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☆ Here's the median salary in the 25 biggest U.S. cities—see how you compare
  + stars: | 2024-07-11 | by ( Mike Winters | ) www.cnbc.com   time to read: +2 min
The median household income is over $100,000 in six cities, four of which are in California, according to a new analysis by GoBankingRates. In 2024, the median annual household income is estimated to be $78,171, according to data consulting firm Motio Research. In Detroit — which is ranked 30th in population size — the median income is $40,574. The wealthiest cities also tend to offer a high number of well-paying jobs in technology, finance, entertainment or health-care industries. Below are the median household incomes for the 25 most populous U.S. cities, ranked from highest to lowest.
Organizations: Seattle, Boston, Motio Research, Detroit Locations: California, San Francisco, Francisco, Jose , California, Washington, Diego, Oakland, Virginia Beach , Virginia, Austin , Texas, Portland , Oregon, U.S, New York
☆ The salary a family of 4 needs to get by in every U.S. state—it's more than $150,000 in the most expensive one
  + stars: | 2024-06-20 | by ( Mike Winters | ) www.cnbc.com   time to read: +2 min
A family of four needs to earn at least $106,903 a year to cover their necessities in most U.S. states, a recent SmartAsset study reveals. The findings are based on cost estimates for housing, child care, transportation, health care, taxes and other common expenses, as tracked by the MIT Living Wage calculator. That said, basic expenses for a family of four in all states exceeds what most U.S. households typically earn, which is estimated to be a median of $78,171, according to data consulting firm Motio Research. And about 1 in 5 parents say they've relied on a relative to help out with child care. Here's a look at the minimum amount a family of four would need to cover basic needs, including child care, in each state.
Persons: it's, they've Organizations: MIT, Motio, Census Locations: Massachusetts, Hawaii, Connecticut, York, California, Mississippi, Los Angeles, New York City, U.S
☆ Homes are more expensive than ever—here's how much prices have skyrocketed since 1965
  + stars: | 2024-05-13 | by ( Mike Winters | ) www.cnbc.com   time to read: +2 min
If homes seem more expensive than ever, it's because they are — even after adjusting for inflation. U.S. homebuyers are spending more than double to buy a home now than they were in 1965, when the median home price was $20,200, according to U.S. Census data. In 2024 dollars, that works out to roughly $202,215, which is less than half of the $420,800 that a home costs today, per U.S. Census data. With homes selling for a median price of $20,200, a median earner would spend just under three times their income on a home. In 2024, the median annual household income is estimated to be $78,171, according to data consulting firm Motio Research.
Persons: homebuyers Organizations: Motio Research, National Association of Realtors, CNBC Locations: U.S
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