10 ‘Second Cities’ Where Your Paycheck Goes Farther
Sure, nobody goes around boasting, “We’re Number Two!” But in certain circumstances, coming in second has its advantages. That’s particularly true for U.S. cities that don’t rank among the biggest in size or name recognition, but are usually cheaper – which means you get more mileage out of your paycheck.
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The term “Second City” was originally applied to Chicago. The popular reason cited is that for a long time, it was the second-biggest city in the country behind New York and not nearly as famous, though there are other theories as well.
Today, you’ll find “second city” references to numerous mid-tier cities that rank just below the top guns like New York, Los Angeles, Chicago, San Francisco, Boston, Miami, Seattle, Atlanta and Dallas.
Here are 10 “second cities” where your paycheck goes further, according to a recent analysis from Moving.com that looked at housing costs, cost of living and median income.
Austin, Texas
Median home price: $450,000
Median rent: $1,850 a month
Cost of living: The cost of living index score for Austin is 109, which is just nine percent higher than the national average.
Median income: The median household income is $60,939, which is 10 percent higher than the national average.
Top employers: Dell Technologies, St. David’s HealthCare, IBM, Apple, University of Texas-Austin.
Charlotte, North Carolina
Median home price: $315,000
Median rent: $1,640 a month
Cost of living: The cost of living index score for Charlotte is 101, which is only one percent higher than the national average.
Median income: The median household income is $55,599, which is one percent higher than the national average.
Top employers: Bank of America, Wells Fargo, Duke Energy, Microsoft, Kforce.
Columbus, Ohio
Median home price: $204,900
Median rent: $1,290 a month
Cost of living: The cost of living index score for Columbus is 90, which is 10 percent lower than the national average.
Median income: The median household income is $47,156, which is 15 percent lower than the national average.
Top employers: JPMorgan Chase, Nationwide, Honda, Cardinal Health, L Brands.
Denver, Colorado
Median home price: $489,000
Median rent: $2,090 a month
Cost of living: The cost of living index score for Denver is 114, which is just 14 percent higher than the national average.
Median income: The median household income is $56,258, which is two percent higher than the national average.
Top employers: Comcast Corporation, Land Title Guarantee Co., Panda Restaurant Group, Greystar.
Indianapolis, Indiana
Median home price: $184,990
Median rent: $1,090 a month
Cost of living: The cost of living index score for Indianapolis is 90, which is 10 percent lower than the national average.
Median income: The median household income is $43,101, which is 22 percent lower than the national average.
Top employers: ERMCO, Keller Williams Indy Metro, Charles Schwab, Anthem, Eli Lilly and Company.
Pittsburgh, Pennsylvania
Median home price: $229,900
Median rent: $1,550 a month
Cost of living: The cost of living index score for Pittsburgh is 91, which is nine percent lower than the national average.
Median income: The median household income is $42,450, which is 23 percent lower than the national average.
Top employers: PNC, PPG Industries, Kraft Heinz Co., United States Steel Corp., Arconic.
Raleigh, North Carolina
Median home price: $310,000
Median rent: $1,600 a month
Cost of living: The cost of living index score for Raleigh is 102, which is two percent higher than the national average.
Median income: The median household income is $58,641, which is six percent higher than the national average.
Top employers: Duke University and Health System, State of North Carolina, Walmart, WakeMed Health and Hospitals.
Sacramento, California
Median home price: $369,900
Median rent: $1,750 a month
Cost of living: The cost of living index score for Sacramento is 119, which is 19 percent higher than the national average.
Median income: The median household income is $52,071, which is six percent lower than the national average.
Top employers: Kaiser Permanente, Intel Corporation, Sutter Health, Aerojet Rocketdyne.
Salt Lake City, Utah
Median home price: $419,900
Median rent: $1,250 a month
Cost of living: The cost of living index score for Salt Lake City is 106, which is just six percent higher than the national average.
Median income: The median household income is $50,353, which is nine percent lower than the national average.
Top employers: Alsco, Intermountain Healthcare, Smith’s Food and Drug, SkyWest, University of Utah
Tampa, Florida
Median home price: $294,890
Median rent: $1,650 a month
Cost of living: The cost of living index score for Tampa is 97, which is three percent lower than the national average.
Median income: The median household income is $45,874, which is 17 percent lower than the national average.
Top employers: Tech Data, Publix Super Markets, Jabil, WellCare Health Plans, BayCare Health Care Systems, Verizon.
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This article originally appeared on GOBankingRates.com: 10 ‘Second Cities’ Where Your Paycheck Goes Farther
