Though many of us haven’t really realized this, it’s actually very important to consider the earning potential of a given region and its cost of living simultaneously while we are in the process of zeroing in on a region where we would want to live.
How does Finance Affect our Choice of Living Region?
We do want to live close to our friends, relatives or loved ones, but it’s our finances that finally go on to determine the place where we want to stay. And, talking about our finances, it is absolutely important on our end to not to treat the cost of living in a region and its income potential separately because they do work at tandem and not in isolation.
Generally places with fat paychecks in New York (or for that matter in most other parts of the world) are associated with higher cost of living (include food, rent and transport). However, a recent research has actually led to more heartening findings.
Fat Paychecks and Low Cost of Living: What the USA has to Offer you
If you are looking for residential options in the country, then it’s advisable for you to scout regions lying in its middle instead of just arbitrarily shifting towards the more expensive coasts. The middle of the country has regions combining fat paychecks and modest cost of living. Documented below is a rundown of the US cities that combine the best of both worlds.
Read on in order to be duly guided in this regard.
Which US Cities Promise the best virtues of cost of living and paycheck? You will find out right here! Hopefully this read will facilitate your house hunting endeavors by a little extent.
Dallas-Fort Worth, Texas
Lying in the Sunbelt, this city is known to reap the benefits of high net domestic migration and an almost zero existent state income tax. The comparison drawn by Numbeo regarding the costs of living in Los Angeles and Dallas will actually make the picture crystal clear for you!
It has been said that a person needs around $5,066.81 in Los Angeles, CA to maintain the same standard of life that you can actually enjoy for $4, 200 in Dallas, Texas.
Houston, Texas
Houston, Texas is also known for its high domestic migration rate coupled with desirable economic trajectory. Notably, as per Census Bureau’s 2015 population estimates, Texas had witnessed the most remarkable increase in population. Talk about the suburb Harris County in the city and it actually grew at a better rate than any other country. The Department of Numbers proclaimed that the city’s median household nominal income was something around $60,072 last year and its real income was $65,910.
Denver, Colorado
Denver, Colorado is known for its picturesque serenity and outdoorsy community. The area is dotted with a number of small towns, where you are allowed to hike with your family and pets absolutely free of charge. The Living Wage Calculator (from Massachusetts Institute of Technology) reveals that the typical annual salaries of Denver as far as the management jobs are concerned are something around $103,690. The living wage that people must earn in the city (as calculated) is $10.79 as against $14.37 in San Francisco.