Lynda Pratscher bought this two-bedroom condo for $138,500.
Lynda Pratscher bought this two-bedroom condo for $138,500.
1 of 3

If You Lived Here, You Could Be Rich by Now: New Study Shows Top Cities For Savers

May 31, 2014

Could a move boost your savings account?

A new analysis by Interest.com, based on 2012 data from the Bureau of Labor Statistics, compared median after-tax income with median expenses in 18 major metropolitan areas to see which cities provided the best savings opportunities. The good news is that maintaining an average standard of living and income would afford room for savings in all of them but one. (Phoenix was the outlier, perhaps because the area is still recovering from the housing bust.)

"What this really means is, don’t let your expenditures grow to meet your income," says Interest.com managing editor Mike Sante said. "You do have some control over those bills. You can still have a solid middle class life and have some money left over to save."

The nine cities that follow offer the best opportunities to sock away money, with the top one allowing you to bank an impressive $24,250 a year.

The Inner Harbor in Baltimore
The Inner Harbor in BaltimoreMaryland Office of Tourism
1

Baltimore, Md.

Median after-tax income: $73,816

Median expenditures: $49,566

Save $24,250 a year

The Metrorail in Washington, D.C.
The Metrorail in Washington, D.C.courtesy of Destination DC
2

Washington, D.C.

Median after-tax income: $85,769

Median expenditures: $65,802

Save $19,967 a year

Skyline of Cleveland, OH.
A view of Cleveland from North Coast Harborcourtesy of positivelycleveland.
3

Cleveland, Ohio

Median after-tax income: $49,772

Median expenditures: $34,428

Save $15,524 a year

Southwest view of Navy Pier, Chicago, IL.
Navy Pier in Chicago, Ill.courtesy Choose Chicago
4

Chicago, Ill.

Median after-tax income: $52,478

Median expenditures: $41,964

Save $10,514 a year

City Hall, Dallas, TX.
City Hall in DallasDCVB
5

Dallas/Ft. Worth, Texas

Median after-tax income: $50,106

Median expenditures: $40,843

Save $9,264 a year

Revival Market, Houston, TX.
Revival Market in HoustonJulie Soefer
6

Houston, Texas

Median after-tax income: $47,904

Median expenditures: $38,706

Save $9,198 a year

Open Field in Minneapolis, Minn.
Open Field in Minneapolis, Minn.Cameron Wittig—Walker Art Center
7

Minneapolis/St. Paul, Minn.

Median after-tax income: $62,134

Median expenditures: $53,256

Save $8,878 a year

140521_FF_Cities_ATL2
People shopping at the outdoor live, work, play complex, Atlantic Station, Atlanta, GA.courtesy AtlantaPhotos.com
8

Atlanta, Ga.

Median after-tax income: $49,433

Median expenditures: $41,351

Save $8,082 a year

140521_FF_Cities_SF2
Indoor market, San Francisco, CA.Scott Chernis—San Francisco Travel Association
9

San Francisco/San Jose, Calif.

Median after-tax income: $56,369

Median expenditures: $49,748

Save $6,631 a year

MONEY may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions