While a six-figure income has long been seen as a marker of success, in some cities it barely covers the cost of living.
A six-figure salary has long been seen as a marker of financial success. But with the ever-rising cost of living, $100,000 doesn't offer much by way of financial security in a number of big U.S. cities.
The place that offers the biggest bang for your buck? Memphis, Tennessee, where a six-figure earner would have the equivalent of $86,000 left after taxes. Tennessee has no personal income taxes, leaving the hypothetical worker with $74,500 after federal taxes. But Memphis' low cost of living makes that equivalent to take-home pay of $86,400 elsewhere around the U.S.
Texas was another major winner in SmartAsset's rankings, with seven of the top 10 cheapest cities in the calculation: El Paso, Corpus Christi, Lubbock, Houston, San Antonio, Fort Worth and Arlington.
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