Atlanta Skyline as seen from Jackson Bridge, site of "Walking Dead" TV show, shows speeding cars to skyline. (Photo by: Joe Sohm/Visions of America/Universal Images Group via Getty Images)
ATLANTA - If your wallet’s been feeling lighter every time you leave an Atlanta grocery store or glance at your rent statement, you’re not imagining things — it is expensive to live comfortably here. But take heart, Atlantans: at least we’re not in California.
What they're saying:
A new GoBankingRates study ranked the 50 largest U.S. cities based on how much you need to earn to live "comfortably," using the popular 50/30/20 budget rule (that’s 50% for needs, 30% for wants, and 20% for savings — or, if you’re in Atlanta, 50% for rent, 30% for traffic therapy, and 20% for Waffle House runs).
According to the study, you need to make about $112,700 a year to live comfortably in metro Atlanta, putting us at No. 17 on the list. That’s based on average single-family home prices of about $450,000 and an average monthly mortgage of $2,521.
By comparison, the top of the list is practically Silicon Valley Monopoly money:
- San Jose, California – $264,946 needed
- San Francisco – $239,840 needed
- San Diego – $196,400 needed
And if you’re wondering where you could stretch your dollar a little further, the least expensive major city is Detroit, where a "comfortable" life can be had for about $65,733 a year — though you might want to pack a good winter coat and a sense of adventure.
Still, Atlanta’s doing okay in the livability department, scoring a 78 out of 100 in the study. So while it may take a six-figure income to enjoy those Beltline brunches and big concerts without stressing about bills, at least we can say this: we’ve got Southern charm, four seasons, and far fewer earthquakes than California.
And if you're curious about how some of the cities nearby ranked, Nashville came in at No. 18 ($110,783 needed); Memphis ranked No. 46 ($66,177); Jacksonville ranked No. 34 ($89,876) and Charlotte, North Carolina, came in at No. 26 ($103,365).