It’s no secret that wage growth has been slow around the country. In fact, across the nation home prices have outpaced wage growth for some time. As debate rages on regarding minimum wage laws, there’s no question that your earnings are a big factor when it comes to cost of living. With that in mind, here are some states that pay more.
According to the Bureau of Economic Analysis, wages are going up for most Americans. On average, wages rose 3.1% across the country. Of course, not ever state was invited to the party.
Three states saw a drop in earnings in 2017: North Dakota, Alaska, and Iowa.
On the other hand, of the states that pay more, Idaho saw the largest increase.
Top States That Pay More
The largest percent increase was Idaho (3.5%). This is due in large part to increased manufacturing of durable goods within the state as well as relatively low cost of living including tax burdens.
Among the higher states were also:
- Washington State (5.2%)
- Arizona (4.8%)
- Utah (4.7%)
- Colorado (4.6%)
- Nevada (4.3%)
- California (4.2%)
- Oregon (3.9%)
- Georgia (3.8%)
- North Carolina (3.8%)
It’s important to remember that these are percent averages that apply to income from wages and salaries. Other sources of income were not factored into the above numbers.
Overall, the mid-west states saw the lowest percent-increase while the west coast, rocky mountain areas, and northwest saw the largest increase.
Of course, average percent wage growth is only one factor to consider where cost of living is concerned. It’s also important to remember that wages differ between states and cities as well. What a “good living wage” is in your current city might be drastically different in another one. A 3% increase in one state may go a lot further (or less) in another.
City vs City is a powerful cost of living calculator. If you’re considering moving to one of these states that pay more, City vs City can help determine if it’s worth your while. City vs City examines costs at the zip-code level for an accurate assessment of your cost of living expenses.
After-tax income, housing costs, transportation, state and local taxes, and more are factored into City vs City’s powerful and patent-pending technology. The result is a detailed look at your living costs.
Compare your current city with another city of your choosing. The app will show you a side by side comparison of costs so you can make an informed decision.
For more information, download the City vs City app today and start comparing!