The Cities Where Your Paycheck Will Go The Furthest

by / June 16, 2015

Which major cities are providing employees with the most favorable combination of wages and cost of living?

As part of determining the top cities for jobs, Glassdoor considered median salaries for employees in the 50 most populous metros in the U.S., as well as median home value as a measure of cost of living, using the ratio of those two metrics to identify the cities where employees get the greatest cost of living bang for their earned buck.
“Many small and mid-size cities offer good economic value today,” said Dr. Andrew Chamberlain, Glassdoor chief economist, “but I don’t think public perceptions have kept up with that. There are still stereotypes about old industrial cities.”

At the top of the list is Detroit. With a relatively low median home value of $114, 000 and median salary for $45,000, the Motor City provides strong opportunities for workers looking to capitalize on manageable cost of living.

Memphis, Tennessee, where median home value is $107,000, comes in second. Workers in Memphis can expect a median salary of $42,000. Pittsburgh, Pennsylvania, rounds out the top three, with median home value of $124,500 and median salary of $43,000.

Some of the cities providing great value to employees also landed at the top of Glassdoor’s overall ranking of the best cities for jobs. Kansas City, Missouri, is number seven on this list, with median home value of $138,500 and median salary of $46,000. It’s also the number two overall city for jobs right now. Oklahoma City, Oklahoma, comes in 14th on this ranking as well as being the number three city for jobs right now.

The top city for jobs right now, Raleigh, North Carolina, ranks 22nd on this list, with median home value of $198,400 and median salary of $50,950.

 

“When you look at the data on where job opportunities are and what cost of living looks like,” said Chamberlain,“the list may upset many stereotypes people have about small and mid-size cities.”

To view the full list of The 25 Cities Where Your Paycheck Will Go The Furthest, click here. 

Via By Kathryn Dill at Forbes

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