Here’s How Much a $100,000 Salary Is Actually Worth in NYC

Sick of talking about inflation? We don’t blame you. Truth hurts.

And a new study conducted by New York City-based financial technology firm SmartAsset shows just how much.

The company looked at 76 of the largest cities in the United States to determine what a $100,000 salary is actually worth after taxes. It adjusted those figures based on the after-tax amount and cost of living in each of them.

The findings may be even more staggering than you thought. According to SmartAsset’s data, a $100,000 annual salary in New York City amounts to only $35,791 when those factors are considered.

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Ouch. That figure is good for dead last in the SmartAsset study. It can’t even buy you a Tesla. And it can barely buy you half a year of college at Columbia University, based on those tuition numbers.

Of all 76 cities assessed, $100,000 has the least stretch in New York City. Rounding out the bottom five: Honolulu, Hawaii ($36,026); San Francisco, California ($36,445); Washington, D.C. ($44,307); and Long Beach and Los Angeles, California, which tie at $44,623.

In other words, $100,000 ain’t what it used to be — and 51% of people who made more than that in December reported living paycheck to paycheck, a recent PYMNTS and LendingClub survey cited by SmartAsset found.

Check the numbers in your city using SmartAsset’s interactive map below.

Curious about New Jersey and Connecticut? Or elsewhere in New York?

Newark, New Jersey, comes in 63rd on SmartAsset’s list. There, a $100,000 a year gig is worth about $57,082 when living costs and taxes are taken into account. That same six-figure salary is good for about $72,840 in Buffalo (ranked No. 31 overall). Connecticut didn’t have a city represented in the study.

Want better news? Move. Seven of the 10 cities in SmartAsset’s study that saw $100,000 go the farthest are in Texas, though Oklahoma City wins for lowest cost of living. Use the searchable table below and get more from SmartAsset.