The median salary in America is $57,652 – which doesn’t get you far in many parts of the country, but a new report has identified 20 cities where you can live the good life on $50,000 a year.
Researchers at GoBankingRates analyzed cost of living along with federal, state and local taxes in cities across the country to pinpoint which ones offered an affordable – and fun – lifestyle on a low salary.
Based on those criteria, Memphis, Tennessee ranks first in the nation. In addition to a rich musical history and low rents, Memphis offers a reasonable tax policy: residents take home $41,806 after taxes, and $25,978 after covering living expenses like rent and utilities.
El Paso, Texas came in second on the list. The city has a median rent of $1,016, and has the lowest average grocery bill of all cities on the list, at $200 a month. After taxes, the typical earner will have $41,806, and that drops to $25,327 after living expenses.
This map illustrates the top 10 best cities to live on a salary of $50,000. Researchers analyzed cost of living along with federal, state and local taxes in cities across the country to pinpoint which ones offered an affordable – and fun – lifestyle on a low salary
In third place was Toledo, Ohio, with a post-tax take home salary of $39,629. After expenses the typical earner will be left with $24,105. Toledo has the lowest median rent on the list, at $799 a month – but that doesn’t make it affordable for everyone in the city, which has a median income of roughly $35,000.
Cleveland, Ohio ranked fourth on the list, leaving $39,754 after taxes and $22,938 after living expenses for the typical earner. However it’s worth noting that $50,000 would be a high salary in that city, where median income is less than $28,000 a year.
Tulsa, Oklahoma came in fifth on the list, thanks in part to its low median rent of $956 a month and a $45 a month. After taxes, a $50,000 salary gets you $39,862, which drops to $22,424 after living expenses.
In sixth places was Wichita, Kansas, where $50,000 comes to $39,712 after taxes and $22,109 after living expenses. Its median rent is less than $1,000.
Chandler, Arizona ranks seventh, with income coming to $40,526 after taxes and $21,591 after living expenses, which are slightly higher than most other cities on the list.
St. Louis, came in eighty place on the list, with post-tax income coming to $40,045. After taxes that drops to $21,469. Known as the Gateway to the West, St. Louise has a low cost of living.
Lubbock, Texas ranked ninth on the list, with a post-tax income of $41,806, which drops to $21,133 after taxes. Home to Texas Tech, Lubbock is a college town, and its location in a state without an income tax helped it make the list.
Rounding out the top 10 was Fort Wayne, Indiana, which has a comparably high median rent of $1,269. However it’s in a state with no income taxes at the local level, which helped it make the list. A $50,000 salary comes to $41,806 after taxes and $20,904 after living expenses.
Spokane, Washington ranked eleventh, with a $41,806 take home after taxes, and $20,904 after living expenses.
Oklahoma City followed, with post-tax income of $39,862 and $20,881 after living expenses.
Winston-Salem, North Carolina ranked thirteenth on the list, with a take home of $39,537 after taxes and $20,640 after living costs.
San Antonio, Texas followed, with post-tax income of $41,806 and $20,422 after living expenses.
In fifteenth place was Jacksonville, Florida, with a take-home pay of $41,806 after taxes and $20,167 after covering for rent, groceries and other costs.
Buffalo, New York ranked sixteenth on the list, with a median rent of $1,040. The take-home pay is $39,460 after taxes and $20,155 after living expenses.
Louisville, Kentucky came in at 17 on the list, with post-tax income of $38,332 and $20,106 after living expenses.
Stockton, California followed, with $40,175 after taxes and $19,959 after cost of living. The city is east of the San Francisco Bay Area, so it avoids the high-cost of housing and living found in much of California.
Greensboro, North Carolina came in nineteenth on the list, with post-tax income of $39,537 and an income of $19,740 after living expensese.
Finally, Corpus Christi, Texas was last on the list, with a post-tax salary of $41,806 and $19,728 after living expenses.