How much does it cost to live comfortably in America’s fifth-largest city?
Well over six figures, according to a new study by GOBankingRates . The company calculated an estimate of the average cost of living for a homeowner in the 50 largest cities in the country. The cost of living included groceries, child care, utilities, transportation and mortgage payments.
“Using the 50/30/20 rule that states that the needs should not exceed 50% of the household income, 30% for discretionary spending, and 20% for savings, the total cost of living can be doubled to find the household income needed to be comfortable,” the study stated…