Many Americans are struggling with the rising cost of living — and there doesn’t seem to be any relief in sight.
About half of American families (49%) can’t afford the “true” cost of living, meaning they don’t have enough to cover essential expenses to live securely, according to research from the Urban Institute (1).
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Here’s the average income of Americans by age in 2026. Are you keeping up or falling behind?
While average earnings have risen 43% nationwide since 2017, home prices have skyrocketed by 81% (with rent jumping 54%), according to the Urban Institute. The cost of groceries, gas, electricity and childcare have also risen sharply, and even the lowest-cost plan on the Affordable Care Act Marketplace has jumped 77%.
That means the cost of living is outpacing wage growth. That could be why some Americans are considering a move to a more affordable city or region…