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By 
March 22, 2023 at 12:02 PM
A six-figure salary has long been considered a sign of success and financial comfort. That may be less true these days, according to a new report from SmartAsset, as inflation continues to cut into the purchasing power of money and push up the cost of living.
The report noted that 51% of people who earn more than $100,000 reported living paycheck to paycheck in December, up 7% from a year earlier, according to a survey from PYMNTS and LendingClub.
To find out how much $100,000 is actually worth in different parts of the country, SmartAsset compared the after-tax income in 76 large U.S. cities and then adjusted those figures for the cost of living in each one.
Researchers used SmartAsset’s paycheck calculator to apply income taxes and FICA to an annual salary of $100,000. They then adjusted the remaining amount for the local cost of living in each city, using third-quarter 2022 data from the Council for Community and Economic Research.
See the gallery for the 15 U.S. cities where $100,000 goes furthest. The tax data point is similar for several cities where there are only federal income taxes, and no state and local taxes. The after-tax take-home pay also includes a 7.65% deduction for FICA and state insurance taxes.
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