If you earn between $50,000 and $74,999 a year, you’re in good company. According to the U.S. Census Bureau, that’s what the majority of American workers earn annually. But to keep more of what you earn, you need to live where you can spend less and save more, SmartAsset says.
To find the best cities in America to live on a $60,000 average salary, which is the median of the Census Bureau’s largest salary range, SmartAsset used nine metrics to compare 97 cities—all with a population of 60,000 and a median household income of between $55,000 and $65,000.
The nine metrics include median household income; median monthly housing costs; housing costs as a percentage of a $60,000 income; entertainment establishments per 10,000 residents; civic establishments per 10,000 residents; percentage of people without health insurance; average commute time; unemployment rate; and poverty rate.
SmartAsset then ranked all cities across each metric to determine its total score, ranging from 0 to 100, with 100 being the highest possible ranking.
Here, in ascending order, are the 10 best places to live in the United States on a $60,000 salary.
10. Lexington, Kentucky
The Lexington area is home to some of the nation's most prestigious horse farms, making it a great place for both horses and people to live. The median household income is $58,356, and the median monthly housing cost will set you back $991, or just 19.82% of a $60,000 salary. Total Score: 77.22.
9. Cedar Rapids, Iowa
“American Gothic” painter Grant Wood spent most of his life in Cedar Rapids, and anyone earning a median household income of $56,774 can afford to live there, too. The median monthly housing cost is 18.04% of a $60,000 salary, and you'll spend just 19 minutes commuting to earn it. Total Score: 80.19.
8. Omaha, Nebraska
Omaha is a vibrant city located in the center of the country and in the heart of the Midwest. It enjoys one of the lowest unemployment rates in the study at 6.4%, and you'll spend only an average of 20.1 minutes getting to work. While you'll earn a median household income of $61,305, be prepared to spend a median monthly housing cost of $1,044. Total Score: 82.41.
7. Duluth, Minnesota
If you’re civic-minded you’ll like that Duluth has the study’s highest number of civic establishments. The city ranks ninth overall for both housing and cost metrics, but 88th with one of the lowest median household incomes of the study at $55,819 a year. Total Score: 84.07.
6. Appleton, Wisconsin
Harry Houdini, known as the world’s greatest escape artist, was raised in Appleton, which he claimed as his hometown. This Midwestern city has the tenth-lowest unemployment rate of the study, and boasts a robust median household income of $61,129. You'll keep plenty of that hard-earned cash with a median monthly housing cost of just $920. Total Score: 88.52.
5. Wyoming, Michigan
Citizens of this Grand Rapids suburb are thriving with a median household income of $57,570 and a median monthly housing cost of just $880. Total Score: 90.37.
4. Eau Claire, Wisconsin
This former lumber town appeals to people who want a high quality of life and a low cost of living. The median household income in Eau Claire is $59,684, and you'll spend about $915 a month on housing. The July 2020 unemployment rate was 6.6%, and you'll spend an average of just 15 minutes commuting to work—the second shortest of the study. Total Score: 91.85.
3. Lincoln, Nebraska
Lincoln is the state capitol and home to the University of Nebraska, as well as an affordable place to raise a family, attend college, start a business or retire. The median household income is $59,228, and the median cost of housing on a $60,000 salary will set you back less than a fifth of what you earn, or just 18.72%. Total Score: 92.22.
2. Billings, Montana
Founded as a railroad town in 1882, Billings earned the nickname “Magic City” due to its rapid growth during its early days. It's a lively place with 10.48 entertainment establishments per 10,000 residents. The median household income is $58,394, and housing as a percentage of income on a $60,000 salary accounts for 19.20% of that money. Total Score: 97.22.
1. Sioux Falls, South Dakota
Sioux Falls bills itself as the place where small town spirit meets big city benefits, making it a great place to work, live and play. The median household income is $61,058, and you’ll spend on average less than a fifth of it on housing (19.22%). The average commute is just 17.4 minutes. Total Score: 100.
