This post was originally published on this site.
If your wallet’s been feeling lighter every time you leave an Atlanta grocery store or glance at your rent statement, you’re not imagining things — it is expensive to live comfortably here. But take heart, Atlantans: at least we’re not in California.
A new GoBankingRates study ranked the 50 largest U.S. cities based on how much you need to earn to live “comfortably,” using the popular 50/30/20 budget rule (that’s 50% for needs, 30% for wants, and 20% for savings — or, if you’re in Atlanta, 50% for rent, 30% for traffic therapy, and 20% for Waffle House runs).
According to the study, you need to make about $112,700 a year to live comfortably in metro Atlanta, putting us at No. 17 on the list. That’s based on average single-family home prices of about $450,000 and an average monthly mortgage of $2,521.
By comparison, the top of the list is practically Silicon Valley Monopoly money:
- San Jose, California – $264,946 needed
- San Francisco – $239,840 needed
- San Diego – $196,400 needed
And if you’re wondering where you could stretch your dollar a little further, the least expensive major city is Detroit, where a “comfortable” life can be had for about $65,733 a year — though you might want to pack a good winter coat and a sense of adventure.
Still, Atlanta’s doing okay in the livability department, scoring a 78 out of 100 in the study. So while it may take a six-figure income to enjoy those Beltline brunches and big concerts without stressing about bills, at least we can say this: we’ve got Southern charm, four seasons, and far fewer earthquakes than California.
And if you’re curious about how some of the cities nearby ranked, Nashville came in at No. 18 ($110,783 needed); Memphis ranked No. 46 ($66,177); Jacksonville ranked No. 34 ($89,876) and Charlotte, North Carolina, came in at No. 26 ($103,365).
