I think this article is interesting because owning real estate in the Bay Area is not just about the mortgage, it's about the costs of everything around the real estate as well. Schools, shopping, events, nearby vacation options...and all of the things add to the actual 'life cost'. ~ Alicia
You probably know someone with a tech job in San Francisco or an advertising gig in New York. She eats at world-class restaurants, travels to foreign countries on business and boasts a LinkedIn profile sparkling with brand names and blockbuster deals. But what gets under your skin most is her salary, which rumors peg more than 50 percent higher than yours.
It’s enough to make any American envious — until you factor in the cost of living.
When adjusted for housing, food, transportation, childcare, and other necessities, that six-figure paycheck leaves little leftover. And just because your friend dines at Eleven Madison Park for once-per-year business dinners doesn’t mean she can afford a single entrée on her own dime.
At CareerTrends, part of the Graphiq network, we turned to the Economic Policy Institute to rank the 50 metros with the highest cost of living. A metro, or metropolitan statistical area, is defined by the White House’s Office of Management and Budget. Put simply, a “metro” must have a core central area with more than 50,000 people, as well as social and economic integration with nearby areas, measured by commuting ties.
Read the entire article here.