20 American cities where life is quickly getting more expensive for the middle class

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20 American cities where life is quickly getting more expensive for the middle class

san antonio texas

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Texas is getting more expensive.

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  • A big cost of living increase hit the middle class in some American cities.
  • To live comfortably, the average person should earn twice as much as their yearly expenses.
  • In these 20 cities, the income required to live comfortably increased at least 23% between 2017 and 2018.

Staying comfortable at home with a stable budget is challenging in cities where the cost of living increases faster than your pay check.

In its latest report, GOBankingRates found the US cities where cost of living is rising the fastest for the middle class. The list was determined by the average person's ability to "live comfortably," or abide by the 50-30-20 plan.

The 50-30-20 plan means spending 50% of your income on necessities like food and transportation, 30% on splurges like entertainment or bar hopping, and putting the remaining 20% toward savings or paying off debt. To successfully follow the 50-30-20 rule, a person would need to earn twice as much as their yearly expenses.

GOBankingRates compared the income amounts needed to live comfortably in 2017 and 2018 - based on costs including rent, groceries, utilities, transportation, and healthcare - to find the cities where cost of living increased the most for a person earning the median income.

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Southwest cities are seeing the biggest spike in living expenses. Four cities in Texas made the top 20, with cost of living rising more than 23% in the past year, largely thanks to an increase in housing and car costs.

Check out the top 20 cities in America where life is becoming more expensive for the middle class, ranked by the cost of living increase over the last year. We've included the income needed to cover necessities, splurges, and savings.

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20. Houston, Texas

20. Houston, Texas
Income needed to live comfortably in 2018: $69,405 Necessities (50%): $34,702.48 Splurges: (30%): $20,821 Savings (20%): $13,881 Increase from 2017: 23.45%

19. Detroit, Michigan

19. Detroit, Michigan
Income needed to live comfortably in 2018: $52,1oo Necessities (50%): $26,049.76 Splurges: (30%): $15,630 Savings (20%): $10,420 Increase from 2017: 23.57%
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18. Phoenix, Arizona

18. Phoenix, Arizona
Income needed to live comfortably in 2018: $65,816 Necessities (50%): $32,907.80 Splurges: (30%): $19,745 Savings (20%): $13,163 Increase from 2017: 23.69%

17. Indianapolis, Indiana

17. Indianapolis, Indiana
Income needed to live comfortably in 2018: $58,426 Necessities (50%): $29,213.24 Splurges: (30%): $17,528 Savings (20%): $11,685 Increase from 2017: 23.97%
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16. Denver, Colorado

16. Denver, Colorado
Income needed to live comfortably in 2018: $77,562 Necessities (50%): $38,781.16 Splurges: (30%): $23,269 Savings (20%): $15,512 Increase from 2017: 23.98%

15. El Paso, Texas

15. El Paso, Texas
Income needed to live comfortably in 2018: $50,150 Necessities (50%): $25,075.08 Splurges: (30%): $15,045 Savings (20%): $10,030 Increase from 2017: 24.15%
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14. Anaheim, California

14. Anaheim, California
Income needed to live comfortably in 2018: $86,721 Necessities (50%): $43,360.44 Splurges: (30%): $26,016 Savings (20%): $17,344 Increase from 2017: 25.24%

13. Jacksonville, Florida

13. Jacksonville, Florida
Income needed to live comfortably in 2018: $65,294 Necessities (50%): $32,647.04 Splurges: (30%): $19,588 Savings (20%): $13,059 Increase from 2017: 25.72%
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12. Albuquerque, New Mexico

12. Albuquerque, New Mexico
Income needed to live comfortably in 2018: $53,384 Necessities (50%): $26,692.20 Splurges: (30%): $16,015 Savings (20%): $10,677 Increase from 2017: 25.77%

11. Mesa, Arizona

11. Mesa, Arizona
Income needed to live comfortably in 2018: $61,638 Necessities (50%): $30,819.20 Splurges: (30%): $18,492 Savings (20%): $12,328 Increase from 2017: 25.81%
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10. San Antonio, Texas

10. San Antonio, Texas
Income needed to live comfortably in 2018: $58,504 Necessities (50%): $29,251.92 Splurges: (30%): $17,551 Savings (20%): $11,701 Increase from 2017: 26.76%

9. Wichita, Kansas

9. Wichita, Kansas
Income needed to live comfortably in 2018: $55,345 Necessities (50%): $27,672.36 Splurges: (30%): $16,603 Savings (20%): $11,069 Increase from 2017: 26.81%
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8. Sacramento, California

8. Sacramento, California
Income needed to live comfortably in 2018: $72,079 Necessities (50%): $36,039.28 Splurges: (30%): $21,624 Savings (20%): $14,416 Increase from 2017: 26.93%

7. Virginia Beach, Virginia

7. Virginia Beach, Virginia
Income needed to live comfortably in 2018: $67,568 Necessities (50%): $33,783.84 Splurges: (30%): $20,270 Savings (20%): $13,514 Increase from 2017: 28.34%
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6. Fort Worth, Texas

6. Fort Worth, Texas
Income needed to live comfortably in 2018: $68,636 Necessities (50%): $34,318.24 Splurges: (30%): $20,591 Savings (20%): $13,727 Increase from 2017: 29.44%

5. Arlington, Texas

5. Arlington, Texas
Income needed to live comfortably in 2018: $60,592 Necessities (50%): $30,295.96 Splurges: (30%): $18,178 Savings (20%): $12,118 Increase from 2017: 30.53%
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4. Fresno, California

4. Fresno, California
Income needed to live comfortably in 2018: $58,616 Necessities (50%): $29,307.80 Splurges: (30%): $17,585 Savings (20%): $11,723 Increase from 2017: 31.29%

3. Columbus, Ohio

3. Columbus, Ohio
Income needed to live comfortably in 2018: $58,973 Necessities (50%): $29,486.56 Splurges: (30%): $17,692 Savings (20%): $11,795 Increase from 2017: 31.48%
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2. Austin, Texas

2. Austin, Texas
Income needed to live comfortably in 2018: $73,163 Necessities (50%): $36,581.28 Splurges: (30%): $21,949 Savings (20%): $14,633 Increase from 2017: 33.92%

1. Colorado Springs, Colorado

1. Colorado Springs, Colorado
Income needed to live comfortably in 2018: $67,011 Necessities (50%): $33,505 Splurges: (30%): $20,103 Savings (20%): $13,402 Increase from 2017: 35.61%
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