All 31 Cities on This List Cost Less Than $50,000 to Live

GOBankingRates examined the living expenses in 270 of the largest U.S. cities to see where you can afford to live off less than $50,000

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Sep 07, 2017, 07:15 ET

LOS ANGELES, Sept. 7, 2017 /PRNewswire/ -- Four different Texas cities are affordable to people making less than $50,000 a year, and a city in California even made the list, according to a new living expenses study.

Personal finance website GOBankingRates looked at living expenses in 270 of the largest U.S. cities to see where you could get by on the average annual salary of $49,630 — or less. To calculate the income needed to live comfortably in each city, GOBankingRates used the 50-30-20 budgeting rule, in which 50 percent of income covers necessities, 30 percent covers discretionary items and 20 percent is for savings.

For full study results and more details on methodology, visit: 31 Cities Where You Can Afford to Live Off Less Than $50,000.

Top 5 Cities That Require the Lowest Salaries to Live

5. Detroit, Mich.

Total needed: $44,080

4. Albuquerque, N.M.

Total needed: $43,573

3. Lubbock, Texas

Total needed: $43,201

2. Springfield, Mo.

Total needed: $40,834

1. El Paso, Texas

Total needed: $40,204

Additional Study Insights

Despite California's high cost of living, at No. 8 on the list, Fresno is one of the more affordable places to live. The total income needed is $44,838.
Four cities in Texas appear on the list. Arizona, Indiana, Kentucky, Missouri, Montana, Nevada, Ohio and Oklahoma each have two cities where residents can live off less than $50,000.
The annual rent of every city on the list costs $10,000 or less.

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