24 Cities Where Earning $100,000 Is Not Considered Rich

Not too long ago, it was possible to live in relative luxury if you earned six figures annually. However, as more affluent cities produce higher salaries and basic cost of living expenses continue to increase, this is no longer the case across many U.S. cities.

GOBankingRates conducted a study to identify cities where $100,000 won’t cover the average cost for a home and basic necessities. Using Sperlings BestPlaces to source the overall cost of living indexes and the Bureau of Labor Statistics 2022 Consumer Expenditure Survey to find the average overall cost of expenditures in each city, the study found 24 cities where even six-figure earners need to find ways to make ends meet.

In these 24 cities, you’ll break the bank even if you’re making bank.

• Metro area: San Francisco-Oakland-Hayward
• Average home value: $1,334,145
• Annual cost expenditure: $179,134
• Amount left over from $100,000: -$79,134

• Metro area: San Francisco-Sunnyvale-Santa Clara
• Average home value: $1,411,757
• Annual cost expenditure: $168,554
• Amount left over from $100,000: -$68,554

• Metro area: San Francisco-Oakland-Berkeley
• Average home value: $839,381
• Annual cost expenditure: $142,650
• Amount left over from $100,000: -$42,650

• Metro area: San Francisco-Oakland-Berkeley
• Average home value: $1,498,632
• Annual cost expenditure: $142,650
• Amount left over from $100,000: -$42,650

• Metro area: New York-Newark-Jersey City
• Average home value: $760,964
• Annual cost expenditure: $125,868
• Amount left over from $100,000: -$25,868

• Metro area: Urban Honolulu
• Average home value: $1,257,145
• Annual cost expenditure: $125,138
• Amount left over from $100,000: -$25,138

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $875,310
• Annual cost expenditure: $120,323
• Amount left over from $100,000: -$20,323

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $797,161
• Annual cost expenditure: $120,323
• Amount left over from $100,000: -$20,323

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $1,568,825
• Annual cost expenditure: $120,323
• Amount left over from $100,000: -$20,323

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $1,287,514
• Annual cost expenditure: $120,323
• Amount left over from $100,000: -$20,323

• Metro area: Washington-Arlington-Alexandria
• Average home value: $943,569
• Annual cost expenditure: $119,885
• Amount left over from $100,000: -$19,885

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $984,007
• Overall annual expenditures: $117,988
• Amount left over from $100,000: -$17,988

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $862,414
• Overall annual expenditures: $117,988
• Amount left over from $100,000: -$17,988

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $817,318
• Overall annual expenditures: $117,988
• Amount left over from $100,000: -$17,988

• Metro area: Los Angeles-Long Beach-Anaheim
• Average home value: $1,272,562
• Overall annual expenditures: $117,988
• Amount left over from $100,000: -$17,988

• Metro area: Seattle-Tacoma-Bellevue
• Average home value: $891,570
• Overall annual expenditures: $115,361
• Amount left over from $100,000: -$15,361

• Metro area: New York-Newark-Jersey City
• Average home value: $652,703
• Overall annual expenditures: $114,558
• Amount left over from $100,000: -$14,558

• Metro area: San Diego-Chula Vista-Carlsbad
• Average home value: $1,075,228
• Overall annual expenditures: $113,026
• Amount left over from $100,000: -$13,026

• Metro area: San Diego-Chula Vista-Carlsbad
• Average home value: $855,119
• Overall annual expenditures: $113,026
• Amount left over from $100,000: -$13,026

• Metro area: Los Angeles-Long Beach-AnaheimOxnard-Thousand Oaks-Ventura
• Average home value: $724,278
• Overall annual expenditures: $112,369
• Amount left over from $100,000: -$12,369

• Metro area: Washington-Arlington-Alexandria
• Average home value: $706,416
• Overall annual expenditures: $110,837
• Amount left over from $100,000: -$10,837

• Metro area: Santa Rosa-Petaluma
• Average home value: $725,845
• Overall annual expenditures: $110,764
• Amount left over from $100,000: -$10,764

• Metro area: Boston-Cambridge-Newton
• Average home value: $745,611
• Overall annual expenditures: $110,034.
• Amount left over from $100,000: -$10,034

• Metro area: New York-Newark-Jersey City
• Average home value: $586,681
• Overall annual expenditures: $101,789
• Amount left over from $100,000: -$1,789

Cynthia Measom contributed to the reporting for this article.

Methodology: In this study, GOBankingRates started by gathering the [1] top 150 most populated cities as sourced from the total population in the US Census American Community Survey. For each city the [2] overall cost of living indexes were sourced from Sperlings BestPlaces and multiplied by the [3] overall average national expenditure cost for all consumers as sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey to find the average overall cost of expenditures for each city. The cities with expenditures costing over $100,000 were kept for this study. The average total expenditure cost was subtracted from the $100,000 savings to find how much more the expenditures cost and sorted to show the cities the farthest away from the savings amount. The [4] livability index was included as supplemental information as sourced from AreaVibes. The [5] average single-family home value from December 2023, the [6] metro area, and the [7] county name were also included for supplemental information as sourced from the Zillow Home Value Index. All data was collected and is up to date as of February 7th, 2024