GOBankingRates

Here’s How Much Money You Need to Make to Live Comfortably in These 50 U.S. Cities

LOS ANGELES, April 5, 2017 — The latest GOBankingRates study reveals that only 11 of the 50 biggest U.S. cities have a median income high enough to cover what’s needed to live comfortably.

To see the full list ordered by population, visit: https://www.gobankingrates.com/personal-finance/money-live-comfortably-biggest-cities-2017

The 2017 data is even worse news for Americans than last year’s study results, which found 15 of the biggest U.S. cities had incomes large enough to support a comfortable living.

The study used the 50-30-20 budgeting rule when determining the income required for a comfortable living in each city. This rule divides income into three buckets: 50 percent is expected to go toward necessities, 30 percent towards discretionary items and 20 percent towards savings.

Top 5 Cities Where People Struggle to Live Comfortably:

Top 5 Cities Where People Can Easily Afford to Live Comfortably:

 

Additional Insights:

 

 

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