10 cities where you can make 6 figures and still feel broke

A $100,000 salary sounds like enough money to afford a comfortable lifestyle, but that depends on where you live. MagnifyMoney recently found the top 10 most expensive metro areas in the US where a family of three can still be financially strapped on a six-figure salary. Based on the study, six-figure earners in seven metro areas spend more money than they earn every month. Visit Business Insider's homepage for more stories. Earning $100,000 isn't all it's cracked up to be if you live in an expensive city.

In a recent study, MagnifyMoney found the top 10 metro areas where you can feel broke — even if you make six figures. They determined the monthly disposable income of a hypothetical family with one child in 100 metro areas by subtracting monthly expenses, savings, debt, and taxes from an $8,333 monthly paycheck (equivalent to a $100,000 yearly pre-tax salary).

Tax estimations were based on the couple filing jointly for 2019 with a standard federal deduction, earning a federal $2,000 credit for the child. Debt was assumed to be $393 — the average monthly student loan payment. Other debt, such as housing and auto, were calculated into monthly expenses, which were determined based on location from a range of sources.

Read more: How much money you have to earn to be considered rich in the biggest city in every state

Based on this analysis, seven metro areas have to spend more than they earn in a month. 

Below, see how far six figures will get you in the most expensive metro areas in the US, ranked from least expensive to most expensive. All numbers were rounded to the nearest dollar

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Cities where you can make 6 figures and still feel broke
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Cities where you can make 6 figures and still feel broke

10. Minneapolis, Minnesota

Monthly after-tax income: $7,497

Estimated monthly expenses and debt: $7,348

Remaining income: $149

9. Worcester, Massachusetts

Monthly after-tax income: $7,632

Estimated monthly expenses and debt: $7,518

Remaining income: $114

8. New York, New York

Monthly after-tax income: $7,646

Estimated monthly expenses and debt: $7,581

Remaining income: $65

7. Oxnard, California

Monthly after-tax income: $7,734

Estimated monthly expenses and debt: $7,930

Remaining income: -$196

6. Honolulu, Hawaii

Monthly after-tax income: $7,526

Estimated monthly expenses and debt: $7,733

Remaining income: -$207

5. Bridgeport, Connecticut

Monthly after-tax income: $7,725

Estimated monthly expenses and debt: $8,213

Remaining income: -$488

4. Boston, Massachusetts

Monthly after-tax income: $7,632

Estimated monthly expenses and debt: $8,142

Remaining income: -$510

3. San Francisco, California

Monthly after-tax income: $7,734

Estimated monthly expenses and debt: $8,365

Remaining income: -$631

2. Washington, DC

Monthly after-tax income: $7,663

Estimated monthly expenses and debt: $8,363

Remaining income: -$700

1. San Jose, California

Monthly after-tax income: $7,735

Estimated monthly expenses and debt: $8,781

Remaining income: -$1,046

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