This is from a study based on the 50-30-20 rule (for after tax income, 50% on necessities, 30% discretionary, 20% debt/savings). The study, looking at the 50 most populous cities, is here. We’ll save you some clicks – Detroit is #33 and if you click #51, it’ll pull up the whole list.
They looked at expenses like rent, groceries, utilities, transportation, etc. to determine the living comfortably numbers.
Unfortunately, the median household income in Detroit is $26,095, creating a gap of $16,677.
In comparison to some of the other cities listed, San Francisco residents needed $119,570 to live comfortably, while the median income there is $78,378. Miami residents need about $77,000 to live comfortably, while the median income there is just under $31,000.
Is anyone actually living comfortably? Yes. Virginia Beach residents need about $51,000, while the median household income is $67,000.
Don’t worry Curbed Detroit fans. We’re sure the haters will tell us what it’s like to live uncomfortably in Detroit.
Source: http://detroit.curbed.com/2016/4/20/11471884/income-detroit-live-comfortably
