Personal Finance

2 RI Cities Named Among Best Places To Live On $60k Salary

Smartasset.com ranked the best cities in the country to live on $60,000 per year.

CRANSTON, RI — Two Rhode Island cities were named in a ranking of the 24 best places to live on a $60,000 per year salary. Both Warwick and Cranston made the ranking from Smartasset.

According to data from the Census Bureau, the median household income was $61,937 last year. Based on that benchmark, the company determined which cities were the best. Midwestern cities topped the ranking, with seven out of the top 10 in that region.

Cranston came in at number 13, while Warwick was ranked at number 21. Here's a look at the cities fared in each category:

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Cranston

  • Rank: 13
  • Establishments per 10,00 residents: 3.5
  • Average commute time (in minutes): 23.9
  • Housing cost percentage (of $60,000 income): 25.5
  • Median household income: $64,680
  • Unemployment rate: 2.1 percent
  • Overall score (out of 100): 79.52

Warwick

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  • Establishments per 10,00 residents: 4
  • Average commute time (in minutes): 24.2
  • Housing cost percentage (of $60,000 income): 27
  • Median household income: $63,834
  • Unemployment rate: 3.4 percent
  • Overall score (out of 100): 71.94

The ranking was determined by several factors, including median household income, median monthly housing costs, the percent of housing costs from total income, entertainment and civic establishments per 10,000 residents, percentage of people without health insurance, average commute time, unemployment rate and poverty rate. Each city was ranked in each category, then the rankings were averaged to create the city's overall ranking.

Here's a look at the top 10 cities:

  1. Appleton, Wisconsin
  2. Billings, Montana
  3. Cedar Rapids, Idaho
  4. Sioux Falls, South Dakota
  5. St. Charles, Missouri
  6. Eau Claire, Wisconsin
  7. Waukesha, Wisconsin
  8. Rogers, Arkansas
  9. Portland, Maine
  10. Sioux City, Iadaho

Read more about the ranking and the top 10 cities here.

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