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5 U.S. Cities Where Your Paycheck Goes the Furthes
5 U.S. Cities Where Your Paycheck Goes the Furthest
Houston Charlotte Austin Dallas Denver
Many factors influence where we choose to live. While our home's proximity to friends and family is a crucial deciding factor, ultimately where we decide to live is influenced by our finances. The two major factors influencing where we live are the cost of living and the income potential in a given region. The problem with looking at these two factors individually, however, is that they often are highly influenced by one another and have a strong positive correlation. Fat paychecks in New York City and San Francisco translate into $20 salads, exorbitant rents and surge-priced Uber rides.
Rent is excruciating in New York, but salads don't cost $20 unless you're a tourist and food is actually cheaper than most other parts of the country if you know what you're doing. The reason is basic economics--extreme competition. There is a restaurant, often several, on every block and in the outer boroughs a plethora of supermarkets and food stores. Clothes are also cheaper because it is the center of the fashion industry and again extreme competition. Transportation is reasonable if you don't mind public transportation, which goes everywhere. Heating and electric are also reasonable because of smaller apartments versus houses. But rent, ah rent, it's unbearable. Again it's economics though--a lot of people, high demand, and a limited amount of space, i.e., supply.
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