For several years, many Americans have said they need to earn six-figure salaries to feel financially stable and successful. This amount of money is quickly becoming a non-negotiable factor for enjoying a good life.
According to new GOBankingRates data, achieving the American dream and enjoying a comfortable lifestyle requires a minimum of earning $89,000 annually across the 50 largest U.S. cities.
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GOBankingRates determined the household income necessary for achieving the American dream by analyzing the 50 largest U.S. cities based on population and sourcing key factors, such as annual grocery and mortgage expenses.
The annual cost of living was calculated using average mortgage and expenditure costs and the total cost of living was doubled to find the amount of household income necessary for a comfortable lifestyle.
Take a look at the salary needed to achieve the American dream, from highest to lowest annual earnings.
Correction: The original version of this incorrectly calculated cost of living. The ranking has been updated using correct numbers.
1. San Jose, California
Household income for the American dream: $319K
Total annual cost of living: $160K
Grocery costs per year: $10,302
Average monthly mortgage cost: $9,228
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2. San Francisco
Household income for the American dream: $297K
Total annual cost of living: $149K
Grocery costs per year: $10,565
Average monthly mortgage cost: $8,110
3. San Diego
Household income for the American dream: $242K
Total annual cost of living: $121K
Grocery costs per year: $9,940
Average monthly mortgage cost: $6,660
4. Los Angeles
Household income for the American dream: $234K
Total annual cost of living: $117K
Grocery costs per year: $9,433
Average monthly mortgage cost: $6,007
5. New York City
Household income for the American dream: $220K
Total annual cost of living: $110K
Grocery costs per year: $10,565
Average monthly mortgage cost: $4,656
6. Long Beach, California
Household income for the American dream: $215K
Total annual cost of living: $108K
Grocery costs per year: $9,233
Average monthly mortgage cost: $5,321
7. Seattle
Household income for the American dream: $212K
Total annual cost of living: $106K
Grocery costs per year: $9,849
Average monthly mortgage cost: $5,433
8. Oakland, California
Household income for the American dream: $205K
Total annual cost of living: $102K
Grocery costs per year: $10,085
Average monthly mortgage cost: $4,761
9. Boston
Household income for the American dream: $199K
Total annual cost of living: $99K
Grocery costs per year: $10,094
Average monthly mortgage cost: $4,685
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10. Washington, D.C.
Household income for the American dream: $187K
Total annual cost of living: $94K
Grocery costs per year: $10,339
Average monthly mortgage cost: $4,165
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11. Miami
Household income for the American dream: $177K
Total annual cost of living: $88K
Grocery costs per year: $9,722
Average monthly mortgage cost: $3,839
12. Denver
Household income for the American dream: $159K
Total annual cost of living: $80K
Grocery costs per year: $9,233
Average monthly mortgage cost: $3,452
13. Portland, Oregon
Household income for the American dream: $156K
Total annual cost of living: $78K
Grocery costs per year: $9,396
Average monthly mortgage cost: $3,228
14. Austin, Texas
Household income for the American dream: $153K
Total annual cost of living: $77K
Grocery costs per year: $8,762
Average monthly mortgage cost: $3,156
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15. Sacramento, California
Household income for the American dream: $150K
Total annual cost of living: $75K
Grocery costs per year: $9,496
Average monthly mortgage cost: $2,864
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16. Las Vegas
Household income for the American dream: $143K
Total annual cost of living: $71K
Grocery costs per year: $9,269
Average monthly mortgage cost: $2,656
17. Atlanta
Household income for the American dream: $141K
Total annual cost of living: $70K
Grocery costs per year: $8,952
Average monthly mortgage cost: $2,577
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18. Mesa, Arizona
Household income for the American dream: $138K
Total annual cost of living: $68K
Grocery costs per year: $8,807
Average monthly mortgage cost: $2,617
19. Nashville, Tennessee
Household income for the American dream: $136K
Total annual cost of living: $68K
Grocery costs per year: $9,242
Average monthly mortgage cost: $2,600
20. Phoenix
Household income for the American dream: $136K
Total annual cost of living: $68K
Grocery costs per year: $8,816
Average monthly mortgage cost: $2,485
21. Colorado Springs, Colorado
Household income for the American dream: $134K
Total annual cost of living: $67K
Grocery costs per year: $8,916
Average monthly mortgage cost: $2,704
22. Raleigh, North Carolina
Household income for the American dream: $133K
Total annual cost of living: $67K
Grocery costs per year: $9,115
Average monthly mortgage cost: $2,600
23. Virginia Beach, Virginia
Household income for the American dream: $133K
Total annual cost of living: $66K
Grocery costs per year: $9,088
Average monthly mortgage cost: $2,453
24. Bakersfield, California
Household income for the American dream: $130K
Total annual cost of living: $65K
Grocery costs per year: $8,970
Average monthly mortgage cost: $2,323
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25. Fresno, California
Household income for the American dream: $130K
Total annual cost of living: $65K
Grocery costs per year: $8,989
Average monthly mortgage cost: $2,308
26. Charlotte, North Carolina
Household income for the American dream: $129K
Total annual cost of living: $64K
Grocery costs per year: $8,989
Average monthly mortgage cost: $2,368
27. Chicago
Household income for the American dream: $121K
Total annual cost of living: $61K
Grocery costs per year: $8,807
Average monthly mortgage cost: $1,813
28. Dallas
Household income for the American dream: $121K
Total annual cost of living: $60K
Grocery costs per year: $8,979
Average monthly mortgage cost: $1,873
29. Arlington, Texas
Household income for the American dream: $120K
Total annual cost of living: $60K
Grocery costs per year: $8,889
Average monthly mortgage cost: $1,858
30. Minneapolis
Household income for the American dream: $119K
Total annual cost of living: $60K
Grocery costs per year: $9,170
Average monthly mortgage cost: $1,964
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31. Fort Worth, Texas
Household income for the American dream: $118K
Total annual cost of living: $59K
Grocery costs per year: $8,853
Average monthly mortgage cost: $1,768
32. Tucson, Arizona
Household income for the American dream: $117K
Total annual cost of living: $58K
Grocery costs per year: $8,653
Average monthly mortgage cost: $1,983
33. Jacksonville, Florida
Household income for the American dream: $115K
Total annual cost of living: $58K
Grocery costs per year: $8,989
Average monthly mortgage cost: $1,753
34. Albuquerque, New Mexico
Household income for the American dream: $114K
Total annual cost of living: $57K
Grocery costs per year: $8,699
Average monthly mortgage cost: $1,965
35. Houston
Household income for the American dream: $113K
Total annual cost of living: $57K
Grocery costs per year: $8,889
Average monthly mortgage cost: $1,597
36. Philadelphia
Household income for the American dream: $113K
Total annual cost of living: $57K
Grocery costs per year: $9,288
Average monthly mortgage cost: $1,254
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37. Omaha, Nebraska
Household income for the American dream: $110K
Total annual cost of living: $55K
Grocery costs per year: $8,753
Average monthly mortgage cost: $1,634
38. Louisville, Kentucky
Household income for the American dream: $106K
Total annual cost of living: $53K
Grocery costs per year: $8,789
Average monthly mortgage cost: $1,464
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39. Columbus, Ohio
Household income for the American dream: $105K
Total annual cost of living: $53K
Grocery costs per year: $8,952
Average monthly mortgage cost: $1,509
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40. San Antonio
Household income for the American dream: $105K
Total annual cost of living: $53K
Grocery costs per year: $8,282
Average monthly mortgage cost: $1,482
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41. Kansas City, Missouri
Household income for the American dream: $103K
Total annual cost of living: $52K
Grocery costs per year: $8,771
Average monthly mortgage cost: $1,388
42. Baltimore
Household income for the American dream: $101K
Total annual cost of living: $50K
Grocery costs per year: $8,880
Average monthly mortgage cost: $1,059
43. Indianapolis
Household income for the American dream: $100K
Total annual cost of living: $50K
Grocery costs per year: $8,481
Average monthly mortgage cost: $1,323
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44. El Paso, Texas
Household income for the American dream: $99K
Total annual cost of living: $50K
Grocery costs per year: $8,336
Average monthly mortgage cost: $1,324
45. Milwaukee
Household income for the American dream: $99K
Total annual cost of living: $49K
Grocery costs per year: $8,418
Average monthly mortgage cost: $1,194
46. Oklahoma City
Household income for the American dream: $99K
Total annual cost of living: $49K
Grocery costs per year: $8,581
Average monthly mortgage cost: $1,171
47. Tulsa, Oklahoma
Household income for the American dream: $98K
Total annual cost of living: $49K
Grocery costs per year: $8,599
Average monthly mortgage cost: $1,216
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48. Wichita, Kansas
Household income for the American dream: $95K
Total annual cost of living: $48K
Grocery costs per year: $8,608
Average monthly mortgage cost: $1,134
49. Detroit
Household income for the American dream: $91K
Total annual cost of living: $46K
Grocery costs per year: $8,064
Average monthly mortgage cost: $421
50. Memphis, Tennessee
Household income for the American dream: $89K
Total annual cost of living: $44K
Grocery costs per year: $8,454
Average monthly mortgage cost: $842
Methodology: For this study, GOBankingRates analyzed the largest 50 cities based on population, as sourced from the U.S. Census American Community Survey. The cost-of-living indexes were sourced from Sperling’s BestPlaces. Average expenditure costs were from the Bureau of Labor Statistics Consumer Expenditure Survey. Home value and mortgage data came from Zillow Home Value Index for January 2025 and Federal Reserve Economic Data. Using the 50/30/20 rule that states 50% of household income goes to needs, 30% goes to discretionary spending and 20% is used for savings, the cost of living was doubled to find the income needed to live the American Dream. All data was collected on and is up to date as of March 4, 2025.
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This article originally appeared on GOBankingRates.com: Salary Needed To Achieve the American Dream in the 50 Largest Cities
