Housing costs are scarier than Britney Spears dancing with knives. But some surprising metrics just dropped that show off the best places for middle class life and it’s not where you’d think.
Here’s Five Fast Facts About the Best US Cities for the Middle Class:
- 📜 Study Buddy - A study by the Ludwig Institute showed that the most expensive major cities in the country also offer the best standard of living for middle-income homes. The higher prices in those cities are actually more than offset by the higher wages.
- 📊 Data Points - Researchers tracked the price changes for housing, food, childcare, and necessities; wages adjusted for the cost of living of all workers (including part time jobs and job seekers) and the true rate of unemployment out of the population.
- 🌇 Top Five - The results were eyebrow-raising. The San Jose California Metro area topped the list, with a true weekly earnings of $1,515. Austin, Texas was ranked second, followed by San Francisco, Baltimore, and Washington DC. All cities that are not exactly known for cheap real estate.
- 📉 Final Five - The bottom five on the list were New York City (New York), Memphis (Tennessee), Tulsa (Oklahoma), Honolulu (Hawaii), and Fresno (California). Fresno had a gut-punching low $753 true weekly earning.
- 😧 Low Pay - The low-ranking cities all had one thing in common: low-paying jobs. Almost two-thirds of workers in Las Vegas are in low-wage jobs, and in Miami, it’s 56%.
🔥Bottom line: The country’s economic situation is incredibly weird. Down is up, black is white, and all that other stuff Joe Pesci yells about in JFK. If and when this will ever balance itself out is yet to be seen, but I have a feeling it’s only going to get stranger.
What do you think of this data?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
