Making $100,000 in New York City ‘feels like’ only $36,000, according to new study. Here are the top 10 cities where your money goes further.

• New York City ranked the bottom for cost of living on a six-figure wage in a research of 76 cities. 
• Memphis, Tennessee ranked highest, boasting a shopping for power of more than $86K.
• Seven cities in Texas rounded out the highest 10, whereas locations like LA and Boston had been on the backside. 

A greenback would not go very far in New York City — however in locations like El Paso, a six-figure wage can stretch a lot further than most of the largest metropolitan areas in the country. 

According to a brand new cost of living research by monetary know-how firm SmartAsset, a $100,000 wage in New York City leaves staff with what “feels like” simply $36,000, the bottom of almost 80 cities analyzed by the monetary advisory firm. 

The research looked at cities from Buffalo to Los Angeles to seek out the place a greenback stretches the furthest, utilizing the SmartAsset paycheck calculator and Council for Community and Economic Research knowledge to seek out an estimate of buying power after accounting for living bills. Each metropolis was analyzed utilizing a wage of $100,000.

The research discovered {that a} six-figure wage goes the furthest in Memphis, Tennessee, clocking in at a buying power of $86,444. Although Memphis residents can anticipate to bring residence about $75,000 after taxes on a $100,000 wage, SmartAsset calculated {that a} reduced cost of living made six-figure pay price almost $87,000 in contrast with the nationwide common. 

“Considering the city has a cost of living that’s almost 14% lower than the national average, those after-tax earnings are actually worth $86,444 when adjusting for the cost of living,” Patrick Villanova wrote for SmartAsset. 

Buy Amazon health and household stuffs on discount through this link

While Memphis had the perfect singular cost of living consequence in the research, Texas almost took excessive 10, with illustration from seven completely different cities. El Paso, Corpus Christi, Lubbock, Houston, San Antonio, Fort Worth, and Arlington all ranked in the highest 10 with “feels like” salaries starting from $80,000 to $85,000. 

Oklahoma City got here in third at $70,302, whereas St. Louis rounded out the highest 10 at $69,531.

The lowest-ranked cities in the research ranged from NYC’s measly $36,000 to LA’s $45,000, and simply over $46,000 in Boston. While a high cost of living in these cities has long been anticipated by residents, SmartAsset discovered that $100,000 would not go so far as it used to, and half of people making that wage nonetheless live paycheck to paycheck. 

“Seen as a sign of success and financial comfort, a six-figure salary has long been an important milestone for American workers,” Villanova wrote. “But the times have changed and $100,000 isn’t quite what it used to be, especially as rampant inflation continues to sap the purchasing power of money and push the cost of living higher.”