According to a study by SmartAsset, Memphis, Tennessee, tops the list of cities where a $100,000 salary has the most value. The study analyzed after-tax income in 76 major U.S. cities, adjusting for cost of living. In Memphis, a $100,000 salary is worth $86,444 after tax and cost of living adjustments, due to the city's cost of living being 14% lower than the national average.
The study also found that seven of the top 10 cities are in Texas. This is due to the lack of state income tax and low cost of living. In these Texas cities, a $100,000 salary is worth an average of $77,885 after adjustments.
Oklahoma City, Oklahoma, has the lowest cost of living among the studied cities. Here, a $100,000 salary is worth $84,498 after cost of living adjustments.
In contrast, New York City ranked last. A $100,000 salary in New York City is worth only $35,791 after adjustments, due to high taxes and cost of living.
The study underscores how location affects salary value. A six-figure salary may indicate success, but its value can differ greatly based on location. This is especially relevant today, as inflation increases the cost of living and decreases money's purchasing power.
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