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Old 12-23-2011, 01:43 PM
 
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RankMetro AreaAverage Remaining Wages and Salaries (Per Month/Per Year)1.San Jose-Sunnyvale-Santa Clara, CA$3,901/ $46,8122.Durham, NC$3,513/ $42,1563.Washington-Arlington-Alexandria, DC-VA$3,441/ $41,2924.San Francisco-Oakland-Fremont, CA$3,342/ $40,1045.Trenton-Ewing, NJ$3,270/ $39,2406.Huntsville, AL$3,258/ $39,0967.Boston-Cambridge-Quincy, MA-NH$3,218/ $38,6168.New York-Northern New Jersey-Long Island, NY-NJ $3,209/ $38,5089.Boulder, CO$3,181/ $38,17210.Kennewick-Pasco-Richland, WA$3,117/ $37,40411.Hartford-West Hartford-East Hartford, CT$3,116/ $37,39212.Bridgeport-Stamford-Norwalk, CT$3,098/ $37,17613.Seattle-Tacoma-Bellevue, WA$3,082/ $36,98414.Rochester, MN$3,037/ $36,44415.Corvallis, OR$3,019/ $36,22816.Anchorage, AK$2,969/ $35,62817.Ann Arbor, MI$2,937/ $35,24418.New Haven-Milford, CT$2,929/ $35,14819.Champaign-Urbana, IL$2,925/ $35,10020.Philadelphia-Camden-Wilmington, PA-NJ-DE-MD$2,923/ $35,076


The U.S. Cities With the Most Leftover to Spend ... After Paying for Housing - Housing - The Atlantic Cities



This looks reasonable. Why no Sunbelt cities? Do you agree with this list?
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Old 12-23-2011, 03:35 PM
 
21,182 posts, read 30,336,326 times
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Originally Posted by knowledgeiskey View Post
RankMetro AreaAverage Remaining Wages and Salaries (Per Month/Per Year)1.San Jose-Sunnyvale-Santa Clara, CA$3,901/ $46,8122.Durham, NC$3,513/ $42,1563.Washington-Arlington-Alexandria, DC-VA$3,441/ $41,2924.San Francisco-Oakland-Fremont, CA$3,342/ $40,1045.Trenton-Ewing, NJ$3,270/ $39,2406.Huntsville, AL$3,258/ $39,0967.Boston-Cambridge-Quincy, MA-NH$3,218/ $38,6168.New York-Northern New Jersey-Long Island, NY-NJ $3,209/ $38,5089.Boulder, CO$3,181/ $38,17210.Kennewick-Pasco-Richland, WA$3,117/ $37,40411.Hartford-West Hartford-East Hartford, CT$3,116/ $37,39212.Bridgeport-Stamford-Norwalk, CT$3,098/ $37,17613.Seattle-Tacoma-Bellevue, WA$3,082/ $36,98414.Rochester, MN$3,037/ $36,44415.Corvallis, OR$3,019/ $36,22816.Anchorage, AK$2,969/ $35,62817.Ann Arbor, MI$2,937/ $35,24418.New Haven-Milford, CT$2,929/ $35,14819.Champaign-Urbana, IL$2,925/ $35,10020.Philadelphia-Camden-Wilmington, PA-NJ-DE-MD$2,923/ $35,076


The U.S. Cities With the Most Leftover to Spend ... After Paying for Housing - Housing - The Atlantic Cities



This looks reasonable. Why no Sunbelt cities? Do you agree with this list?
Thank you, thank you, thank you for providing this list!

I get so tired of hearing people whine about how expensive places like DC, Boston and NYC are when recommending them for those looking to start or move on with their professional careers. Yes, they are expensive but one can afford to live in them because of the average salary paid. In fact one can now argue that they can't afford NOT to move to some of these places. In terms of why the Sunbelt isn't represented I would say because the cost of living has risen in many Sunbelt cities, perhaps not as much in housing but other costs such as transportation, insurance (auto and car) and food. If i'm not mistaken, housing is the leading indicator of payscale...
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Old 12-23-2011, 04:50 PM
 
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Very interesting article and there were 2 Sun Belt areas in the top 20(Durham NC and Huntsville AL).


The U.S. Cities With the Most Leftover to Spend ... After Paying for Housing
Flickr/Alex_Ford The comments on my recent post on America's most economically advantaged metros got me thinking.
A number of folks brought up the issue of cost of living. "Does your index take into account the high cost of living in some of the metro areas that top this list," one commenter asked. "The amount of money people have to buy presents is diminished when they're paying over a third of their income on housing."
In many cases, it is a quite a bit more than that. With the help of Charlotta Mellander, I took a look at the amount of money people in different cities have left over after they paid for housing. For comparison purposes, Mellander used the most current (2010) average wage and salary figures from the Bureau of Labor Statistics and compared them to the figures on average monthly expenditures on housing from the American Community Survey (2009).
The variation across metros is huge. In cities at the top of the economically advantaged list, the average person has between $3,500 and nearly $4,000 left at the end of each month after paying for housing. That amounts to between $42,000 and $48,000 per year— or roughly as much as the average wage or salary ($44,110) across all metros. Compare that to the $15,000 to $18,000 left over in the lowest ranking metro, a gap of some $30,000 dollars.
The table below lists the 20 metros with the most money left over after paying for housing:
RankMetro AreaAverage Remaining Wages and Salaries (Per Month/Per Year)1.San Jose-Sunnyvale-Santa Clara, CA$3,901/ $46,8122.Durham, NC$3,513/ $42,1563.Washington-Arlington-Alexandria, DC-VA$3,441/ $41,2924.San Francisco-Oakland-Fremont, CA$3,342/ $40,1045.Trenton-Ewing, NJ$3,270/ $39,2406.Huntsville, AL$3,258/ $39,0967.Boston-Cambridge-Quincy, MA-NH$3,218/ $38,6168.New York-Northern New Jersey-Long Island, NY-NJ $3,209/ $38,5089.Boulder, CO$3,181/ $38,17210.Kennewick-Pasco-Richland, WA$3,117/ $37,40411.Hartford-West Hartford-East Hartford, CT$3,116/ $37,39212.Bridgeport-Stamford-Norwalk, CT$3,098/ $37,17613.Seattle-Tacoma-Bellevue, WA$3,082/ $36,98414.Rochester, MN$3,037/ $36,44415.Corvallis, OR$3,019/ $36,22816.Anchorage, AK$2,969/ $35,62817.Ann Arbor, MI$2,937/ $35,24418.New Haven-Milford, CT$2,929/ $35,14819.Champaign-Urbana, IL$2,925/ $35,10020.Philadelphia-Camden-Wilmington, PA-NJ-DE-MD$2,923/ $35,076
With just a few exceptions, the places at the top of this list have among the most expensive housing in the country. But average wages and salaries are substantially higher, enabling them to more than compensate.
Topping the list is the San Jose metro area, where the average resident has nearly $4,000 a month ($3,901)—or $46,812 per year—left over after paying for housing. Durham, North Carolina (with $3,513 per month), is next followed by greater Washington, D.C. ($3,431), and greater San Francisco ($3,342). Pricey metros such as New York, Boston, Seattle, Philadelphia, and Denver also number among the top 25.
College towns like Boulder, Corvallis, Ann Arbor, Champaign-Urbana, and Ithaca also do quite well, although it's worth noting that one college town, State College, Pa., is near the very bottom of the list


Then, there are some surprises. People in greater Detroit, Pittsburgh, Milwaukee, Syracuse, Buffalo, and Rochester have a substantial amount of money left over after their housing is paid for; more than their counterparts in San Diego or Raleigh.
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Old 12-23-2011, 09:46 PM
 
Location: New Orleans
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Originally Posted by ckhthankgod View Post
Very interesting article and there were 2 Sun Belt areas in the top 20(Durham NC

.... Many cities have more left over than Raleigh.
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Old 12-23-2011, 11:13 PM
hsw
 
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Aggregate stats poorly reflect such stuff as pay or housing costs
Define "pay" for the most productive, most skilled workers...and understand how that pay may dramatically rise every yr for young, talented engineers or traders (and much of that pay is in form of stock, not cash)
Define "housing costs"...a comparable-sized new, latest/greatest-tech/build quality apt or house (w/similar lot size) in an upscale area convenient to relevant high-income jobs

Many of world's highest-income jobs/careers are found in places like PaloAlto or Manhattan...and such careers aren't even available in many allegedly "cheap" towns...so COL compares to flyover Rust/SunBelt towns are meaningless for many lucrative careers
Need to reconcile that a top new software engineer at a Google in SV earns 2x what a similar top new bond trader at a Goldman in Manhattan would earn (prob similarly smart guys who attended a Stanford CS and earned similar GPAs)

A new, upscale apt in SF costs <50% of rent of similar, new, upscale apt in Manhattan

And upscale suburbs of Dall or Hou (or even Detroit or Cleve) are no less costly than the most upscale suburbs of PaloAlto or Manhattan (compare cost of desirable land and psf building costs)
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Old 12-23-2011, 11:45 PM
 
6,932 posts, read 8,083,847 times
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Quote:
Originally Posted by hsw View Post
Aggregate stats poorly reflect such stuff as pay or housing costs
Define "pay" for the most productive, most skilled workers...and understand how that pay may dramatically rise every yr for young, talented engineers or traders (and much of that pay is in form of stock, not cash)
Define "housing costs"...a comparable-sized new, latest/greatest-tech/build quality apt or house (w/similar lot size) in an upscale area convenient to relevant high-income jobs

Many of world's highest-income jobs/careers are found in places like PaloAlto or Manhattan...and such careers aren't even available in many allegedly "cheap" towns...so COL compares to flyover Rust/SunBelt towns are meaningless for many lucrative careers
Need to reconcile that a top new software engineer at a Google in SV earns 2x what a similar top new bond trader at a Goldman in Manhattan would earn (prob similarly smart guys who attended a Stanford CS and earned similar GPAs)

A new, upscale apt in SF costs <50% of rent of similar, new, upscale apt in Manhattan

And upscale suburbs of Dall or Hou (or even Detroit or Cleve) are no less costly than the most upscale suburbs of PaloAlto or Manhattan (compare cost of desirable land and psf building costs)
This was mentioned in the article.
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Old 12-24-2011, 12:57 AM
 
Location: South Beach and DT Raleigh
11,810 posts, read 18,790,027 times
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Originally Posted by Neworleansisprettygood View Post
The cost of living is slightly higher in Raleigh than Durham but that's not the entire story. Raleigh's MSA is more than twice the size of Durham's and the Durham MSA has a larger chunk of the Research Triangle Park's jobs (yes, the economic engine of the Triangle is actually split between two MSA's...brilliant job Census Bureau, just brilliant ). To further complicate the situation, many of the Durham MSA jobs are held by people who live in the Raleigh MSA and vice versa.
In the end, the cost of housing is higher in Raleigh than it is in Durham but the tax rates are higher in Durham than they are in Raleigh. So, the difference in housing costs is probably neglible. Since the Durham MSA has both Duke University and 2/3 of RTP it its boundaries and is significantly smaller than the Raleigh MSA, its proportion of higher paying jobs relative to its metro population is higher than it is in Raleigh. In the end, the way the government describes the area by statistics is irrelevant to how the Triangle actually operates. My dad worked on the Durham side of RTP while we lived in Raleigh and my brother works at Duke while he lives in Raleigh. Likewise, a coworker of mine lives in Durham yet works on the Raleigh side of RTP...etc, etc, etc....
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