Personal Finance

Earn $50,000 a year? Your paycheck will go further in these cities

Key Points
  • The median household income in the U.S. today is around $61,300.
  • Earn less? Here are cities where a smaller income will go further.
A home in Memphis, Tennessee.
Realtor.com

If you're able to work remotely, or have been itching to move elsewhere, it makes sense to consider locations where your money will go far. Or further than other places.

When you account for inflation, the median household income in the United States has barely budged over the last 20 years. Today it stands at around $61,300.

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If you earn less than that, there are still a number of cities where a $50,000 income can go pretty far.

That's the takeaway from new research by the financial site GOBankingRates. The company analyzed the 100 most populous cities in the country, and zeroed in on taxes, rent, utilities, transportation and groceries.

Here are those cities:

1. Memphis, Tennessee

Memphis, Tennessee
Getty Images
  • Median income: $38,230
  • Median rent: $855
  • Monthly groceries: $282.80
  • Monthly transportation: $47.50
  • Utilities: $133.71

2. El Paso, Texas

A street scene in in El Paso, Texas, on November 28, 2018.
PAUL RATJE | AFP | Getty Images
  • Median income: $44,431
  • Median rent: $1,016
  • Monthly groceries: $192.34
  • Monthly transportation: $46.50
  • Utilities: $118.39

3. Toledo, Ohio

Jeff Friedman | Getty Images
  • Median income: $35,808
  • Median rent: $799
  • Monthly groceries: $285.42
  • Monthly transportation: $45
  • Utilities: $164.26

4. Cleveland, Ohio

Pedestrians walk past restaurants and shops on East 4th Street in downtown Cleveland, Ohio, U.S.
Bloomberg | Getty Images
  • Median income: $27,854
  • Median rent: $887
  • Monthly groceries: $320.97
  • Monthly transportation: $50
  • Utilities: $143.33

5. Tulsa, Oklahoma

Tulsa, Oklahoma
Davel5957 | Getty Images
  • Median income: $44,577
  • Median rent: $963
  • Monthly groceries: $296.35
  • Monthly transportation: $45
  • Utilities: $148.79

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