While one might be lead to believe that the richest cities are the places with a ton of million dollar homes, lots of culture, job opportunities and beauty, the cost of living in these places is really high as well.
Using information from FindtheBest, USA Today produced a list of the 10 richest cities in America. The list includes cities with a population greater than 500,000 that have the highest percentage of households earning at least $150,000 per year.
Also included is information on the corresponding salary a person needs to live comfortably in each of these cities based on studies finding the magic salary number — $75,000 — as the salary amount at which comfort is achieved.
USA Today adjusted this $75,000 upwards or downwards based on living costs in each city, using a cost of living calculator and comparing each city to Phoenix, Ariz. — a city with a moderate cost of living and a median income that’s close to the nationwide benchmark.
The richest cities
These are the 10 richest cities, and the salary a person would need to live comfortably in each of them:
1. San Francisco — You’d need $124,561 to live comfortably in SF.
2. San Jose — You’d need around $115,515 here.
3. Washington, D.C. — $108,092 would be a comfortable salary in the nation’s capital.
4. Seattle — $93,634 would be ideal here.
5. San Diego — You could be comfortable with a salary of $101,984.
6. Boston — $106,082 is what you’d need to be financially comfortable in this northern city.
7. New York City — To live comfortably, you’d need $131,365 in Brooklyn, $169,639 in Manhattan, and $116,907 in Queens.
8. Los Angeles — $102,061 would have you sitting pretty in LA.
9. Denver — $82,036 would be an ideal salary here.
10. Austin — Surprisingly, in spite of the high percentage of people earning over $150,000, you’d only need $72,912 to be comfortable in this Texas city.
These days, costs are high for everyone, but if you live in some of these “rich cities” with higher living costs and you’re not earning big bucks, this makes for an even greater challenge.
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