A study found that a $100,000 annual salary is worth just $35,000 in New York City.
Due to high inflation, the six-figure salary is being increasingly sapped of its value due to purchasing power declines and cost of living increases. A study from personal finance adviser SmartAsset, measuring 76 different cities in the United States, found that the effect is felt in every city. Even the place where the salary goes the furthest — Memphis, Tennessee — it’s only worth $86,444. The worst was New York City, where the salary is worth approximately $35,791 when taking into account taxes and the cost of living.
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Oklahoma City, Oklahoma, was found to have the lowest cost of living in the study, although taxes sent it to third place, with $100,000 worth $84,498.
Notably, seven of the top 10 cities where $100,000 goes the furthest were in Texas, specifically El Paso, Corpus Christi, Lubbock, Houston, San Antonio, Fort Worth, and Arlington.
On the opposite end, the worst were New York City; Honolulu, Hawaii; San Francisco, California; Washing …