An Average Paycheck Goes A Long Way In Detroit, Memphis, And Pittsburgh

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Cities in the South and in the Rust Belt have the most favorable base salary to home price ratios

 

September 13, 2016

Detroit. Photo: James/Creative Commons.

If you earn an average salary and live on the West Coast, you might as well set up a direct deposit that goes straight from your employer to your landlord or mortgage lender. If you make typical money in the South or in several Rust Belt cities, you’ll live like a king.

Through data from Glassdoor, Huffington Post named the 25 metros where a paycheck can be stretched the furthest. The analysis finds a cost of living ratio for each city by comparing local median salaries to local median home prices.

Detroit had the best ratio at nearly 50 percent. In Motown, the median base salary is $61,000, and the median home value is $123,000. Other high-ranking cities include Memphis, Cleveland, Pittsburgh, Tampa, Dallas, and Hartford, Conn.

“Though there are certainly other financial factors to consider when taking into account total cost of living, this data reinforces that pay typically goes further in mid-sized cities versus big metropolitan areas where there is often tighter competition for housing,” Andrew Chamberlain, Glassdoor chief economist, said in a statement.  

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