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The cost of living in america is remarkably high in many of its major cities especially when compared to the median income of its citizens.
Median income vs cost of living. As of may 2014 family and general practitioners had a median income of 180 180 and an average annual income of 186 320. One way employers are incentivizing employees is via perks such as remote work and more time off. Conversely five cities below the average tech pro salary phoenix raleigh charlotte detroit and st. According to the inflation calculator that price today should be 65 191 in january 2020.
Here are the median household incomes regional price comparisons and real salary values in each u s. Bureau of labor statistics publishes annual data on both median and average income for many career fields. Median income for seniors and families. The bars are color coded to show which cities have a higher median income vs a higher cost of living.
The mean income for a us worker in 2013 was just under 27k. Having a higher median income means that living in that city with a median income will be more. The median household income in 1999 was 42 000 according to the census bureau. This infographic takes the cost of groceries housing utilities and more in cities across the 50 states and compares them to the national average.
National median income 60 336 and average cost of living index 100 0. Sperling s best places 2018. All other countries are related to this index. Census bureau 2017 american community survey 1 year estimates table b19013.
Money isn t everything but it s important. The cost of living and average income can also vary considerably within a state so your state s real salary may not reflect what workers in a specific city earn or pay to live. Next the use of the word average for which you most likely meant mean. This income discrepancy could occur because many of the lower salaries are just below the median many of the top salaries are well above the median or a.
When analyzing the cost of living index by city durham is one of the few cities to experience a cost of living decrease which makes it an appealing place to set down roots. Louis all have adjusted cost of living wages that beat the average income for tech pros. Cost of living and purchasing power related to average income we ajusted the average cost of living inside the usa based on 2019 to an index of 100. Therefore with an index of e g.
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