Difference Between What You Make and How far It Goes in Houston and Four Other Cities
Your money's not worth what you think it is.
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It's called real personal income. You might make more than the median yearly salary here, which is $31,265, but how much bang for your buck are you really getting?
Here's a look (via Planet Money's breakdown of Bureau of Economic Analysis Data) at the real value of median income in five cities.
5) Hot Springs, AR
If you make $25,020 it's real value is $27,771. This must be the only place in American where the median salary is worth more, but we're still not ready to move here.
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4) Los Angeles
For the folks making the median, just $29,914, they only get about $23,929 out of it. We can't imagine how life in LA is possible at this price.
3) New York City
We bet you're not surprised that a $37,064 yearly median income gets you a whole $28,799 in money power.
2) Dallas-Fort Worth
The median income here is $31, 756, a little higher than Houston. And it's real value? $28,818.
If you're pulling in the median here, which is $31,236, then you're really only getting about $29, 467. Not that much bang for the buck.
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