- Cities Where Renters Can Afford to Live Alone – 2021 Edition
The nationwide median monthly rent in 2019 was $934 for a studio apartment and $953 for a one-bedroom, according to Census Bureau data. This can add up to anywhere between about $11,200 and $11,400 per year for solo renters. Living with a roommate is a common alternative to save money, but some residents may prefer to… read more…
- Income Thresholds to Be a Top Earner in America’s Largest Cities – 2021 Edition
The median household income is about $65,700, according to the most recent Census Bureau data. However, the top 20% of earners nationwide makes about twice this amount, potentially increasing their ability to save and invest for bigger financial goals like retirement. In 2019, the threshold to be in the 80th percentile of households according to annual… read more…
- States With the Best Infrastructure – 2021 Edition
On June 24, 2021, President Joe Biden reached an agreement with a group of bipartisan Senators for an infrastructure plan that will invest over $1.2 trillion in eight years on roads, water, electricity, broadband internet and other projects. Aimed at revitalizing the American economy, the bill, if passed, would be the largest long-term investment in… read more…
- Best Places to Work in Tech – 2021 Edition
Over the past several years new tech hubs have emerged across the U.S., with hotspots such as San Francisco and New York City losing some ground. The COVID-19 pandemic may have accelerated this trend. According to LinkedIn data compiled by Axios, many more workers in the software and IT services sectors left the greater metro… read more…
- Best Community Colleges in America – 2021 Edition
Community colleges are an important first step in the higher education of a diverse range of students. They can offer quality education at relatively low costs, potentially allowing students and families to budget better and ultimately save more. According to data from the Census Bureau, although attendance at two-year institutions has declined slightly in recent years,… read more…
- Cities With the Most Million-Dollar Homes – 2021 Study
Though they comprise a relatively small fraction of total homes, the number of million-dollar homes in the U.S. is growing. In 2016, about 2.3 million homes were worth $1 million or more. Meanwhile, in 2019, that figure was roughly 3.1 million. However, compared to the total 78.7 million owner-occupied homes, less than 4% of homes… read more…
- Top 10 Cities for Working Parents – 2021 Edition
The past year has been a difficult time for many working parents who have had to balance remote work, potential job losses, school closings and limited access to childcare. A February 2021 survey by Joblist says that 47% of parents are working more hours per week on average than they were before the COVID-19 pandemic, making… read more…
- Where Rich Young Professionals Are Moving – 2021 Edition
The number of people who move each year within the U.S. has been steadily decreasing for years. The U.S. Census Bureau says that while more than 42.6 million people moved within the country in 1999, that number fell to 31.4 million by 2019. Despite this trend, younger people are more likely to move than those in… read more…
- Best Cities to Buy an Affordable Family Home – 2021 Edition
With higher housing costs and smaller living spaces, many large cities are less conducive to families. According to Census Bureau data, average monthly housing costs for homeowners across the 100 largest U.S. cities are more than 23% higher than the national average. Some large cities buck the trend, however. In this study, SmartAsset looked at… read more…
- States With the Worst Drivers – 2021 Edition
Whether you were once cut off by a car with Florida license plates or mercilessly tailgated by a driver in New York, we’ve all had bad experiences with drivers from other states (or our own) at some point. Besides the road rage, these situations can give us a lot of grief when it comes to… read more…
- Cities With the Strongest Economic Recoveries From COVID-19 – 2021 Study
With more than 40% of the U.S. population fully vaccinated (according to New York Times data as of June 15), the economies of many cities have started rebounding at a faster pace. However, the rebound has not occurred at the same rate nationwide. Factors like vaccination rates, public spending, poverty rates, tax revenue and politics have… read more…
- The Prevalence of Employer-Sponsored Retirement Plans in the U.S. – 2021 Study
The average 401(k) balance in the U.S. hit $123,900 in the first quarter of 2021, according to a recent report by Fidelity Investments. This marks more than a 70% increase from the average 401(k) balance a decade before ($72,800). But while balances are increasing among individuals with 401(k)s, a significant number of workers in the… read more…
- Cities With the Most Female Six-Figure Earners – 2021 Edition
Less than three in 10 six-figure earners in the U.S. are women, according to the most recent Census Bureau data. Though far from equitable, the percentage of women who are breaking the six-figure threshold is increasing, along with the gender distribution of six-figure earners – empowering them to potentially budget, spend, save and invest more… read more…
- Best (and Worst) Housing Markets for Growth and Stability – 2021 Edition
Editor’s Note: This study was originally published in June 2021. Buying a home is an important financial milestone. Many homebuyers have to save up for years, even decades, to buy a dream home. For them, this is a long-term investment… read more…
- Best Cities for Golfers – 2021 Edition
Experienced scratch golfers and duffers alike can agree on one thing: the cost of the game can break the bank over time. According to a 2018 Golfweek article, the median cost for an 18-hole round at a public golf course is $36 (including the cart). Equipment obviously adds some expenses, making accessibility to sporting goods stores… read more…
- What Are the Benefits of Working With a Financial Advisor? – 2021 Study
Estimates on the return on investment from having a financial advisor vary. In a 2019 whitepaper, Vanguard assessed an “Advisor’s Alpha,” or the value that a financial advisor adds to a client’s portfolio, to be about a 3% net return per year, depending on a client’s circumstances and investments. Separately, Morningstar researchers calculated how much… read more…
- Best Cities for an Affordable Wedding – 2021 Edition
When planning a wedding, the costs can add up pretty quickly. There’s the venue, the music, the photographer, the catering and the outfits and adornments, among other common expenses. While the average cost of a wedding in the U.S. fell to $19,000 in 2020 amid the coronavirus pandemic, The Knot says that American couples spent… read more…
- Most Bike-Friendly Cities in America – 2021 Edition
Biking is an eco-friendly, cheap, fun and healthy way to commute in the city. But not all cities are equally accessible for riders – some cities have designated bike lanes, while others simply lack the infrastructure. Nor are all cities the most affordable for the more savings-savvy cyclist. Keeping this in mind, SmartAsset identified and… read more…
- Best Cities for First-Time Homebuyers – 2021 Edition
Historically, first-time homebuyers have made up about 40% of all homebuyers in the U.S. However, over the past decade, the share of first-time homebuyers has fallen below that norm, hovering around in the mid-thirties according to data from the National Association of Realtors. In fact, it dipped still further over the past year – falling… read more…
- Price-to-Rent Ratio in the 50 Largest U.S. Cities – 2021 Edition
Depending on your circumstances, renting or buying a home can be a smart financial decision. Homeownership can help you build equity and lower taxes, while renting offers greater flexibility and convenient services. Keeping this in mind, SmartAsset ranked the 50 largest U.S. cities according to price-to-rent ratio. To calculate the price-to-rent ratios for the 50… read more…
- Top States for Higher Education – 2021 Edition
Over the past decade, the cost of a college education in the U.S. has increased significantly. Accounting for inflation, data from the Integrated Postsecondary Education Data System (IPEDS) shows that prices for undergraduate four-year public and private institutions rose respectively by 22.84% and 21.20% between school years 2008-2009 and 2018-2019. Notably, however, public universities remain… read more…
- Best Cities for Runners – 2021 Edition
The COVID-19 pandemic has made road races less frequent and temporarily closed down many indoor workout facilities. Now, as restrictions ease amid the increased percentage of vaccinated Americans, many may be poised to reclaim their exercise routines. In light of these dynamics, SmartAsset has identified and ranked the best cities for runners. To find the… read more…
- Hardest Places to Buy a Home in America – 2021 Edition
Buying a home has become increasingly difficult during COVID-19. Though low mortgage rates mean that many purchasers will spend less in interest over the course of their mortgage, home prices have risen and housing inventory has dropped. According to data from the National Association of Realtors, the median existing-home price rose by 17.2% from March… read more…
- Best Cities for Young Professionals – 2021 Edition
Remote work has increased dramatically during the COVID-19 pandemic, offering many young professionals greater flexibility to live farther away from their jobs. But it is unclear whether this employment trend will become permanent. A PricewaterhouseCoopers survey shows that more than two-thirds of executives think that employees should be in the office at least three days a… read more…
- Where Seniors Are Most and Least Financially Secure – 2021 Edition
A 2019 report from the Federal Reserve on the economic well-being of U.S. households says that only 37% of Americans think that their savings are on track for retirement. The rising costs of living, medical expenses and long-term care can make it difficult to save enough for annual retirement expenses. With this context in mind, SmartAsset compared… read more…