Living in a place where wages are high doesn’t necessarily mean residents will get the most bang for the buck. According to Forbes’ Joel Kotkin, it’s the people in less glitzy places, and not necessarily high wages, that have the highest effective pay.
Housing cost plays a major role in deciding whether or not a household’s pay is “effective.” For example, incomes of workers in Houston can stretch much further than workers in San Jose, Calif.
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