By Andrew DePietro | FORBES
As cost of living rises across most of the country, the number of affordable major cities is declining. Wage increases haven’t kept pace with living expenses, further aggravating this trend. According to the Census Bureau, the median household income in the US is $57,617. Unfortunately, Americans spend an average of $57,311 per year, according to the annual Consumer Expenditure Survey. That leaves very little left over if you’re earning the median income.
On top of that, expenditures in major cities tend to be higher than average expenditures on a national level. In the vast majority of American cities, the median income is not nearly enough to cover costs, making the cost of living squeeze even worse.
