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.
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.
1) Houston
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.
This article appears in May 29 – Jun 4, 2014.
