Americans have been battered by two years of negative real wage growth as personal savings are depleted while credit card debts jump to record highs. Shelter inflation continues to soar while housing affordability is at its lowest in decades.
Homeownership has become unattainable for folks who earn below $100k due to elevated mortgage rates and high home prices, forcing many buyers to stay on the sidelines this spring season.
For those with economic mobility and remote work capabilities, a new report via the fintech website SmartAsset shows the top cities where a $100k household income no longer means living from paycheck to paycheck.
SmartAsset analyzed the after-tax income of 76 major cities and then adjusted those figures for the cost of living in each place. What they found is $100k might go the furthest in Memphis.
Here are the key findings from the report:
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