To have a good quality of life, people have to evaluate what average income they receive and in which cities they are most likely to have access to all the comforts and basic needs with that amount of money. The good news for middle class Americans is that they can aspire to live in the most expensive cities of the United States.
According to an analysis by the Ludwig Institute for Shared Economic Prosperity (LISEP), people who earn less than $100,000 a year can be considered low-income in cities like San Francisco given the high cost of living, but this area makes up for it with better incomes compared to other state averages.
According to the analysis, the Bay area that includes Saint Joseph and San Francisco can be a great option for families middle class. These are the details and areas most attractive to that demographic.
The US Middle Class Can Have a Great Quality of Life
Rising inflation has led many Americans to affirm that with their income they cannot satisfy their basic needs because the costs of living have risen, which includes everything from property rent and mortgages to groceries. Despite this, the LISEP analysis indicates that the middle class You may aspire to live in large cities where the cost of living is considered high and would seem out of reach.
The reason for the above, they concluded, is that these cities offer a greater diversity of jobs and higher salaries than average. According to the analysis, people from middle class Those living in cities with a lower cost of living also earn less and therefore have greater financial difficulties compared to that sector in more prosperous cities.
As an example, they pointed out the case of Las Vegas and Fresno where, although there are a good number of jobs, they offer low salaries. To this we must add that the price of housing has increased by around 54 percent according to information from the Consumer Price Index of USA. However, the LISEP study has found that costs have increased almost threefold.
In order to reach the conclusions, the Institute considered essential needs such as the cost of housing, food, as well as the average income of full- and part-time workers, and the number of unemployed.
The 5 cities with the best opportunities for the US middle class
In the analysis, first place went to the San José-Sunnyvale-Santa Clara area, California with an unemployment rate of 42 percent, average weekly earnings of US$1,515. In this place, 37.5 percent of the inhabitants have sufficient income to satisfy their needs.
Second place went to Austin-Round Rock, Texas with an unemployment rate of 42 percent, average weekly earnings of US$1,126. Here 33.5 percent of the inhabitants register sufficient income to meet their needs.
In third place, San Francisco-Oakland-Hayward is mentioned, California with an unemployment rate of 47 percent and weekly earnings of US$1,370. In this place, 37.5 percent of the inhabitants have sufficient income to cover their needs.
The next place went to Baltimore-Columbia-Towson in Maryland It has an unemployment rate of 45 percent, an average weekly income of US$1,110. 36 percent of the inhabitants of this area have sufficient income to cover their needs.
Fifth place went to the Washington-Arlington-Alexandria area where the unemployment rate is 42 percent and average weekly earnings of US$1,241 are recorded. In this place, 33.8 percent of the inhabitants have the necessary income to cover their needs.
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