Glassdoor recently released a study that aimed to find the top 25 cities where pay goes furthest. The website came about their results by comparing the median base salary of a city to its median home value. They used this method because housing — mortgage or rent — has been identified as the biggest expenditure for people across all U.S. cities. Housing costs account for 33% of annual expenditures for the average American, more than any other expense.
Your money goes farther in Tampa.
In their final calculations, Tampa ranked in at 20th in the country. The median base salary in the city is $52,000 and the median home value is $163,600, with a cost of living ratio of 32%. The city has seen a recent surge in job openings with several major companies moving their headquarters to the area, along with a renaissance of new restaurants and event venues arriving over the past few years.
New projects and openings assist in steady job growth.
With major projects like The Heights, The Hall on Franklin, the Tribune Apartments and the massive redevelopment of the entire Channelside area, open jobs, apartments and incomes are bound to skyrocket, as well.
This isn’t the only accolade Tampa’s received in 2016.
This year, Tampa also found itself on the ranked as one of the top cities where home prices are skyrocketing, the home of the best franchise in all of sports as well as home to two of the top hotels in the entire state, a craft beer enthusiast’s paradise, and one of the hottest spots in the country for startup businesses. It just keeps getting better to live in this city.