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St. Louis ranked among best cities for high salaries, low cost of living

ST. LOUIS – St. Louis is one of the best cities in the country in offering both a low cost of living and high salaries, according to a recent study by a personal financial analysis company.

The study, published by The Ascent, examined mean annual wage data from the Bureau of Labor Statistics and cost of living data from the Council for Community and Economic Research.

The Cost of Living Index (COLI) measures the costs of groceries, housing, utilities, transportation, healthcare, and miscellaneous goods and services. Each category is scored and used to develop a single cost of living score for a city.

The research found some cities have a low cost of living but wages are low or stagnant. And some cities offer high wages and salaries but the cost of living is far greater than the national average.

The goal of the study was to find places that offered the best of both worlds. And that’s where St. Louis comes in. The Gateway City places fifth in the nation when factoring in cost of living with annual salary.

Rank City or Metro Cost of Living Index (COLI) Mean Annual Salary Salary/COLI
1 Kalamazoo, MI 77.0 $47,060 611.2
2 Huntsville, AL 90.8 $54,630 601.7
3 Des Moines, IA 89.5 $52,220 583.5
4 Champaign-Urbana, IL 87.0 $50,630 582.0
5 St. Louis, MO 87.4 $50,250 574.9
6 Houston, TX 94.5 $54,290 574.5
7 Kennewick-Richland-Pasco, WA 96.8 $54,690 565.0
8 Raleigh, NC 93.3 $52,580 563.6
8 (tie) Dayton, OH 88.9 $50,100 563.6
10 Peoria, IL 91.5 $51,510 563.0

 

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