The best cities in the United States that combine a low cost of living with high wages are in the middle of the country and not along the high-priced coasts. There are several varying factors like economy, population, technology, government and more that determine a country’s average salary. But that's only if the country's high cost of living doesn't deter you. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. CareerCast came up with its ranking after tracking salaries for some 200 careers and weighing factors like the local costs of housing, groceries, transportation and health care against their national averages. However, it's not the only important consideration when deciding where to live. The lowest living costs in Saudi, which doesn't mean that the salaries are lower as well. With a big part of its economy largely dependent on natural resources and the food industry, many of the jobs that its people employ are lower paying, resulting in the annual income of only $25,900. The cost of living in Phoenix is on the rise but it remains 3 percent lower than the national average. Total necessities: $23,035. Data sources include Council for Community and Economic Research (Q2 2019) and Bureau of Labor Statistics (May 2018). Total necessities: $21,625. In Denver, Colorado, utilities cost about 78% of what the average American pays. All other things being equal, it's obviously nicer to have a higher salary compared to our cost of living. The cost of living in Los Angeles is approximately 46% higher than in Dallas. Houston is one of the state's leading areas of population growth, primarily due to its resilient economy. The Scandinavian country has one of the highest price levels for personal goods and services in all of Europe. The money we make helps us afford a certain lifestyle. A typical annual salary in Austin for a management job is $104,200 and $87,763 for a job in information technology. However, these should be taken into consideration along with the other, less quantifiable, factors involved with living in a certain area before making any major life decisions. If your annual living expenses add up to $30,000 in a certain place, but you only make $29,000, you may not feel financially secure at all. July 21, 2016 / 1:59 PM / MoneyWatch iStockphoto Seeking a place to live and work that'll make your dollar holler? When analyzing the cost of living index by city, Durham is one of the few cities to experience a cost of living decrease, which makes it an appealing place to set down roots. Where does the media's portrayal of bisexuality go from here? In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP).The wage distribution is right-skewed; the majority of people earn less than the average wage.For an alternative measure, the median household income uses median instead of average With most of its workers in the service industry, the yearly salary averages out to $19,300, amounting to a mere $1,600 a month. However, average salaries are much higher in some areas. We’ve compiled a list of the best cities in the United States that combine a low cost of living with relatively high per capita income compared with the rest of the nation. © 2016 CBS Interactive Inc.. All Rights Reserved. It’s one of the cities where your paycheck will stretch the furthest, according to a separate GOBankingRates study.
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