The country’s 23 most populous cities were ranked according to how much younger workers struggle with student debt payments. As the school debt bubble grows, three cities emerged as the places where students struggle most.
Using data from 9,000 of its own borrowers, Credible compared the average income in 23 cities with the average monthly housing payments. They also factored in the average monthly student loan payment.
Cities Where Students Struggle Most
- San Jose, California
- Fort Worth, Texas
- Boston, Massachusetts
Cities Where Students Struggle Least
Even among the top cities, 27% of monthly income is still spent on housing expenses. This percentage doesn’t even take into account other expenses such as taxes, food, or transportation.
This does not paint a grand picture for the future of student debt. However, in some cases the answer may be to move to an area where the cost of living is more viable. While this may be drastic, thankfully there’s an app for that!
What To Do?
Those students could account for all those expenses and taxes if they’d use City Vs City. We are the only cost of living calculator that starts with your spending. From there, our app calculates your income taxes to arrive at gross income. We compare your true cost of living in your current city as well as another one you choose.
If you’re a struggling student or simply interested in moving to a new location: City vs City can help. Our powerful cost of living calculator incorporates patent-pending technology.
We go beyond the averages and median to examine the true cost of living in your city. Thinking of moving elsewhere? Our app will show you which city will work best for you!
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