Food, transportation, and housing are the largest expenses most people have. Of the 3, housing is by far most expensive.
Food costs approx $10 daily if cooking all meals? $4,000 yearly?
Transportation is $7,000 yearly on average for a Honda Accord?
Meanwhile, housing in the nation’s capital is about $1600 monthly (rent or mortgage plus all utilities). $19,000 for the year… and only to use as a place to sleep, bathe, and cook.
This can quickly become unaffordable, on minimum wage full time earnings.
The cost of housing is rising so quickly across the U.S., the number of people sleeping in their car is rising. This is also affirmed by its popularity in searches – see the higher highs and higher lows up to this post date over the past 5 years.
Where to live if you want to invest more and pay less?
Find cities with high wages and low housing values.
Login to view an analysis of cities in States with 457+401k plans for State government employees, ranked by the ratio of wages-to-housing value.