Enjoying a nice, comfortable life in a major Californian city is now out of reach for most American families, according to new research. <\/p>\n
A family of four to live comfortably in San Francisco<\/a> needs an annual salary of $408,000, topping a new list of American cities.<\/p>\n San Jose, an hour south<\/a>, comes in second at $403,000. The Bay Area\u2019s Oakland<\/a> comes in third with an eye-watering $371,000 required to enjoy a comfortable life.<\/p>\n A graph showing the income needed for a family of four to live comfortably in U.S. cities. Visual Capitalist<\/p>\n The new list, published by SmartAsset<\/a>, ranks 56 major American cities by annual family income, measured by the MIT Living Wage Calculator<\/a>, which takes into account the cost of basic necessities like housing, food, utilities, transportation, and hobbies.<\/p>\n \t\t\t\t\t\t\tSign up for the California Morning Report newsletter\t\t\t\t\t\t<\/p>\n \n\t\t\t\t\t\t\tCalifornia’s top news, sports and entertainment delivered to your inbox every day.\t\t\t\t\t\t<\/p>\n \t\t\t\t\t\tThanks for signing up!\n\t\t\t\t<\/p>\n The measure follows the 50\/30\/20 rule, which breaks down budgeting where \u201c50% of your post-tax income goes to needs, 30% of your wants, and 20% gets set aside for the future.\u201d<\/p>\n In Southern California, Irvine in Orange County<\/a> is eighth in the nation, requiring a family salary of $327,000, while further south San Diego comes in 12th with $313,000.<\/p>\n The median household income for a family of four in America is just $124,990, meaning most would struggle to live in any major Californian metro.<\/p>\n A view of Irvine, which ranks eighth in the nation, requiring a family salary of $327,000. Getty Images<\/p>\n People sitting down on the hill of Alamo Square Park in San Francisco, California Getty Images<\/p>\n One of the main reasons for California cities dominating the list is due to a severe housing shortage, a high tax rate and strict state regulations.<\/p>\n A median single-family home price in the Golden State is $930,260 according to the California Association of Realtors<\/a>, which is the highest among U.S. states in America. The median price in the Bay Area was $1.45 million while San Francisco was at a staggering $2.2 million in May. <\/a><\/p>\n The state also leads the nation with a top marginal income tax rate of 13.3% for top earners.<\/p>\n While California cities dominate the top 20 list, places such as Boston, New York, and Washington, D.C. continue to rank among the most expensive areas in the country as well.<\/p>\n Download The California Post App, follow us on social, and subscribe to our newsletters <\/p>\n California Post News: Facebook<\/a>, Instagram<\/a>, TikTok<\/a>, X<\/a>, YouTube<\/a>, WhatsApp<\/a>, LinkedIn<\/a> \t\t\t\t\t\t
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