According to Census Bureau estimates, the average American family earns a combined income of $55,000 per year. Which means on average American adults are raking in about $27,000 a year. This quite frankly isn’t enough, especially if you’re living in an expensive city and actually want to plan for the future while still being able to take part in all the expenses that come from, you know, living. So what can you do about it? Well, it may be time to ditch those big cities and move to the Midwest.
Because the truth is, there are plenty of affordable places to live that offer long-term financial stability and, thanks to a study by financial services company Smart Asset, we know where. Using metrics like median household income, entertainment establishments, civic establishments, quality of local healthcare, average commute time, median housing costs, housing costs in relation to median income, and the unemployment and poverty rates, Smart Asset figured out the ten cities that’ll allow you to make the most of your income if you plan on cohabitating.
Topping off the list is Fargo, North Dakota which holds an unemployment rate under 3% and holds an average commute time of 15 minutes. If you’re a resident of LA that is absolute music to your ears. Four of the top-ranked cities are in the Midwest and Capital cities also performed well, thanks to their strong economies and abundance of state government job opportunities.
Not so shockingly absent from the list is California, which is home to nine of the bottom 10 cities to live in according to Smart Asset’s metrics. Check out the top 25 below and think of all the great places you can travel to with all that extra money you’re saving. Best believe we have you covered if you’ve been too cash-strapped to dream of great places you need to visit.
