Best City for Young People to Get Rich is on the Michigan Border
If your life goal is to get rich, it’s something you have work on very early. I mean, there are exceptions, but it certainly helps if you have a head start on building your wealth. As it turns out, a city on the Michigan border is the best city for young people to get rich in America.
The news comes from Moneyunder30.com, who conducted a study to determine the 10 cities with the most affordable housing and above-average salaries for 18-to-34-year-olds. “If you want to grow wealthy, where you live matters,” they state in the study. “Although Silicon Valley may be today’s locale of choice for aspiring members of the triple comma club, most of us aren’t going to strike silicon gold by launching the next Facebook.” They add, “Money Under 30 studied cities across the United States to find the ideal combination of modest expenses and decent salaries. In other words, we looked for locations where you can earn and save at the same time.”
As for methodology, Moneyunder30.com at how much young people were earning in each location. For example, a high per capita income doesn’t mean much of the people in that bracket are older. So, they looked for cities with a high per capita income for people under 34.
So, what’s the No. 1 best city for young people to get rich in America? It’s South Bend, Indiana. that’s so close to the Michigan border. There, the median income (with a bachelor’s or higher) is $71,829, and young people making more than $35,000 per year is 65%. Median rent is only $720, too. “South Bend tops our list for a slew of reasons — including a median income that’s 10% above number two Springfield,” Moneyunder30.com writes. “Nor is South Bend exactly in the boonies; Chicago is just 90 minutes away by car if you’re craving hopping nightlife or culture out the wazoo.” They add that the education sector offers big opportunities with Notre Dame being the area’s the top employer. South Bend is also where AM General is located. Find the full list of the best cities for young people to get rich in America here.
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