“I have quite a few clients that live in California. I always say that if they moved, they’d be swimming in money,” says a certified financial planner. (via Grow_mag)
Still, some Gen Xers are doing better than others,Using data from Credit Karma, the Federal Reserve Bank of New York, the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, ValuePenguin, and Zillow, the Grow team looked at data from America's 100 largest metropolitan areas to find the top 10 metros where Gen Xers are best positioned to earn above-average salaries, pay down debt, and buy homes.
In these places, Gen Xers enjoy a mix of strong pay and ample job opportunities, as well as more reasonable housing costs, particularly for metro areas.Median household income: $78,165 2. Madison, WisconsinShare of Gen X household income that goes to housing: 16.8%Share of Gen X household income that goes to housing: 17%Share of Gen X household income that goes to housing: 16.7%Share of Gen X household income that goes to housing: 17.2%Share of Gen X household income that goes to housing: 15.
Most of the metro areas in the top 10 have one striking feature in common: They're in the Midwest. The affordability of many cities there attracts families who are looking to buy homes and save more of their paychecks — significantly more, in some cases. "I have quite a few clients that live in California," says Katie Brewer, a Dallas-based certified financial planner who runs Your Richest Life, a financial firm focused on Gen X clients. "I always say that if they moved, they'd be swimming in money," as the cost of living in the Midwest is lower than in many coastal cities.Midwestern metro areas tend to have more affordable housing options, which allows families to save more of their paychecks and grow their wealth.
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