Do you like having a little extra money left over at the end of the month? If so, you need to think long and hard about where you choose to live and work.
The personal finance website GoBankingRates compiled a list of the cities that make it more difficult to save money given local wage rates and living expenses. The variables taken into account are median income, median home listing price, median rent, unemployment rate, average gas price and average cost of a basket of 15 common grocery items.
Related: The 20 Most Expensive Shopping Streets in the U.S.
Of the 15 worst cities for saving money, all but two are in California. The report cites expensive housing, high taxes and pricey gasoline as the main reasons behind the state’s poor performance.
Source: GoBankingRates
The report also determined the 15 best cities for saving money, all of which are located away from the coasts, except for Virginia Beach, Virginia. The city that snagged first place as the best place to save money is Gilbert, Arizona, followed by Plano and Lubbock, both in Texas. In all, six locations in Texas made the best cities list.
Here are the 15 worst cities for saving money, according to GoRankingRates, along with the data on local wages and living expenses:
15. Sacramento, California
Median income: $50,013
Median home listing price: $530,000
Median monthly rent: $1,395
Average gas price: $2.23
Average cost of groceries: $42.94
14. Bakersfield, California
Median income: $56,842
Median home listing price: $245,000
Median monthly rent: $1,395
Average gas price: $2.35
Average cost of groceries: $35.68
13. San Jose, California
Median income: $83,787
Median home listing price: $725,000
Median monthly rent: $3,300
Average gas price: $2.38
Average cost of groceries: $40.95
12. Long Beach, California
Median income: $52,944
Median home listing price: $479,950
Median monthly rent: $2,197
Average gas price: $2.57
Average cost of groceries: $36.58
11. Stockton, California
Median income: $45,347
Median home listing price: $239,450
Median monthly rent: $1,300
Average gas price: $2.21
Average cost of groceries: $45.33
10. San Diego, California
Median income: $65,753
Median home listing price: $589,900
Median monthly rent: $2,850
Average gas price: $2.49
Average cost of groceries: $37.79
Related: The 25 Most Expensive Cities for Renters
9. Fresno, California
Median income: $41,455
Median home listing price: $219,900
Median monthly rent: $1,250
Average gas price: $2.31
Average cost of groceries: $33.95
8. Miami, Florida
Median income: $30,858
Median home listing price: $459,000
Median monthly rent: $2,500
Average gas price: $1.87
Average cost of groceries: $39.06
7. Santa Ana, California
Median income: $52,519
Median home listing price: $430,000
Median monthly rent: $2,598
Average gas price: $2.55
Average cost of groceries: $40.42
6. New York, New York
Median income: $52,737
Median home listing price: $699,000
Median monthly rent: $2,700
Average gas price: $1.98
Average cost of groceries: $46.17
5. Anaheim, California
Median income: $59,707
Median home listing price: $535,000
Median monthly rent: $2,500
Average gas price: $2.55
Average cost of groceries: $47.72
4. Irvine, California
Median income: $91,999
Median home listing price: $847,922
Median monthly rent: $3,400
Average gas price: $2.55
Average cost of groceries: $44.67
3. Oakland, California
Median income: $52,962
Median home listing price: $480,000
Median monthly rent: $4,650
Average gas price: $2.37
Average cost of groceries: $53.43
2. Los Angeles, California
Median income: $49,682
Median home listing price: $650,000
Median monthly rent: $3,950
Average gas price: $2.57
Average cost of groceries: $39.01
1. San Francisco, California
Median income: $78,378
Median home listing price: $998,000
Median monthly rent: $4,650
Average gas price: $2.52
Average cost of groceries: $58.76
