You should be able to live pretty darn comfortably on a $75,000/year salary, right? Wrong. Depending on where you live, and how much that salary gets taxed, that $75,000 salary can vary drastically.
Over at Business Insider, they’ve calculated how much your per-paycheck take-home pay is on a $75,000 salary, and it’s pretty remarkable to see how much that salary changes throughout the nation. Below, I’ve included the take-home pay of each paycheck (assuming you get paid 2x a month on the 1st and 16th) in America’s most popular cities. You can see a breakdown of how much each paycheck is taxed by following that link above to BI:
— In these 4 cities you’ll take home $2,347 after taxes ($3,125 before taxes): Dallas, Texas, Miami, Florida, Nashville, Tennessee, Seattle, Washington
— Chicago, Illinois: $2,233 after taxes
— Denver, Colorado: $2,216 after taxes
— Boston, Massachusetts: $2,210 after taxes
— San Francisco, California: $2,165 after taxes
— Los Angeles, California: $2,165 after taxes
— Washington D.C.: $2,154 after taxes
— New York, New York (NYC): $2,079 after taxes
This has me wondering why the shit I ever moved to NYC after college. I only moved to NYC over SF because I lost a coin flip. In hindsight, I think I should’ve moved to SF if it would’ve been more or less just as expensive.
If you want to see how those $75,000 salaries get taxed over the course of a year, aka how much the total take-home pay of each $75,000 salary in each city is, you can CLICK HERE to head over to Business Insider.