PHOENIX – According to a recent study, Phoenix is one of the 10 best cities in the country for those looking to live cheap and hold down a high-paying job.
According to a study from GOBankingRates, the Valley city ranks fourth between Durham, N.C. and Lexington, KY.
To determine the top cities, GOBankingRates compared the average annual income to average monthly living expenses for each area. They took into account median rent prices, utility bills and grocery costs provided by the U.S. Census Bureau, Zillow and Numbeo.
Phoenix's cost of living was a main factor in the city's ranking.
Average annual income: $73,135
Cost of necessities calculation: $21,412