$100K Income Not Enough in Many US Cities: Where Can You Afford to Live?

According to a recent study by LendingTree, a personal finance website, many families in large American cities are struggling with the high cost of living, even when earning six figures.

The analysis examined monthly expenses in the 100 largest metropolitan areas and found that in 25 of these cities, average spending on essential items surpasses the income of a three-person family earning $100,000 per year. This highlights the growing issue of living costs in major urban centers.

The Reality for Families

For many families, this situation translates into significant financial strain and hardship. They face constant pressure to manage their budgets carefully and may have to make difficult choices regarding essential expenses such as housing, food, and healthcare. The family struggles are real, and the rising cost of living is exacerbating these challenges.

The report emphasizes the need for policymakers and individuals to address this issue and explore solutions that can alleviate the financial burden on families in these cities.