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Old 03-06-2017, 07:40 PM
 
Location: Kentucky
185 posts, read 164,199 times
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Would the booming cities in the Southern areas fit the bill here at least temporarily (e.g. Atlanta, Austin, Charlotte, Nashville, etc.)? These areas are experiencing a rapid increase in COL that it cannot keep up with the wage that is typically paid.
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Old 03-06-2017, 10:22 PM
 
Location: The canyon (with my pistols and knife)
13,223 posts, read 17,966,293 times
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Quote:
Originally Posted by fivenine View Post
Would the booming cities in the Southern areas fit the bill here at least temporarily (e.g. Atlanta, Austin, Charlotte, Nashville, etc.)? These areas are experiencing a rapid increase in COL that it cannot keep up with the wage that is typically paid.
I don't know what the trend has been this decade, but I do know that Atlanta was one of only two major metropolitan areas in the U.S. (Detroit) that did not "stay whole" from 2000-2010. In other words, the cost of living in Atlanta increased faster from 2000-2010 than the average income, and Atlanta became less affordable, relatively speaking. It's still a bargain relative to the big heavies in the Northeast and on the West Coast, but it no longer has the incredible bang for your buck that it did before 2000.
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Old 03-07-2017, 03:41 AM
 
2,005 posts, read 1,485,232 times
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Pretty much all of California. Low income, high home prices.

At least the Northeastern states have high incomes to match their home prices...
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Old 03-07-2017, 07:53 AM
 
Location: Downtown Phoenix, AZ
18,927 posts, read 6,877,659 times
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Quote:
Originally Posted by SeaDoo342 View Post
Pretty much all of California. Low income, high home prices.

At least the Northeastern states have high incomes to match their home prices...
Pretty much all? Incomes are high in the Bay Area, and even Greater LA is above the national average
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Old 03-07-2017, 03:06 PM
 
Location: St. Louis
2,480 posts, read 2,227,289 times
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Quote:
Originally Posted by FirebirdCamaro1220 View Post
Wages in most of California are above the national average. When I think lackluster wages, I think of the South and the Plains mainly
If this article is to be believed, the median salary for all employees in the state of California is $35,000. That puts California on par with Iowa, Kansas, Ohio, and Wisconsin. For Millennials the median salary is only $21,900.
Millennial median wage map - Business Insider

Additionally, looking at the Los Angeles area specifically, median Millennial salaries are on par with salaries in cities like St. Louis and Cleveland:
https://www.bloomberg.com/graphics/2...ity/table.html

It's a rough time out in many expensive metro areas for young people.
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Old 03-08-2017, 07:13 AM
 
Location: Tennessee
23,592 posts, read 17,582,380 times
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Quote:
Originally Posted by fivenine View Post
Would the booming cities in the Southern areas fit the bill here at least temporarily (e.g. Atlanta, Austin, Charlotte, Nashville, etc.)? These areas are experiencing a rapid increase in COL that it cannot keep up with the wage that is typically paid.
As a native Tennessean, I think so.

This is what $565,000 gets you in a hip Nashville neighborhood these days. It's mind-boggling. Many of the hip Nashville neighborhoods are more expensive than hip neighborhoods of Chicago. The outside of this place looks like absolute ass

https://www.trulia.com/property/3259...ville-TN-37212

Get a bit farther out, though still within in 45 minutes to downtown Nashville, and it gets much more reasonable. FWIW, I think this townhome is absolutely beautiful.

https://www.trulia.com/property/3259...tioch-TN-37013

https://www.trulia.com/property/3260...-37086#photo-1

I just don't see how people afford housing prices in core Nashville neighborhoods on the wages available. Back in 2013, I was making under $12/hr in my hometown in northeast TN and wanted to go to Nashville. I was doing good to get interviews for positions paying $35-$40k. Granted, I've gained a lot of skills since then and could probably make more there now, but the cost of living is just skyrocketing.
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Old 03-08-2017, 07:16 AM
 
Location: Tennessee
23,592 posts, read 17,582,380 times
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Quote:
Originally Posted by PerseusVeil View Post
If this article is to be believed, the median salary for all employees in the state of California is $35,000. That puts California on par with Iowa, Kansas, Ohio, and Wisconsin. For Millennials the median salary is only $21,900.
Millennial median wage map - Business Insider

Additionally, looking at the Los Angeles area specifically, median Millennial salaries are on par with salaries in cities like St. Louis and Cleveland:
https://www.bloomberg.com/graphics/2...ity/table.html

It's a rough time out in many expensive metro areas for young people.
Keep in mind that CA is huge with a more diverse population than probably anywhere else in the country outside of NYC. There are millions of illegals and poorly skilled immigrants in CA who are either in the underground economy making unreported income, are making very low wages, or on the dole and completely out of the labor force.

If you are college educated in an even somewhat decent field in most of CA, you are going to be far above those salaries.

The extremely expensive, prestigious metros are basically places for the top 5%-10% of income earners, and the very poor who are often subsidized to remain there. The vast majority of folks would be better off leaving places like SF, NYC, etc., for opportunities elsewhere.

I actually lived in Iowa for a year in 2012 and lived in Indianapolis for three years and came back to TN late last year. The Midwest is generally going to be the best for cost of living/wage ratio. The cost of living is generally at least as low, if not lower, in most major Midwest metros (other than Chicago and perhaps Minneapolis) compared to the Southern boomtowns. Small towns and rural areas anywhere are going to struggle.
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Old 03-08-2017, 12:41 PM
 
1,830 posts, read 1,254,694 times
Reputation: 1823
Quote:
Originally Posted by Serious Conversation View Post
Keep in mind that CA is huge with a more diverse population than probably anywhere else in the country outside of NYC. There are millions of illegals and poorly skilled immigrants in CA who are either in the underground economy making unreported income, are making very low wages, or on the dole and completely out of the labor force.
Sounds comparable to all the other border states.
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Old 03-11-2017, 04:54 PM
 
Location: DFW
6,800 posts, read 11,777,391 times
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Most college towns fit this bill in the US..

If we're talking about outside of the US, I think most major cities in China are like this where housing costs about as much (in US dollars) as in Texas but people earn maybe 1/3 to 1/10 as much as Texas.
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