ATLANTA — Living expenses are just that - expensive.
A GoBankingRates study on the 50 largest cities in the United States shows how much you have to earn to afford living there comfortably.
The study focused on annual salaries compared to costs of living, such as the average price to buy a home, the average mortgage cost and other necessities.
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For Atlanta, GoBankingRates found to live comfortably, you need to earn about $112,700, putting it at No. 17 among the cities ranked.
The study compared the salary to single family home price averages, which are $450,085, and the average monthly mortgage, which is $2,521.
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Necessities for the cost of living were an average of $56,351 in Atlanta, per year.
Overall, Atlanta’s “livability” score from GoBankingRates was 78 on a scoring scale of 100.
GoBankingRates said it based it off the “50/30/20 finance rule,” where the necessities of the cost of living is doubled to determine the salary needed to afford living in large U.S. cities.
Among the 50 cities analyzed for the study, San Jose, California, was the most expensive, with a salary of $264,946 needed to live comfortably.
The least costly was Detroit, where a comfortable living can be attained with a salary of $65,733 per year.
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