How much do Americans believe they need to earn to feel wealthy? According to a survey from Edelman Financial Engines, 6 in 10 Americans think the answer is at least $100,000 annually. However, the six-figure salary is largely desired to ease financial worries such as bills. Those seeking a comfortable lifestyle may be surprised to learn earning $80,000 is enough money to afford living in some of the nation’s biggest cities.
Learn More: How Much Money Is Needed To Be Considered Middle Class in Every State?
Check Out: 6 Subtly Genius Moves All Wealthy People Make With Their Money
GOBankingRates analyzed data from the U.S. Census, Zillow, Sperling’s BestPlaces and the Bureau of Labor Statistics to determine the cities where you can live comfortably on an $80,000 salary. We also applied the 50/30/20 rule to ensure that needs do not exceed more than 50% of income.
Ranked in order from cities where you’d need to earn the highest to lowest salary, see where you can live on $80,000 or less.
Kansas City, Missouri
Total population: 505,958
Household median income: $65,256
Average monthly mortgage cost: $1,367
Average monthly expenditure cost: $1,935
Total cost of living (monthly): $3,302
Salary needed to live comfortably using the 50/30/20 rule: $79,244
Read Next: How Much a Comfortable Retirement Will Cost You in Each State
For You: How Far $750,000 in Retirement Savings Plus Social Security Goes in Every State
Trending Now: Suze Orman’s Secret to a Wealthy Retirement–Have You Made This Money Move?
Indianapolis
Total population: 882,006
Household median income: $59,110
Average monthly mortgage cost: $1,319
Average monthly expenditure cost: $1,889
Total cost of living (monthly): $3,207
Salary needed to live comfortably using the 50/30/20 rule: $76,979
Discover More: How Long $1 Million in Retirement Will Last in Every State
Milwaukee
Total population: 573,299
Household median income: $49,733
Average monthly mortgage cost: $1,175
Average monthly expenditure cost: $1,972
Total cost of living (monthly): $3,147
Salary needed to live comfortably using the 50/30/20 rule: $75,526
Baltimore
Total population: 584,548
Household median income: $58,349
Average monthly mortgage cost: $1,050
Average monthly expenditure cost: $2,096
Total cost of living (monthly): $3,147
Salary needed to live comfortably using the 50/30/20 rule: $75,524
Trending Now: Here’s the Cost of Living in Every State
El Paso, Texas
Total population: 677,181
Household median income: $55,710
Average monthly mortgage cost: $1,260
Average monthly expenditure cost: $1,878
Total cost of living (monthly): $3,138
Salary needed to live comfortably using the 50/30/20 rule: $75,307
Oklahoma City
Total population: 681,088
Household median income: $64,251
Average monthly mortgage cost: $1,162
Average monthly expenditure cost: $1,972
Total cost of living (monthly): $3,134
Salary needed to live comfortably using the 50/30/20 rule: $75,211
That’s Interesting: Here’s How Much You Need To Earn To Be ‘Rich’ in Every State
Tulsa, Oklahoma
Total population: 411,938
Household median income: $56,648
Average monthly mortgage cost: $1,182
Average monthly expenditure cost: $1,922
Total cost of living (monthly): $3,105
Salary needed to live comfortably using the 50/30/20 rule: $74,513
Wichita, Kansas
Total population: 395,951
Household median income: $60,712
Average monthly mortgage cost: $1,139
Average monthly expenditure cost: $1,911
Total cost of living (monthly): $3,050
Salary needed to live comfortably using the 50/30/20 rule: $73,207
View More: 13 Banks With Immediate Sign-Up Bonuses and No Direct Deposit Required
Memphis, Tennessee
Total population: 630,027
Household median income: $48,090
Average monthly mortgage cost: $838
Average monthly expenditure cost: $1,912
Total cost of living (monthly): $2,750
Salary needed to live comfortably using the 50/30/20 rule: $66,000
Detroit
Total population: 636,787
Household median income: $37,761
Average monthly mortgage cost: $411
Average monthly expenditure cost: $2,291
Total cost of living (monthly): $2,702
Salary needed to live comfortably using the 50/30/20 rule: $64,849
Methodology: GOBankingRates found the top 50 cities by population using the U.S. Census American Community Survey. The cost-of-living indexes were sourced from Sperling’s BestPlaces and national average expenditure costs were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. Using the 50/30/20 rule that states that needs should not exceed 50% of income, the household income to live comfortably was calculated for each city. The cities were sorted to first show the places with the largest influx of population. All data was collected on and is up to date as of Sept. 10, 2024.
More From GOBankingRates
I’m a Realtor: This Is Why No One Wants To See Your Home
3 Things Retirees Should Stop Buying To Save Money Amid Tariffs
How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too
7 Wealth-Building Shortcuts Proven To Add $1K to Your Wallet This Month
This article originally appeared on GOBankingRates.com: 10 Cities Where You Can Live Comfortably Making $80K or Less
