Best Places To Live On a $50,000 Salary in Every State
Earning $50,000 a year should be plenty to live on in America. The nation’s median income is just over $60,000, meaning that $50,000 per annum is the sort of salary that should clearly secure the basics, at the least. However, depending on where you live, that’s not always true. Making $50,000 a year in San Francisco, for instance, will likely leave you struggling to make ends meet.
So what sort of enclaves against high costs are out there? GOBankingRates has compiled the places in each state that are best suited to someone earning $50,000 a year — with a cost of living that will allow them to save for the future as well as cover costs in the present. The study identified towns with at least 5,000 households and a median income between $45,000 and $55,000 a year using data from the U.S. Census Bureau, then looked at the basic cost of living as sourced from the Bureau of Labor Statistics. The city with the most left over for residents after covering expenses in each state was then selected.
With the exception of Hawaii, every state in the U.S. has great cities where you can live on less than $50,000. Take a look and see where you should live in your area to stretch your salary that much further.
Last updated: Oct. 8, 2020
49. Burlington, Vermont
Median income: $50,324
Total annual necessities: $40,562.13
Salary left over after annual necessities: $9,437.87
48. Fairbanks, Alaska
Median income: $61,665
Total annual necessities: $40,237.60
Salary left over after annual necessities: $9,762.40
47. New Britain, Connecticut
Median income: $45,258
Total annual necessities: $39,236.58
Salary left over after annual necessities: $10,763.42
46. Pawtucket, Rhode Island
Median income: $46,938
Total annual necessities: $38,877.49
Salary left over after annual necessities: $11,122.51
45. Sanford, Maine
Median income: $49,642
Total annual necessities: $37,985.33
Salary left over after annual necessities: $12,014.67
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44. Baltimore
Median income: $48,840
Total annual necessities: $37,048.62
Salary left over after annual necessities: $12,951.38
43. Dover, Delaware
Median income: $49,714
Total annual necessities: $36,443.10
Salary left over after annual necessities: $13,556.90
42. Grand Junction, Colorado
Median income: $49,849
Total annual necessities: $36,060.30
Salary left over after annual necessities: $13,939.70
41. Tulare, California
Median income: $52,546
Total annual necessities: $35,417.87
Salary left over after annual necessities: $14,582.13
40. Pahrump, Nevada
Median income: $45,480
Total annual necessities: $35,138.41
Salary left over after annual necessities: $14,861.59
39. Sheridan, Wyoming
Median income: $52,040
Total annual necessities: $35,055.02
Salary left over after annual necessities: $14,944.98
38. Claremont, New Hampshire
Median income: $48,099
Total annual necessities: $34,990.97
Salary left over after annual necessities: $15,009.03
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37. Millville, New Jersey
Median income: $52,352
Total annual necessities: $34,980.96
Salary left over after annual necessities: $15,019.04
36. Ogden, Utah
Median income: $46,807
Total annual necessities: $34,630.78
Salary left over after annual necessities: $15,369.22
35. Pittsfield, Massachusetts
Median income: $48,555
Total annual necessities: $34,170.83
Salary left over after annual necessities: $15,829.17
34. Bartow, Florida
Median income: $46,850
Total annual necessities: $34,131.26
Salary left over after annual necessities: $15,868.74
33. Lafayette, Louisiana
Median income: $50,182
Total annual necessities: $33,777.45
Salary left over after annual necessities: $16,222.55
32. Grand Forks, North Dakota
Median income: $47,871
Total annual necessities: $33,535.05
Salary left over after annual necessities: $16,464.95
Read More: Here’s How Much You Need Saved in Every State If You Live to 100
31. Clarksville, Tennessee
Median income: $53,007
Total annual necessities: $33,502.97
Salary left over after annual necessities: $16,497.03
30. Idaho Falls, Idaho
Median income: $50,482
Total annual necessities: $33,394.99
Salary left over after annual necessities: $16,605.01
29. Great Falls, Montana
Median income: $45,620
Total annual necessities: $33,390.36
Salary left over after annual necessities: $16,609.64
28. Taylor, Michigan
Median income: $47,370
Total annual necessities: $33,364.97
Salary left over after annual necessities: $16,635.03
27. Los Lunas, New Mexico
Median income: $54,409
Total annual necessities: $33,250.86
Salary left over after annual necessities: $16,749.14
26. Rome, New York
Median income: $48,659
Total annual necessities: $32,944.85
Salary left over after annual necessities: $17,055.15
25. Waynesboro, Virginia
Median income: $45,738
Total annual necessities: $32,808.11
Salary left over after annual necessities: $17,191.89
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24. Yuma, Arizona
Median income: $47,702
Total annual necessities: $32,596.12
Salary left over after annual necessities: $17,403.88
23. Cayce, South Carolina
Median income: $50,545
Total annual necessities: $32,519.86
Salary left over after annual necessities: $17,480.14
Pictured: Downtown Columbia, South Carolina
22. Pendleton, Oregon
Median income: $49,671
Total annual necessities: $32,423.95
Salary left over after annual necessities: $17,576.05
21. Moses Lake, Washington
Median income: $51,800
Total annual necessities: $32,161.36
Salary left over after annual necessities: $17,838.64
20. Munhall, Pennsylvania
Median income: $46,715
Total annual necessities: $31,324.95
Salary left over after annual necessities: $18,675.05
Pictured: Pittsburgh
19. New Haven, Indiana
Median income: $49,522
Total annual necessities: $31,196
Salary left over after annual necessities: $18,804
18. Havelock, North Carolina
Median income: $49,138
Total annual necessities: $30,656.40
Salary left over after annual necessities: $19,343.60
Pictured: Beach near Havelock, North Carolina
17. Radcliff, Kentucky
Median income: $45,344
Total annual necessities: $30,201.17
Salary left over after annual necessities: $19,798.83
See: 20 Best Places To Live on Only a Social Security Check
16. Pampa, Texas
Median income: $45,777
Total annual necessities: $30,190.48
Salary left over after annual necessities: $19,809.52
15. Hastings, Nebraska
Median income: $47,528
Total annual necessities: $30,106.77
Salary left over after annual necessities: $19,893.23
14. Montgomery, Alabama
Median income: $45,921
Total annual necessities: $29,918.22
Salary left over after annual necessities: $20,081.78
13. Tupelo, Mississippi
Median income: $48,116
Total annual necessities: $29,642.12
Salary left over after annual necessities: $20,357.88
12. Columbus, Georgia
Median income: $45,389
Total annual necessities: $29,422.21
Salary left over after annual necessities: $20,577.79
11. Weirton, West Virginia
Median income: $48,775
Total annual necessities: $29,130.45
Salary left over after annual necessities: $20,869.55
10. Peoria, Illinois
Median income: $50,688
Total annual necessities: $29,013.14
Salary left over after annual necessities: $20,986.86
9. Boardman, Ohio
Median income: $54,284
Total annual necessities: $28,912.60
Salary left over after annual necessities: $21,087.40
8. Mason City, Iowa
Median income: $49,656
Total annual necessities: $28,475.10
Salary left over after annual necessities: $21,524.90
Important: Best Places in Every State To Live On a Fixed Income
7. Paragould, Arkansas
Median income: $45,315
Total annual necessities: $28,444.06
Salary left over after annual necessities: $21,555.94
Pictured: St. Francis River in Arkansas
6. Huron, South Dakota
Median income: $46,884
Total annual necessities: $28,261.68
Salary left over after annual necessities: $21,738.32
5. Lawton, Oklahoma
Median income: $47,262
Total annual necessities: $28,157.84
Salary left over after annual necessities: $21,842.16
4. Fond du Lac, Wisconsin
Median income: $49,949
Total annual necessities: $28,136.12
Salary left over after annual necessities: $21,863.88
3. St. Joseph, Missouri
Median income: $47,413
Total annual necessities: $27,903.85
Salary left over after annual necessities: $22,096.15
2. Great Bend, Kansas
Median income: $46,171
Total annual necessities: $27,226.44
Salary left over after annual necessities: $22,773.56
Pictured: Wichita, Kansas
1. Austin, Minnesota
Median income: $46,970
Total annual necessities: $27,189.43
Salary left over after annual necessities: $22,810.57
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Photo disclaimer: Photos are for illustrative purposes only. As a result, some of the images may not reflect the exact towns listed.
Methodology: GOBankingRates determined the best places to live on a $50,000 salary in each state by analyzing cities along these criteria: (1) a minimum of 5,000 households, sourced from the U.S. Census Bureau’s 2018 American Community Survey, (2) a median household income between $45,000 to $55,000, sourced from the U.S. Census Bureau’s 2018 American Community Survey, (3) itemized cost-of-living index for groceries, utilities, transportation, healthcare and miscellaneous expenditure, based on the Bureau of Labor Statistics’ Consumer Expenditure Survey third quarter 2018 through second quarter 2019, which were adjusted to each city’s local cost of living, sourced from Sperling’s Best Places; (4) Zillow Rent Index for January 2020, sourced from Zillow. In order to qualify as a “best” city, the total cost-of-living expenditures could not exceed $50,000, and the city with the lowest overall total cost-of-living expenditures was declared the best. The list of cities was compiled from the U.S. Census Bureau’s 2018 American Community Survey and includes all cities the Census Bureau and Zillow had complete data for. Data was compiled on and up to date as of July 30, 2020.
This article originally appeared on GOBankingRates.com: Best Places To Live On a $50,000 Salary in Every State
