- GoBankingRates looked at the living expenses in 270 of the largest U.S. cities to determine the best cities to live in for those making less than $50K
- Using the 50-30-20 rule (50% of budget goes to necessities, 30% discretionary items and 20% for savings), they found that there are only 20 cities in the U.S. where folks can live comfortably on $50K
- Memphis, Tennessee is the city where $50K goes the furthest with folks left with $25,978 after deducting expenses
Not everyone in the country makes a lot of money, and that can make it tough to find a place where it’s affordable to live, but, according to a new report, there are 20 cities in the country where folks who make under $50K can live comfortably.
GoBankingRates looked at the living expenses in 270 of the largest U.S. Cities, and using the 50-30-20 rule (50% of budget goes to necessities, 30% discretionary items and 20% for savings), they determined the cities where $50K goes the furthest.
As you can imagine, big cities like New York and San Francisco aren't anywhere near this list, and if you are making only $50K the best place to live is apparently Memphis, Tennessee, where rent and utilities are so low it saves folks 26,000 a year. In fact, a person making $50K will wind up with $25,978 after deducting expenses.
Top 10 Cities Where $50K Goes The Furthest
(click hereto see all 20)
- Memphis, TN
- El Paso, TX
- Toledo, OH
- Cleveland, OH
- Tulsa, OK
- Wichita, KS
- Chandler, AZ
- St. Louis, MO
- Lubbock, TX
- Fort Wayne, IN