- Incomes Needed to Be a Top 1% Earner Reach Over $1 Million in Some States – 2024 Study
The U.S. median income is around $75,000, with half of Americans earning less than that. High-income earners, on the other hand, can make 10 times that – or more. And this top 1% also makes up a disproportionately large part of the tax base, with their incomes generally putting them in the highest federal tax… read more…
- Where Millennials Are Buying the Most Homes – 2024 Study
Millennials, born between 1981 and 1996, have positioned themselves as the largest cohort of homebuyers, outpacing both Baby Boomers and Gen Z. While many are purchasing homes to start or grow families, others are building equity or simply escaping rising rental costs. But the leap to buying a home can be easier or harder depending… read more…
- Most Livable Small Cities – 2024 Study
Small cities may offer cost benefits for residents looking to stretch their income while enjoying a comfortable – and more spacious – lifestyle. While livability is a subjective concept that may take on different definitions for different people, some elements of a community can come close to being universally beneficial. Housing affordability, the spread of… read more…
- Financial Advisors in These States Saw the Biggest Pay Jumps – 2024 Study
Like other professions, financial advisors are affected by many factors, including location, income, client preferences and specific market characteristics. So, where an advisor earns the most can change over time, and even more so as technology allows them to work remotely with a greater number of clients in different markets. With this in mind, SmartAsset… read more…
- Homes Sell for Over $1 Million in the Most Expensive Housing Markets – 2024 Study
While the median sale price of U.S. homes is just shy of $421,000 in Q1 2024, homes in some areas more than doubled that average. These expensive places may prevent hopeful first-time homebuyers from investing in the area, making renting – or even moving to a less expensive area – a better alternative. In some… read more…
- Where Home Prices Increased Most – 2024 Study
Despite cooling inflation, homes across the U.S. in April sold at prices averaging 6% higher than a year before. This indicates demand for homes is still strong, while the supply of inventory underwhelms. While this market could favor those who are looking to sell their homes and move to a less expensive area, hopeful first-time… read more…
- Major Cities See Lower Birth Rate Than U.S. Average – 2024 Study
Jobs and other incentives have driven people in and out of cities for decades. But local economies can also be affected by birth rates and the size of families. From medical facilities and schools, to other institutions and businesses, these two factors can influence both job and housing markets. With this in mind, SmartAsset examined… read more…
- Minimum Income Needed to Support Different Family Types by State – 2024 Study
Supporting a larger household generally increases overall costs. But thanks to economies of scale, the cost per child decreases when having more than one child per family. Additionally, if one parent stays home to care for the children, families can potentially save a significant amount on childcare and other expenses. Despite these general trends, the… read more…
- Cost of Raising a Child in the Largest U.S. Metros – 2024 Study
Understanding the costs associated with raising a child is essential, not only for personal financial planning but also for shaping public policies that support family well-being. On average, it costs $25,181 per year to raise a child in a large U.S. metro. But the costs for childcare, additional housing, food, medical necessities and other expenses… read more…
- Careers With the Biggest Jumps in Pay – 2024 Study
New technology, legislation, resources and other economic factors can quickly influence supply and demand for different occupations. In turn, this can affect the level of pay workers receive – and the level of employment in that career path. To find which professions had the highest increases in pay year over year, as well as those… read more…
- Cost of Raising a Child Twice as High in Some States as Others – 2024 Study
When it comes to two working parents raising one child, the median annual cost across all states is $22,850 – but the range of costs from state to state can vary and even be much higher. In fact, it costs twice as much in some states when compared with others. With this in mind, SmartAsset… read more…
- Where Financial Advisor Income Grew Most – 2024 Study
Financial advisor income largely depends on the number of clients and their net worth. So as taxes, jobs, cost of living and other factors draw both clients and advisors from one place to another, how much a financial advisor earns in a local area might also change. To determine the latest income and employment trends… read more…
- Best Job Markets – 2024 Study
With costs of living skyrocketing in recent years and the demand for different skill sets changing, job seekers must be resourceful to find opportunities that best suit them. This could mean relocating for higher income, an improved work-life balance, growth potential or benefits. Keeping this in mind, SmartAsset evaluated job markets in the largest U.S.… read more…
- Rent vs. Buy: A Comparison of Housing Costs in U.S. Cities – 2024 Study
Many factors can go into home and mortgage prices as well as rental costs in a city, sometimes driving the two on divergent paths. These may include interest rates, housing inventories, family makeups and demographics, zoning and other legal ordinances, among others. As a result, homeowners in some areas could have an advantage, while renters… read more…
- Where the Most New Construction Homes Are Being Added – 2024 Study
The Consumer Price Index clocks inflation between spring 2019 and spring 2024 at 22.9%. But Zillow home sale data demonstrates a particularly swift hike in home prices during this time, with the average home sale increasing by 49.4% in the same window. Housing costs are often the largest budget item for Americans and this could… read more…
- Where Residents Are Experiencing the Most Financial Instability – 2024 Study
Inflation has hurt Americans financially in different ways, with the Census reporting that up to 45.8% of some households are having difficulty paying for essentials. In particular, inflation has put some Americans at higher risk for financial instability. With this in mind, SmartAsset ranked U.S. states according to where residents are struggling most financially. Data… read more…
- Social Security and Retirement Income Are Highest in These Cities – 2024 Study
Depending on employment and investment returns, the size of a retirement nest egg will look different for everyone. The number of work years, salary and retirement age will impact Social Security benefits. Meanwhile, both worker and employer contributions, investment allocations and timing will determine the value of retirement accounts like 401(k)s, IRAs and pension payouts.… read more…
- Best Housing Markets for First-Time Homebuyers – 2024 Study
First-time homebuyers who have just reached the threshold for a down payment can face steep competition from seasoned homeowners with established equity. And as the cost of living increases, some of these first-time hopefuls could be squeezed out of more expensive areas. With this in mind, SmartAsset examined the current state of the housing market… read more…
- Where Retirees Are Moving – 2024 Study
As people retire, their goals shift, often causing them to reconsider where they’re living and how they spend their money. Places with a high cost of living, high taxes and cold winters, for example, could influence retirees to move to warmer locations where they can stretch their retirement savings further and enjoy their free time.… read more…
- Best Places for New College Graduates – 2024 Study
As we enter commencement season, college graduates will be seeking a variety of jobs and lifestyles. Therefore different areas are going to cater more to some than others. For example, one graduate may highly value living in a younger community with plenty of recreational activities to dabble in, while others are focused on career growth… read more…
- What It Takes to Be Middle Class in America – 2024 Study
As a middle-class American, there is some expectation for living a lifestyle of relative comfort. But as costs have increased significantly over the last few years, the middle class is now feeling a squeeze in their finances. Accordingly, the income limits that define the middle class have also increased to reflect what most Americans are… read more…
- Where Airfare Increased and Decreased the Most – 2024 Study
Prices on individual goods and services can take on their own characteristics based on unique supply and demand challenges throughout different locations nationwide. Air travel in particular faces unique pressures including staffing, equipment maintenance, fuel, passenger demand and more. In turn, the price of domestic flights can affect tourism, visits to family, and business opportunities.… read more…
- Counties at Greatest Risk for Wildfire Damage – 2024 Study
Wildfires have become more prevalent in the U.S. over the last few decades. Like many other climate events, they can have a devastating effect on communities, destroying buildings and homes, closing businesses, damaging agriculture and changing the local ecology. Ultimately, with the increase in wildfires, some insurance companies have pulled their services out of specific… read more…
- Cities Where Rent Increased Most – 2024 Study
Rent is a top expense for many Americans, so increases may disproportionately affect their budget. Between February 2023 and 2024, inflation as a whole went up by 3.15%. While the average rent increase in U.S. major cities was at parity with inflation, some cities saw rent increase as high as 8.0% – and others actually… read more…
- Where Americans Are Happiest – 2024 Study
Money can’t always buy happiness. However, quality of life can influence your financial decisions and outcomes. Depending where you live, certain quality of life factors, including metrics like life expectancy, infrastructure and the rate of marriage, can ultimately impact your happiness. To find where Americans are happiest, SmartAsset evaluated 90 of the largest U.S. cities… read more…