There are some cities that will always have an irresistible draw, despite the costs and effort it takes to live in them. Places like New York, Los Angeles and San Francisco are especially attractive to young workers in search of glamorous jobs, creative energy and an exciting social scene.
But at some point, the perceived perks of living in a popular city may no longer be worth the cost of living there, especially if you aren’t earning enough to afford the basic quality of life that others in the rest of the country might enjoy for less.
Even if you’re relatively well paid, you could still find yourself priced out of desirable neighborhoods. This becomes an even bigger issue once you have a family and things such as space, safety and good schools become a priority.
So what should you do if you’re ready to trade in your overpriced bachelor apartment for a nicer, less expensive place in another town? Obviously the first step is thinking about where else you’d like to live and whether or not you’d actually be better off financially. Maybe you’ve always longed to live in a mountain town like Bozeman, Montana, but unless you can find a job there, you might still find yourself struggling no matter how much less you’re paying in rent.
Another option is to look at cities where jobs are booming. Many cities are hubs for particular industries (i.e. Silicon Valley and Austin for technology or Seattle and Los Angeles for aerospace). An online search can help you find where they’re hiring in your industry.
The U.S. Bureau of Labor Statistics offers a wealth of information about employment statistics in the U.S. including states with the highest concentration of employment for a particular industry. Search “interior designer” for example, and numerous articles pop up, including a geographic map showing levels of employment in each state.
But be careful. Just because a region is known for a particular industry doesn’t always mean it offers the best opportunities. Not all job offers are created equal. On the surface, a $150,000 offer from San Francisco might seem like a much sweeter deal than a $100,000 offer from Austin – that is until you feed those numbers into a cost-of-living calculator like the one at bankrate.com. Once you figure in things like housing (at least $2,000 more a month in rent) and other costs, you’re still getting more for your money in Austin than you are with a higher salary in San Francisco.
But what if you don’t want to live in Texas?
There are obviously many factors involved in your decision that aren’t easily quantifiable such as climate, scenery, community or other quality of life issues. Although money might seem like the dominating force in your decision to move, dig deeper and ask yourself what you’re really craving. Is it more space? A better neighborhood? Are you yearning for more free time? Would you like to be closer to nature or family? Are you looking for a great place to raise a family with great schools? All of these things should factor into your choice of where to go. Once you’ve narrowed it down, it will be much easier to direct your search.
The web site bestplaces.net gives you an overview of some of the best and worst place in the country to live. The site ranks cities and lets you compare them based on things like climate, crime, schools and cost of living.
Even something as simple as being able to commute to work on a bike rather than on a congested interstate or a crowded subway might be worth millions to you. In the end, it all comes down to time—whether or not you have it and how you want to spend it.
