If you’re able to work remotely, or have been itching to move elsewhere, it makes sense to consider locations where your money will go far. Or further than other places.
When you account for inflation, the median household income in the United States has barely budged over the last 20 years. Today it stands at around $61,300.
If you earn less than that, there are still a number of cities where a $50,000 income can go pretty far.
That’s the takeaway from new research by the financial site GOBankingRates. The company analyzed the 100 most populous cities in the country, and zeroed in on taxes, rent, utilities, transportation and groceries.
Here are those cities:1. Memphis, Tennessee
- Median income: $38,230
- Median rent: $855
- Monthly groceries: $282.80
- Monthly transportation: $47.50
- Utilities: $133.71
2. El Paso, Texas
- Median income: $44,431
- Median rent: $1,016
- Monthly groceries: $192.34
- Monthly transportation: $46.50
- Utilities: $118.39
3. Toledo, Ohio
- Median income: $35,808
- Median rent: $799
- Monthly groceries: $285.42
- Monthly transportation: $45
- Utilities: $164.26
4. Cleveland, Ohio
- Median income: $27,854
- Median rent: $887
- Monthly groceries: $320.97
- Monthly transportation: $50
- Utilities: $143.33
5. Tulsa, Oklahoma
- Median income: $44,577
- Median rent: $963
- Monthly groceries: $296.35
- Monthly transportation: $45
- Utilities: $148.79
