NEW YORK (PIX11) –Middle-class New Yorkers are left with a shortfall after they cover annual New York City living costs, according to a new study from GOBankingRates.
The personal finance resource analyzed the 100 most populous cities in the U.S. to see where middle-class salaries went the furthest. In New York City, the median household income per year is $79,713.
That doesn’t cover the cost of living expenses in the Big Apple, according to the study. The annual cost of living, which includes rent, groceries, transit, and health care, is $91,888.
That would leave New Yorkers with a deficit of -$12,175.
More: Latest News from Around the Tri-State
Residents in Fort Worth, Texas, make a similar amount to New Yorkers – around $76,602, according to the study. But as the annual cost of living is $43,383, Fort Worth residents are left with more than $33,000 in savings.
To read the study, click here.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.
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