The results of a recent annual survey ranked New York as the city with the 11th highest cost of living in the world, the only U.S. city to crack the top 25 and jumping five spots from the past two years, according to NBC News. It’s this increasingly burdensome financial state that causes many New Yorkers to relocate — whether they want to start saving or just plain can’t afford the skyrocketing rents and lifestyle anymore. But figuring out where to go next can be the hard part if you really want to make the most of your move. That’s where the idea for the Cost of Living Calculator came from. The handy tool from Pay Scale uses your salary, job title, current location, and the city where you’re considering a move to show the cost of living difference, as well as how much you’ll need to earn in the new location to maintain your current standard of living.
Not surprisingly, most other cities in the country have a significantly lower cost of living. In Los Angeles, for example, housing is 54 percent less.
To really put things in perspective, a marketing coordinator making $60,000 a year in New York would only need to make $36,434 in LA to maintain his or her lifestyle. In Chicago, it drops even more to $32,000.
Even in San Francisco, often thought to be more expensive than New York, the overall cost of living is 25 percent less.
Use the Cost of Living Calculator here >>
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