Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I’d guess in Boston’s case it’s the high number of students that drags down their income numbers.
I don't think so, what 2 earner families are college students? Also Boston's Poverty rate adjusted without College students and the Child poverty rate isn't very good. The families don't earn much and the question is why?
Its also got far fewer degree holders than DC or Seattle. by 10%+
young professionals, high portion of single household owners, lot more one bedroom and studio apts, more colleges and university students (Boston) and postgrads moving for a job (All three).
And at least for LA and NYC area, loooots of EJ communities and underserved communities. Not a high portion of white-collar jobs for the population, especially for LA.
but we're talking about 2 income families. Not college students, people in studios ...
I mean even State College PA has a higher median family income han Boston ~92k vs 108k. The average 2-income family in Seattle earns $165k...
You could also base it off mean income by education level. This is for 30-year old men in Metro Atlanta.
Professional degree and beyond - $101,296
Master's degree - $91,861
Bachelor's degree - $84,264
Associate's degree - $40,947
1 or more years of college - $39,820
Some college, but less than 1 yr - $34,267
GED or alternative credential - $29,838
HS diploma - $38,260
You could also base it off mean income by education level. This is for 30-year old men in Metro Atlanta.
Professional degree and beyond - $101,296
Master's degree - $91,861 Bachelor's degree - $84,264
Associate's degree - $40,947
1 or more years of college - $39,820
Some college, but less than 1 yr - $34,267
GED or alternative credential - $29,838
HS diploma - $38,260
Bolded seems very high. It would seem strange that a Master's only nets you $7500 more dollars. But going from associatez or some college to a Bachelors would double your income...?
Bolded seems very high. It would seem strange that a Master's only nets you $7500 more dollars. But going from associatez or some college to a Bachelors would double your income...?
Nationwide, it only nets you about 10K more. The gap between an associate's and a bachelor's nationwide is about 22K for the same age group.
Whats any of this got to do with 2 earner families not making as much as in Chicago or similarly expensive cities like DC or Seattle.
So few high earning families live in Boston. I really think it's that simple.
I can't speak to DC, but Seattle has loads of SFH residential areas popular for families. Chicago has even more. I mean, nearly the entire northwest side of Chicago is quiet, residential, SFH.
In Boston, most of the high earning families, single or dual income, don't live in the city. Right? They live in Cambridge, and Newton, and Brookline, and Belmont, and Arlington, and Milton. Places like Brighton, West Roxbury, Roslindale, JP have some... But, it's few and far between. There really just aren't a lot of SFH neighborhoods in general, relative to many other cities. And let's call it, that's what a lot of families want or get if they can afford to do so.
There's an interesting dynamic there that is probably 4 levels deeper. But it's the reason the median incomes higher/salaries are higher than most of the country, while the family incomes within the cities limits are not.
Most Populated Metros By Per Capita Personal Income 2021
San Francisco metro ---- $123,711
San Jose metro ---------- $136,338
Boston metro ------------ $92,290
Providence metro -------- $64,566
NYC metro --------------- $85,136
Washington DC metro --- $80,822
Baltimore metro --------- $70,490
Los Angeles metro ------ $75,821
Riverside metro --------- $50,384
Miami metro ------------ $73,522
Philadelphia metro ------ $72,379
Chicago metro ---------- $71,992
Dallas metro ------------ $66,727
Houston metro ---------- $64,837
Atlanta metro ----------- $63,219
Phoenix metro ---------- $58,308
Being able to max out 401K contribution every year.
At least 20% of after tax income going towards savings
Having at minimum a studio/1BR in a Class A building or large 1BR to 2BR in a Class B building.
At least one international trip and another 3-4 domestic trips of shorter duration per year.
Brunch, movies or dinner with friends at an upscale restaurant once per week. Alcohol included.
Concerts maybe twice per year.
I am close to this, but I am still uncomfortable. Most people are worse off than me.
Travel is very expensive. I can only afford to travel two or three times a year domestic and that's it, and usually only to see family rather than actually get to sight see. International? Forget about it. Unless the airlines are doing some ultimate mega discount out of ATL definitely cannot afford the roundtrip.
In order to achieve this very comfortably (1 bedroom by myself, international + short domestic trips, maxing out savings) I'd need to close to double my income pre-tax. Mostly because of the rent/mortgage criteria.
I am close to this, but I am still uncomfortable. Most people are worse off than me.
Travel is very expensive. I can only afford to travel two or three times a year domestic and that's it, and usually only to see family rather than actually get to sight see. International? Forget about it. Unless the airlines are doing some ultimate mega discount out of ATL definitely cannot afford the roundtrip.
In order to achieve this very comfortably (1 bedroom by myself, international + short domestic trips, maxing out savings) I'd need to close to double my income pre-tax. Mostly because of the rent/mortgage criteria.
I just used a paycheck calculator to see how "comfortably" someone could live in Dallas on 90K.
Net monthly pay after all federal and state taxes and pre-tax deductions (medical, vision, dental, life insurance, 401K max out) - $4,254
20% of net income going into savings/investments - $3,403
Gas for fully-owned older model vehicle ($200) - $853
Car insurance ($67) - $786
Groceries ($300) - $486
Not a whole lot left over for "fun." Need to either get a cheaper place in a less nice part of town, get roommates, or save less money. I wouldn't consider any of those "comfortable" options.
To say there is no such thing as difference in cost of living is absolutely absurd to me. I tend to find its mostly just people who live in big cities and are apologists for the city and style of life they love. Yes, you can find crazy expensive places to live in low COL cities but comparing a place like Highland Park in Dallas or Buckhead in Atlanta to all of the Bay or NYC is ridiculous. Youd need to measure how expensive it is to live in Buckhead vs. Tribeca or Presidio Heights. Comparing those neighborhoods to Flatbush or Oakland is a horribly bad argument.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
