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Cost of living is absolutely a thing though. $75k in a major metro area is very tough in 2023. In a very rural area it's passable. One major issue is CPI doesn
by alfalfasprout 3y ago
Cost of living is absolutely a thing though. $75k in a major metro area is very tough in 2023. In a very rural area it's passable.
One major issue is CPI doesn't seem to effectively capture cost of living.
In practice, home ownership is effectively unattainable for a majority of household incomes in the US now.
- JumpCrisscross 3y ago> $75k in a major metro area is very tough in 2023 Most major metro areas are more productive and pay more per capita.
- deleted 3y ago[deleted]
- brendoelfrendo 3y agoThat makes a certain degree of logical sense, but doesn't really pan out in practice. According to the US Census Bureau, the median household income for New York City (all 5 boroughs) was $67,997 in 2021. This is actually less than the New York state median income of $74,314. By demographic breakdown, married-couples families with children do fare better: median income $106,000. Families fall somewhere in the middle, at $80,220. Non-family households are worst off, at $52,862 (probably not coincidentally, a figure that is roughly half the median income of a married couple family).[0] All this to say that cities are great hubs of productivity, but the resulting output is not necessarily evenly distributed. "Pay more per capita" isn't really the figure you should look at when actual income figures are out there. [0] https://data.census.gov/profile?g=160XX00US3651000#income-and-poverty https://data.census.gov/profile?g=160XX00US3651000#income-an...