128,623.73
• Amount left over from $100,000: -$28,623.73

6. Glendale, California

• Metro area: Los Angeles-Long Beach-Anaheim
• Average monthly rent: $2,699
• Overall annual expenditures: $134,583.60
• Amount left over from $100,000: -$34,583.60

5. Bellevue, Washington

• Metro area: Seattle-Tacoma-Bellevue
• Average monthly rent: $2,421
• Overall annual expenditures: $140,908.36
• Amount left over from $100,000: -$40,908.36

4. Fremont, California

• Metro area: San Francisco-Oakland-Hayward
• Average monthly rent: $3,027
• Overall annual expenditures: $154,409.29
• Amount left over from $100,000: -$54,409.29

3. San Jose, California

• Metro area: San Jose-Sunnyvale-Santa Clara
• Average monthly rent: $3,142
• Overall annual expenditures: $158,119
• Amount left over from $100,000: -$58,119

2. San Francisco

• Metro area: San Francisco-Oakland-Hayward
• Average monthly rent: $4,272
• Overall annual expenditures: $185,303.31
• Amount left over from $100,000: -$85,303.31

1. Sunnyvale, California

• Metro area: San Jose-Sunnyvale-Santa Clara
• Average monthly rent: $3,551
• Overall annual expenditures: $238,333.99
• Amount left over from $100,000: -$138,333.99

More on Money and Real Estate

• Best Robo-Advisors of 2019-2020
• 48% of Americans Wish They Could Invest In Stocks — Here’s What’s Holding Them Back
• Best Online Stock Brokers for Beginners 2019-2020
• Best Investment Apps of 2019-2020

Methodology: GOBankingRates determined the 25 cities where you’re broke earning $100,000 by analyzing 200 major cities in the U.S. along the following criteria: (1) average annual expenditures for all consumer units as sourced from the third quarter 2017 through the second quarter 2018 Consumer Expenditure Survey from the Bureau of Labor Statistics and then adjusted to each city’s overall annual expenditures using Sperling’s Best Places’ Overall Cost of Living Index. GOBankingRates also found each city’s (2) average rent, based on Zillow’s median monthly rent from January 2019 to July 2019; (3) itemized costs of living necessities, sourced from Sperling’s Best Places, such as (4) groceries cost of living; (5) healthcare cost of living; (6) utilities cost of living; (7) transportation cost of living; (8) annual cost of necessities, which is the sum of rent, groceries, healthcare, utilities and transportation. All data compiled on Aug. 27, 2019.

About the Author

Joel Anderson

Joel Anderson is a business and finance writer with over a decade of experience writing about the wide world of finance. Based in Los Angeles, he specializes in writing about the financial markets, stocks, macroeconomic concepts and focuses on helping make complex financial concepts digestible for the retail investor.

Read More