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What's needed to live 'comfortably' in California?
A new study breaks down how much money people need to live "comfortably" in the largest metro areas in the US, and no surprise, seven of the cities with the highest required annual salary are in California.
Cities nationwide offer appeal to people for a variety of reasons, from lifestyle to affordability. And if you are thinking about making the leap to a new place to call home, it is ideal to make sure you have the salary to cover the cost of living in a new locale.
GOBankingRates created a report to determine the salary needed to live comfortably in the nation’s largest cities by examining the 50 largest U.S. cities by population and determining the salary needed to live comfortably in each one. The team also used data from the U.S. Census, Zillow, BestPlaces and the Bureau of Labor of Statistics.
SUGGESTED: This map shows the hourly wage needed to afford rent in California
The online personal finance company defined "living comfortably" in their report by applying the "50/30/20" rule, meaning needs should not exceed 50% of an individual’s income.
Researchers also ranked the cities in their list by population growth between 2021 and 2022, and the increase/decrease, household median income, the average value for a single-family home, a livability score, and the total annual cost of living.
SUGGESTED: This is how much money you need to 'live comfortably' in California, data shows
According to the report, of the eight cities where a high salary is required to live comfortably, six are in California.
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In the most expensive city on the list, you need an annual salary of $266,000 to live comfortably. Additionally, you can live comfortably in the least expensive city on the list for less than $65,000 a year.
Housing in San Jose, California, US. (David Paul Morris/Bloomberg via Getty Images (Getty Images)
Top 20 cities in America
- San Jose, California – $265,926
- San Francisco, California – $252,878
- San Diego, California – $207,332
- Los Angeles, California – $194,500
- Seattle, Washington – $179,547
- Long Beach, California – $177,553
- New York City, New York – $175,909
- Oakland, California – $171,898
- Boston, Massachusetts – $164,993
- Washington, D.C. – $153,061
- Miami, Florida – $143,861
- Denver, Colorado – $132,096
- Portland, Oregon – $126,083
- Austin, Texas – $125,372
- Sacramento, California – $119,057
- Las Vegas, Nevada – $112,763
- Atlanta, Georgia – $111,835
- Mesa, Arizona – $109,900
- Nashville, Tennessee – $109,251
- Phoenix, Arizona – $108,919
To see the complete list of the cities where you need a certain salary to live comfortably, click here.
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