The Best Places to Live on $50,000 a Year
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Earn just $50,000 a year? You're far from alone. The U.S. Census Bureau reported that the median household income in the United States stood at $69,717 in 2021, the latest year for which numbers are available. This means that half of the households in the United States earned more than this amount while half earned less. It also means that plenty of others earn $50,000 or less in the country.
At the same time, the costs of living in a big city have been rising. Zumper reported that the median monthly rent for a one-bedroom apartment in New York City was $3,550 in February of 2023, while this figure was $3,000 for San Francisco and $2,990 for Boston.
You might think you can't afford rent or a home in a major city if your yearly salary hovers at the $50,000 mark. But you'd be wrong.
Not every city is as expensive as New York or San Francisco. There are several bigger metropolises in which your salary can stretch farther than you might expect. And these more affordable cities provide plenty of culture, entertainment, nightlife and amenities.
Here are some of the best places to live on $50,000 a year.
In this article
Top cities in which your money goes the furthest
You’ll need to spend less each year to earn a $50,000 or less salary. Fortunately, plenty of cities across the United States have a low cost of living.
GOBankingRates in 2023 compared the living expenses in 150 of the largest cities in the United States to find the 35 metropolitan areas with the lowest cost of living. To compute the cost of necessities in these cities, GOBankingRates considered how expensive rent, groceries, utilities, transportation and healthcare were in these cities. The site then doubled the cost of these necessities to determine how large of an income people needed to cover them.
Here are the 10 cities in which necessities cost the lowest, according to GOBankingRates:
City | Annual cost of living | Annual income needed to cover cost of living |
|---|---|---|
Akron, Ohio | $21,631.90 | $43,263.79 |
Cleveland, Ohio | $21,710.15 | $43,420.29 |
Toledo, Ohio | $22,308.57 | $44,617.14 |
Shreveport, Louisiana | $24,373.68 | $48,747.35 |
Birmingham, Alabama | $24,439.12 | $48,878.25 |
Brownsville, Texas | $24,678.68 | $49,357.37 |
Columbus, Georgia | $25,117.72 | $50,235.43 |
Memphis, Tennessee | $25,241.81 | $50,483.63 |
Montgomery, Alabama | $25,371.99 | $50,745.98 |
Amarillo, Texas | $25,694.05 | $51,388.10 |
The top cities for comfortable living
U.S. News & World Report recently ranked the best U.S. cities in which to live in 2022 and 2023. The site considered the cost of living, crime rates, quality of public education and job market in ranking these cities.
We looked at that list and pulled out the cities in which the average salary was about $50,000, give or take $2,000 or so. Here are the cities from U.S. News & World Report’s list that meet that criteria.
City | Average Annual Salary |
|---|---|
Green Bay, Wisconsin | $50,020 |
Fayetteville, Arkansas | $50,470 |
Sarasota, Florida | $48,180 |
Naples, Florida | $50,040 |
Boise, Idaho | $49,010 |
Grand Rapids, Michigan | $49,700 |
Melbourne, Florida | $51,740 |
Salt Lake City | $52,094 |
Jacksonville | $49,940 |
Nashville | $52,170 |
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Best small cities for jobs
You’ll need to work once you move to a new city. Fortunately, there are plenty of smaller, more affordable cities across the United States that offer plenty of jobs.
CareerBuilder ranked the top small- to mid-sized U.S. cities with the most job opportunities. Here are the 10 cities that made that list:
City | Jobs per 1,000 people |
|---|---|
Bellevue, Washington | 151 |
Tempe, Arizona | 129 |
Salt Lake City | 119 |
Sioux Falls, South Dakota | 89 |
Springfield, Missouri | 83 |
Akron, Ohio | 82 |
Knoxville, Tennessee | 78 |
Grand Rapids, Michigan | 75 |
Fort Collins, Colorado | 67 |
Peoria, Arizona | 64 |
The best of the best?
So, which of these cities rank as the best for those making $50,000 a year? That’s not an easy question to answer: None of the cities listed above appeared on all three of our lists: the cities in which your money goes the furthest, top cities for comfortable living and best small- to mid-sized cities for job growth.
But some cities appeared on two of the lists. That propelled them to our list of the best cities in which you can comfortably live on an annual salary of $50,000.
But what about the other cities that we rank as the best of best? Each of them appeared in at least one of our three lists above. And we made sure that each of them also ranked on at least one outside list of the best affordable cities in the country.
Here, then, is our list of the U.S. cities you should explore if you are earning no more than $50,000 a year.
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Grand Rapids, Michigan
With a population of more than 1 million, Grand Rapids, Michigan, is no small town. This means that you can enjoy museums -- including one with a working carousel inside -- sprawling public parks, an eclectic mix of restaurants and every shop you can imagine. Then there's the city's brewpub scene. Grand Rapids has earned a reputation across the Midwest for its home-brewing culture, and the always growing number of brewpubs popping up in its business districts is testament to this.
And if you like nature? The shoreline of Lake Michigan is less than an hour's drive from downtown Grand Rapids.
It's little wonder, then, that U.S. News & World Report recently named Grand Rapids as the 16th-best city in which to live in the United States.
Grand Rapids also showed up on two of our lists: boasting a high number of jobs per 1,000 people and earning a spot on our list of the top cities for comfortable living at a salary of up to $50,000.
Affordability is a big selling point of Grand Rapids. According to real estate firm Redfin, the median sales price of a home in Grand Rapids stood at $240,500 in January of this year. This means that half of the homes in the Grand Rapids market sold for more than this figure and half less.
That median value is significantly lower than the median existing-home price across the country: The National Association of REALTORS® reported that the median sales price of homes across the United States stood at $359,000 in January.
There's plenty to do, too, with the money you'll save. You can visit the Frederik Meijer Gardens and Sculpture Park, which showcases a variety of flowers and outdoor art along winding paths. The five-story Lena Meijer Conservatory building in the park features exotic plants from across the globe.
The John Ball Zoo houses animals from across the world. Visitors can interact with many of the animals here, including feeding bears, penguins and monkeys. Architecture buffs will want to visit the Meyer May House, which was designed by Frank Lloyd Wright and built in 1908. Families can take advantage of the Grand Rapids Children Museum, known for its Little Grand Rapids area, where kids can visit a miniature city with a bank, grocery store, doctor's office and auto repair shop.
And one more highlight? The Grand Rapids Public Museum. The star attraction here is a working carousel that dates to 1928.
Akron, Ohio
You might not think of Akron, Ohio, when considering the best affordable cities in the United States. After all, this city about 40 miles south of Cleveland is overshadowed by other big cities in its own state such as Cincinnati, Cleveland and Columbus.
But don’t overlook Akron. It earned spots on two of our lists, too, ranking sixth among our list of the best small- and mid-sized cities for jobs and ranking first on our list of the cities in which your dollars will stretch the furthest. You'll only need to earn slightly more than $43,000 a year to afford Akron's annual cost of living of $21,631.90, according to GOBankingRates.
Not only is Akron affordable, there's plenty to do, too, which shouldn't be surprising considering that the city has a fairly large population of more than 190,000 people. This makes it the fifth-largest city in Ohio.
If you like history, you can tour the Stan Hywet Hall and Gardens, a 65-room Tudor-style mansion that offers public tours. Downtown Akron's Lock 3 public park is home to concerts, events, food trucks and activities such as ice skating and ice bumper cars. The Akron Art Museum boasts more than 7,000 paintings, sculptures and other creations by artists across the globe.
Akron is a good choice if you are looking for a diverse population, too. According to Retirepedia, the city's population is 57.9% white, 30.1% African American and 4.2% Asian. Retirepedia gives Akron a high diversity score of 70 out of 100.
This doesn’t mean that Akron is perfect. The city has suffered through tough economic times, as have many industrial-centered Midwest cities, and that has led to a higher crime rate in some Akron neighborhoods. Still, if you are looking for an affordable city with plenty to do, Akron is a good choice.
And back to history: Akron is probably best known as the home to the Goodyear Tire and Rubber Company. Goodyear got its start here in 1910, and the company still employes about 3,000 workers in the area. Alcoholics Anonymous also got its start in Akron.
Salt Lake City, Utah
With a population of more than 200,000, Salt Lake City is one of the bigger metropolises on our list. But despite its size, Salt Lake City is surprisingly affordable. The average annual salary here is about $52,000, according to U.S. News & World Report. And that salary is enough for someone to live comfortably in this slice of Utah.
U.S News & World Report last year named Salt Lake City the 23rd best place to live in the United States. Why? U.S. News pointed to what it calls one of the "country's best backyards." Salt Lake City is located within driving distance of five national parks. Then there's the skiing: If you like the slopes, you'll be within a short drive of some of the best courses in the country.
If you're a fan of the Olympics you can visit, and use, some of the venues left from the 2002 Winter Olympics that were held in Salt Lake City. Highlights include a bobsled track and biathlon course that are still being used today.
Salt Lake City is home, too, to the Utah Museum of Fine Arts, the world-class Hogle Zoo, more than 900 acres of public parks and a wide variety of restaurants and shops.
The city is also the U.S. headquarters of The Church of Jesus Christ of Latter-Day Saints. Even if you're not a member of this church, you can enjoy the performances put on by the famed Tabernacle Choir in the church's Temple Square.
Shreveport, Louisiana
If you prefer a warmer climate, consider Shreveport, Louisiana. This city of more than 180,000 in northwest Louisiana boasts mild weather, with the temperature rarely dipping below 40 degrees. And in the summer, temperatures routinely break the 90-degree mark, so Shreveport is a good place if you like balmier temps.
This is an affordable community, too. According to Realtor.com, the median listing price of a home in the Shreveport market stood at $189,300 in January.
But what can you do in Shreveport? Turns out, plenty. If you are a fan of craft beers, Shreveport is your city. You can take brewery tours here and sample many local homegrown beers in the city's many brewpubs. You'll need to eat, too, and Shreveport is home to award-winning restaurants serving some of the state's best southern food.
If you're a history buff, be sure to check out the Southern University Museum of Art. This is the only museum in the northern part of Louisiana dedicated to showcasing the art of the African and African American Diaspora. The museum's permanent collection features work from several West African countries. Fans of art can visit the R.W. Norton Art Gallery and Botanic Gardens, which features a sprawling collection of rare books, art, sculptures and, of course, plants.
If you're ready to party, Shreveport features a long list of festivals, including the famous Mudbug Madness Festival, which celebrates Louisiana's passion for crawfish. The CORK Wine Festival celebrates a different kind of taste, showcasing wines from around the globe.
Birmingham, Alabama
Boasting a population of more than 197,000, Birmingham, Alabama, is one of the most affordable major cities in the United States. According to GOBankingRates, you’ll need an annual salary of about $48,800 to cover your living expenses in Birmingham.
Part of the reason for this is that real estate is affordable here. Realtor.com said the median home listing in Birmingham was $159,700 in January, far lower than the median home sales price in the United States. RentCafe says that the average monthly apartment rent in Birmingham is $1,280.
What are the other pros of living in Birmingham? If you're a foodie, you'll be in luck. This southern city is famous for its high-quality restaurants serving everything from Thai food and French classics to meaty burgers, Southern specialties and amazing desserts. The Pizitz Food Hall is an especially popular spot. And like other cities on our list, craft beer is popular here, too. Birmingham is home to several highly regarded brewpubs serving craft beer from the local area and the rest of the country.
Then there are the cultural activities. The Birmingham Museum of Art boasts a large and eclectic collection while the Market at Pepper Place, held Saturday mornings, hosts farmers, artists and other creative types.
Birmingham's music scene is not to be overlooked, either. Catching a live performance at both small and large venues is easy. The city hosts outdoor concerts during warm months at its Railroad Park and Oak Mountain Amphitheatre.
Brownsville, Texas
Want stunning scenery? Consider a move to Brownsville, Texas. This city, with a population of more than 187,000, sits along the Rio Grande River and just a few miles west of the Gulf of Mexico. This means that there is plenty of natural beauty to enjoy here.
This starts with Boca Chica State Park, a white-sand beach just about 20 miles east of Brownsville. The park features swimming, surfing and birdwatching. You can also visit the Laguna Atascosa Wildlife Refuge, a 97,000-acre plot of land that is home to more than 410 species of birds and the endangered ocelot. You can walk the park on a variety of trails or see the sights by kayak or tram.
The Sabal Palm Sanctuary isn't to be missed, either. This 527-acre sanctuary is home to a variety of flora and animals, such as bobcats and endangered bird species.
This is also a good city for history buffs, starting with the Historic Brownsville Museum, which showcases the first battle of the Mexican-American War and the last battle of the Civil War, both of which took place in Brownsville. Brownsville's Old City Cemetery is another key spot for history buffs. The cemetery, which is a historic landmark, traces its history to 1853. Today, visitors can participate in educational programs and cultural events at the cemetery.
Best of all? You don’t need a huge salary to enjoy Brownsville. GoBankingRates says you can cover your living expenses in Brownsville with an annual salary of just $49,357.37.
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Writer
Dan Rafter is a freelance writer who has more than 20 years experience covering personal finance. He's written for the Chicago Tribune, Washington Post, Bankrate, CreditCards.com, Rocket Mortgage, NortonLifeLock and several others.
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