10 cities in the US where you can make 6 figures and still feel broke

Washington d.cWorawat Dechatiwong/ShutterstockIn Washington DC, a family that takes home $US100,000 a year still has to spend more money than they earn in a month.

  • A $US100,000 salary sounds like enough money to afford a comfortable lifestyle, but that depends on where you live.
  • MagnifyMoney recently found the top 10 most expensive metro areas where a family of three can still be financially strapped on a six-figure salary.
  • Based on the study, six-figure earners in six metro areas spend more money than they earn every month.

Earning $US100,000 isn’t all it’s cracked up to be if you live in an expensive city.

In a recent study, MagnifyMoney found the top 10 metro areas where you can feel broke – even if you make six figures. They determined the monthly disposable income of a hypothetical family with one child in 100 metro areas by subtracting monthly expenses, savings, debt, and taxes from an $US8,333 monthly paycheck (equivalent to a $US100,000 yearly pre-tax salary).

Tax estimations were based on the couple filing jointly for 2018 with a standard federal deduction, earning a federal $US2,000 credit for the child. Debt was assumed to be $US222 – the median monthly student loan payment. Other debt, such as housing and auto, were calculated into monthly expenses, which were determined based on location from a range of sources.

Based on this analysis, six metro areas have to spend more than they earn in a month.

Below, see how far six figures will get you in the most expensive metro areas in the US, ranked from least expensive to most expensive.


10. New York, New York

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Monthly after-tax income: $US6,934

Estimated monthly expenses and debt: $US6,429

Remaining income: $US505


9. Hartford, Connecticut

Sean Pavone/Shutterstock

Monthly after-tax income: $US6,934

Estimated monthly expenses and debt: $US6,455

Remaining income: $US479


8. Honolulu, Hawaii

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Monthly after-tax income: $US6,805

Estimated monthly expenses and debt: $US6,665

Remaining income: $US140


7. Oxnard, California

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Monthly after-tax income: $US7,086

Estimated monthly expenses and debt: $US6,948

Remaining income: $US138


6. Boston, Massachusetts

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Monthly after-tax income: $US6,932

Estimated monthly expenses and debt: $US6,963

Remaining income: -$US31


5. Minneapolis, Minnesota

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Monthly after-tax income: $US6,785

Estimated monthly expenses and debt: $US6,838

Remaining income: -$US53


4. Bridgeport, Connecticut

LBSimms Photography/Shutterstock

Monthly after-tax income: $US7,035

Estimated monthly expenses and debt: $US7,133

Remaining income: -$US98


3. San Francisco, California

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Monthly after-tax income: $US7,086

Estimated monthly expenses and debt: $US7,246

Remaining income: -$US160


2. Washington, DC

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Monthly after-tax income: $US6,932

Estimated monthly expenses and debt: $US7,292

Remaining income: -$US360


1. San Jose, California

Sundry Photography/Shutterstock

Monthly after-tax income: $US7,087

Estimated monthly expenses and debt: $US7,541

Remaining income: –$US454

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