So let's say your annual salary is $100,000, no matter where you live, you'll pay Uncle Sam $17,262.50 per year in Federal Income Taxes, leaving you with $82,737.50 to pay state income taxes (if applicable), living expenses, and savings. Of the fifty major cities included in the study done by GoBankingRates.com, San Diego ranked 45th, putting us in the Top 5 most expensive cities to live in the United States.
Where does a $100,000 salary go the furthest? Memphis, TN - where you would actually have a surplus of $46,093 after taxes and living expenses.
Where does a $100,000 salary go least far? San Francisco, CA - where $100,000 isn't enough to live on. You would actually be short $2,734. a month.
Here's how a $100,000 salary is spent in San Diego:
Federal income taxes:
$17,262.50
Net pay after income taxes:
$72,305.44
Annual rent:
$32,700
Annual groceries:
$3,798
Annual utilities:
$1,600.56
Annual driving costs:
$13,927
Annual healthcare:
$7,203
Income leftover:
$13,077
Residents of these seven states don't pay state income tax, which definitely improves their net income: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
Residents of these five states don't pay sales tax: Alaska, Delaware, Oregon, Montana, and New Hampshire.
Here's how much income would be left (after taxes/expenses) for a person earning $100,000 annually in these major cities:
Memphis, TN
46,093
El Paso, TX
44,185
Detroit, MI
41,549
Cleveland, OH
41,537
Tulsa, OK
39,410
San Antonio, TX
39,350
Jacksonville, FL
39,233
Louisville, KY
39,184
Houston, TX
39,060
Las Vegas, NV
38,920
Dallas, TX
38,307
Tucson, AZ
38,058
Wichita, KS
37,768
Oklahoma City, OK
37,382
Philadelphia, PA
37,260
Fort Worth, TX
36,884
Albequerque, NM
36,485
Columbus, OH
36,480
Phoenix, AZ
36,323
Indianapolis, IN
36,146
Arlington, TX
36,043
Milwaukee, WI
35,956
Nashville, TN
35,851
Baltimore, MD
35,814
Mesa, AZ
35,795
Kansas City, MO
35,466
Charlotte, NC
32,878
Austin, TX
32,767
Omaha, NE
32,077
Chicago, IL
31,890
Miami, FL
31,751
Raleigh, NC
31,699
Colorado Springs, CO
31,393
Atlanta, GA
31,250
Virginia Beach, VA
30,085
Fresno, CA
30,018
Minneapolis, MN
27,449
Denver, CO
25,591
New York, NY
24,668
Sacramento, CA
24,282
Portland, OR
22,747
Seattle, WA
22,109
Boston, MA
17,311
Long Beach, CA
15,663
Washington, DC
13,904
San Diego, CA
13,077
Los Angeles, CA
9,689
Oakland, CA
8,448
San Jose, CA
1,800
San Francisco, CA
-2,734