Difference Between What You Make and How far It Goes in Houston and Four Other Cities
It's called real personal income. You might make more than the median yearly salary here, which is $31,265, but how much bang for your buck are you really getting?
Photo by At.morey.tota Your money's not worth what you think it is.
Here's a look (via Planet Money's breakdown of Bureau of Economic Analysis Data) at the real value of median income in five cities.
5) Hot Springs, AR
If you make $25,020 it's real value is $27,771. This must be the only place in American where the median salary is worth more, but we're still not ready to move here.
4) Los Angeles
For the folks making the median, just $29,914, they only get about $23,929 out of it. We can't imagine how life in LA is possible at this price.