- Cities Where Population Grew the Most Over Five Years – 2023 Study
This story was last updated November 3, 2023. Population growth can have a ripple effect throughout a local economy. As people move into an area and families grow, demand on housing, local businesses and infrastructure can be unexpectedly impacted. Examining shifts in populations and their dynamics can help residents understand the greater economic picture and… read more…
- Where Income Increased Most Year Over Year – 2023 Study
When income goes up, it can lessen the burden of inflation and even outpace it. The Consumer Price Index, which measures the average change in prices over time, jumped roughly 13.5% in 24 months from 2021 to 2022. But the median income across major U.S. cities over the same time period only went up 8.1%,… read more…
- Where People Have the Most Graduate Degrees – 2023 Study
Despite the rising cost of higher education, a larger percentage of Americans are earning advanced degrees when compared with previous years. In fact, Census Bureau data indicates that the number of adults with a master’s degree jumped by more than 50% between 2011 and 2021. With these figures in mind, SmartAsset set out to identify… read more…
- How Cost of Living in Each State Compares to European Countries – 2023 Study
While the Euro has long been more valuable than the American dollar, the cost of living in the United States is significantly higher than across Europe on average. Basic expenses for a single adult with no children in the U.S. is $2,508, compared to an average $1,746 per month in Europe. However, individual states and… read more…
- STEM Cities: Where Science and Engineering Is Most Popular – 2023 Study
As the fields of science, technology, engineering and mathematics (STEM) continue to grow, more and more undergraduate college students are focusing on these areas of study. According to data from the National Center for Education Statistics, 42% more STEM degrees were conferred in 2020-21 than 10 years earlier. With this in mind, SmartAsset examined Census… read more…
- Where Real Estate Taxes Are Highest – 2023 Study
Whether an individual or family is just starting out as a first-time homebuyer, or retirees are paying off their retirement home, real estate taxes will be a required ongoing housing cost. This money is used to cover municipal costs, local infrastructure and other amenities. Local tax abatements and homestead exemptions may help homeowners with some… read more…
- Number of People Living Alone Surges Across U.S. Cities – 2023 Study
When family and social dynamics change, it affects more than just culture. Business, government and society as a whole cater specifically to the needs and values of American households. Family values and attributes may also influence birth rate and population growth trends. Ultimately, emerging trends within American households live far beyond the four walls of… read more…
- Best Community Colleges for 2023
After community college enrollments plummeted during the Covid-19 pandemic, attendance at two-year public colleges started to rebound in spring 2023. Enrollments ticked up 0.5%, according to the National Student Clearinghouse Research Center, marking the first time in years that community colleges saw even modest growth. To find the best community colleges in the country, SmartAsset… read more…
- 2024 Housing Market Projections: Where Prices Could Grow Most
Amid interest rate volatility over the last few years, the housing market “locked in” some homeowners with historically low rates, while pricing out others. Even though no one can predict the future, it is possible to forecast the trajectories of housing markets at the local level using relevant data. Such models can help inform potential… read more…
- Where a Graduate Degree Adds Most to Your Wallet
Depending on the school, area of study and other factors, a graduate degree could cost anywhere between $30,000 and $120,000, according to the Education Data Initiative. And that’s after the cost of a bachelor’s. Amid the high expenses of education and ever-changing job markets, it’s important to weigh the opportunity costs of a graduate degree… read more…
- Income Rose by up to 30% in Some U.S. Cities – 2023 Study
To see where income increased most, SmartAsset examined Census Bureau data for 124 of the largest cities in the country and ranked them by the size of income changes.
- Best Housing Markets for First-Time Homebuyers – 2023 Study
A home purchase can serve as a building block for the homeowner’s financial life – and the circumstances of the local market can make or break the deal. First time homebuyers may look for a less competitive market to have a better chance of getting a realistic offer accepted. They also need affordability, to position… read more…
- What a Second or Third Child Costs Parents Across the U.S. – 2023 Study
It can cost up to $35,000 annually to raise a single child in the most expensive places. Even on average, the first child costs parents more than $20,000 annually during their early years. These costs can get substantially higher for parents who want to have a second or third child. To measure the baseline costs… read more…
- Where High Earners Are Moving – 2023 Study
Despite cost of living challenges, the number of high-earning American households continues to grow. In 2021, 8.68 million tax returns indicated annual earnings exceeding $200,000 – up from 8.57 million returns just a year earlier. The migration of these high-earning households can have significant effects on a state’s tax base and finances. SmartAsset set out… read more…
- Wall Street Texas: A NYC-Austin Move Can Save High Earners 40% or More
Thanks to no state income tax and a cost of living that’s practically on par with the national average, high earners from more expensive cities like New York City, San Francisco and Chicago can maximize their income by relocating to the Texas state capital. To determine how much you can save by moving to Austin,… read more…
- Where Home Prices Are Falling Most – 2023 Study
Larger housing trends in the U.S. as a whole don’t necessarily inform hopeful homebuyers or current homesellers about their markets. Some locales offer the advantage – or disadvantage – of bucking nationwide trends. For example, while home prices increased by at least 20% over the last year in some places, they also decreased substantially in… read more…
- America’s Top 1% Is Different in Each State: From a $370k to $950K Income
American wealth is becoming increasingly concentrated at the very top of the economic ladder. The top 1% of families hold over a third of the total wealth in the U.S. – up from 27% in 1989 – according to a Congressional Budget Office report from 2022. The bottom half of all households, meanwhile, control just… read more…
- America’s Most Expensive Housing Markets – 2023 Study
With home prices increasing by 20% or more in some places and decreasing by 15% or more in others just over the last year, the home-price volatility of the last few years is settling asymmetrically. To help Americans evaluate their best options when it comes to housing – whether they’re looking to buy or sell… read more…
- Rent Increased by 30% or More This Year in Some U.S. Cities – 2023 Study
On average, rents increased 5.45% over the last year, exceeding the inflation rate during the same time. But some areas saw much steeper increases than others – up to a 63% hike. To find out where housing rentals are taking… read more…
- Most Livable Small Cities – 2023 Study
For some, the hustle and bustle of big-city living can be overwhelming, but the slow pace of life in a rural small town may not provide enough excitement. Luckily, America is dotted with small cities – places with populations between… read more…
- Climbing the Income Ladder: How Taxes Impact Different Salaries – 2023 Study
Remote work has allowed skilled workers to mobilize and capitalize on the benefits of different areas of the U.S. After all, a $100,000 salary is worth far more in a place like Memphis than high-cost cities like New York and… read more…
- ‘Wall Street South’: A NYC-Miami Move Can Save You Up to $200K
With cost of living increases and high tax rates in cities like New York City, Chicago and San Francisco, high income earners are looking to take advantage of more affordable areas of the country for the sake of stretching a… read more…
- America’s Safest Suburbs – 2023 Study
People often opt to move to the suburbs for myriad reasons – space, affordability, schools, employment and sometimes to seek safety. Violent and nonviolent crime rates, roadway safety, and drug and alcohol abuse within a community can affect the quality… read more…
- 60% of Financial Advisors Use or Are Interested in Using ChatGPT – 2023 Survey
While the onslaught of artificial intelligence (AI), specifically ChatGPT, has proven to be a sudden and bumpy transition, financial advisors – among many other industries – have eagerly begun trying to fit the technology into their practices. The AI chatbot has the ability to interface with clients and prospects while analyzing data and drafting memos. Still, many… read more…
- Secure 2.0: How Super-Catch-Up Contributions Can Grow Your Retirement
Catch-up contributions allow people age 50 and older to save extra money in their retirement accounts. These additional savings are currently capped at $7,500 per year, but some workers will soon be eligible to save more money for retirement… read more…