How far will $100,000 take you in the U.S.? Here's where it's worth the most — and least. (2024)

FAQs

Where does a $100,000 salary go the furthest? ›

A six-figure income offers the most purchasing power in El Paso, Texas, the study found. In El Paso, a $100,000 salary amounts to around $88,840 after taking out those expenses. El Paso is in west Texas and sits along the U.S.-Mexico border.

Is $100K a good salary? In almost every case, yes. It's well above the poverty line as well as the American median income for both individuals and smaller families. Even in the face of rising inflation, a $100,000 annual income can typically afford a comfortable lifestyle and financial stability.

“Based on my extensive experience in Florida's real estate market, Tampa, Orlando, and Jacksonville stand out as cities where a $100,000 income goes a long way,” said Ed Brancheau, founder of SunnyNest Homes. “These cities exemplify how residents can enjoy a high quality of life without breaking the bank.”

It has the greatest purchasing power in cities throughout the South and into the Midwest. Alternatively, $100,000 had the lowest purchasing power in cities in the West and Northeast. An annual salary of $100,000 is worth the most in El Paso, Texas, SmartAsset determined.

If you make $100,000 a year living in the region of California, USA, you will be taxed $29,959. That means that your net pay will be $70,041 per year, or $5,837 per month.

“With a nest egg of $100,000, that would only cover two years of expenses without considering any additional income sources like Social Security,” Ross explained. “So, while it's not impossible, it would likely require a very frugal lifestyle and additional income streams to be comfortable.”

A six-figure salary is a goal for a lot of workers. But $100,000 is no longer enough to feel financially secure in many parts of the U.S.

A $100,000 salary may be considered middle-income in many parts of the U.S., but it's no longer a ticket to the middle class.

You'll need to earn more than half a million annually to be considered among the highest earning residents in 11 states and Washington, D.C. "This comes down to cost of living," Murray said.

While ZipRecruiter is seeing salaries as high as $59,254 and as low as $36,121, the majority of salaries within the $20 An Hour jobs category currently range between $46,700 (25th percentile) to $56,800 (75th percentile) with top earners (90th percentile) making $59,254 annually in Florida.

How many people in the U.S. have 100K saved? ›

14% of Americans Have $100,000 Saved for Retirement

Most Americans are not saving enough for retirement. According to the survey, only 14% of Americans have $100,000 or more saved in their retirement accounts. In fact, about 78% of Americans have $50,000 or less saved for retirement.

Seattle, WA: $48,959 take-home pay

This study comes as inflation continues to push the cost of living higher. According to a recent survey, 51% of people who earned more than $100,000 reported living paycheck to paycheck in 2022 – 7% higher than a year earlier.

According to the report, after income taxes, the net pay of someone making $100,000 in Boston is $73,529. Add annual rent at $37,486, $6,353 in groceries, $5,247 in health care costs, $5,313 for utilities, $10,980 in annual transportation costs and $1,522 for miscellaneous costs and there just isn't much left over.

In 2022, Switzerland had the highest average monthly net salary in the world, at $6142 USD after tax, followed by Singapore and Australia. Other countries with high average salaries after tax include the United States, United Arab Emirates, Norway, and Canada.