With living costs continuing to rise, some cities are making it easier for families to keep up. Using data from the U.S. Census Bureau 1-Year American Community Survey, SmartAsset recently looked at how household incomes are changing.
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In some places, families are seeing bigger paychecks which means more breathing room in the budget, even if housing and other expenses are still climbing. Here’s a look at where family incomes are growing the fastest.
Albuquerque, New Mexico
- Family income change: +30.42%
- Cost of living for a family of four without rent: $3,009 (Livingcost.org)
Though the overall increase in household income is just 5.28%, families here are seeing the highest income growth. Combined with a relatively low cost of living, it means stronger purchasing power and more financial stability.
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Fresno, California
- Family income change: +29.04%
- Cost of living: $2,769
A close second comes Fresno, which is also one of only three California cities (along with Long Beach and San Francisco) to see double digit growth in overall median income. More families are finding solid middle-class footing in this Central Valley hub.
San Francisco, California
- Family income change: +27.51%
- Cost of living: $4,036
Despite its cost of living being the highest on this list, San Francisco remains an income powerhouse, and is only one of three cities where median family income is more than $200,000.
Miami, Florida
- Family income change: +24.46%
- Cost of living: $3,556
Miami’s financial sector has been experiencing significant growth, with the city being recognized as the “Wall Street of the South.” So while the cost of living there is high, there are more employment opportunities and higher wages in the finance industry.
El Paso, Texas
- Family income change: +21.07%
- Cost of living: $2,373
El Paso’s lower cost of living makes that extra income go further for families building long-term security. Not every demographic is as lucky here, however, with household incomes for seniors actually dropping 9.93%.
Arlington, Texas
- Family income change: +17.85%
- Cost of living: $2,723
This Texas city’s booming housing market and proximity to major employers add to the income momentum, and seniors do even better here. Their median household income reported an increase of 19.1%.
Long Beach, California
- Family income change: +16.65%
- Cost of living: $3,215
As well as being in the top ten for family household income growth, Long Beach is second in the overall list, with an 11.90% increase in median household income.
Portland, Oregon
- Family income change: +15.80%
- Cost of living: $3,610
Portland’s evolving job market is fueling solid wage growth. While affordability remains a concern, family incomes are definitely looking up.
Memphis, Tennessee
- Family income change: +15.08%
- Cost of living: $2,838
As well as increased household incomes in Memphis, the city’s central location makes commuting and regional job opportunities easier, helping families stretch their earnings even further.
Tucson, Arizona
- Family income change: +15.03%
- Cost of living: $2,581
Industries including defense and aerospace are driving Tucson’s income growth, meaning families can benefit from both higher wages and more jobs in the local area.
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This article originally appeared on GOBankingRates.com: 10 Cities Where Families’ Household Income Has Grown the Most
