The 10 U.S. cities where a $100,000 salary goes the furthest

msn ^ | 08/18/2023 | Isabel Engel

[ChicagoConservative27]

Signing a contract for a six-figure contract used to allow Americans to feel as though they had made it. But now, $100,000 salary only goes so far — and its worth varies from city to city.

Across major U.S. cities, $100,000 can be worth as much as $86,444 and as little as $35,791, a recent SmartAsset study finds. The study compares the value of $100,000 across 76 major U.S. cities, accounting for cities' income taxes and cost of living.

Cities in the South, from Tennessee to Texas, dominated the top 10 cities where $100,000 goes the furthest. In Memphis, Tennessee, Americans can expect a $100,000 salary to offer a take-home value of $86,444.

On the other hand, in cities like San Francisco and New York, $100,000 does not go nearly as far. In SF, a $100,000 salary is worth only $36,445; in the Big Apple, it's worth just $35,791.

As inflation continues to affect consumers, here are the 10 U.S. cities where a $100,000 salary goes the furthest:

[dakine]

$200k to be part of the Middle Class on Oahu...

[EQAndyBuzz]

“I would rather pay a state income tax, and keep property taxes low.”

You never owned a home in New Jersey have you? I moved from Jersey to Texas, my property tax went from over 15k a year to just under 5k. Same size house and lot and in a gated community.

[magna carta]

very strong lease...very specific. we are really just wanting him to get out. yes place smells like an ammonia pit..we gave 24 hr notice to remove unauthorized pets..then went in and managed to herd a few outside. there were probably 5 left inside they got into back of an unplugged refrigerator. feral cats move in circles in one cabinet door and back into another. Gave a three day notice used lease as a guide but have not filed for eviction yet as we have observed him with a truck. We hope he will “surrender” at end of month (since he paid rent) but if not we will have to get a lawyer I guess. Meanwhile there is lots of projects on exterior of home...lots of cat trapping also. Geez what a way to spend a triple digit summer!!!

[BlueMondaySkipper]

“ No state income tax in Texas, but if you happen to be lucky enough to own a home there, really high property tax rates.”

I’ve heard that,

We split time between Florida and Tennessee, both of which, like Texas, have no state income tax. Florida has much higher property taxes and insurance costs, while TN has a higher sales tax.

Overall TN is MUCH cheaper to live. The high sales tax is actually a blessing in my view because everyone has skin in the game and nobody is pushing to make it higher.

How low are the property taxes in TN? We had a small condo in Knoxville, just outside the city limits. We purchased for $140k and sold 7 years later for $200k. Our property tax was $750 per year. If we would have been in Knoxville proper it would have been $1500. Compare that to a house with the same basic value in Wisconsin, and we were paying $4500/year, PLUS 5.5% income tax