$300,000 salary feels like $100,000 in New York, Honolulu, SF: survey

Americans living in New York, San Francisco, and Honolulu all need to earn in excess of $300,000 per year to have the purchasing power of $100,000 as persistent inflation drives up the cost of living, according to a new report.

The study found that New York, San Francisco and Honolulu have the highest cost of living at over 80% above the national average. Residents in those cities would have to earn over $300,000 to actually feel like they have $100,000 coming in annually. Meanwhile, at the other end of the spectrum, Memphis, El Paso, and Oklahoma — all cities with a cost of living below the national average — had the lowest earnings needed to have $100,000 of purchasing power.

Over half of Americans on high income salaries — above $100,000 — were living paycheck to paycheck in December as inflation outstripped wage growth,showed. Those same high-income earners were struggling to keep up with monthly bills.

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