Is a $50,000 annual salary enough to live comfortably? It depends on where you live.
The median household income in the United States was $68,703 in 2019, according to the U.S. Census Bureau, and GoBankingRates says $50K should be enough to cover the basics. However, if you live in San Francisco, that salary likely wouldn’t be enough to make ends meet.
Using data from the Census Bureau, GoBankingRates identified the city in each state where people can make $45,000-$55,000 a year and had the most money left over after covering their living expenses.
“Every state in the U.S. has options on where you can live on less than $50,000,” GoBankingRates wrote. That’s good news for residents of Hawaii, which last year had no such enclave.
In addition to determining the best city in each state, the analysis ranked the cities nationally. Georgia’s top city came in at No. 12 nationwide.
In Columbus, GoBankingRates found, the median income is $46,408. When you subtract the total annual necessities of $20,439, that leaves $29,561 for investing and other expenditures.
Columbus is a little more than two hours south of Atlanta along Interstate 85. It is home to Fort Benning and the longest urban whitewater course in the world. You can visit the National Infantry Museum and the National Civil War Naval Museum at Port Columbus.
Just south of the city is the state’s “Little Grand Canyon,” which is formally named Providence Canyon.
It was formed by poor farming practices during the 1800s when farmers took no steps to avoid soil erosion. Ditches several feet deep were formed, and as a result, runoff and the rate of erosion increased. Over the years, the flow of water and sand has helped create amazing pinnacles that are almost vertical.
If you’re looking for a great place to live on $50K a year that isn’t in Georgia, consider Austin, Minnesota. Austin has a median income of $46,970, with $27,189.43 needed for necessities. The $22,810.57 left over made it the top-ranked city on GoBankingRates’ list.
You can check out all the cities at GoBankingRates’ website.
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