It’s important to find a job that is both rewarding and in an area buyers enjoy—but what about being in an area that will produce the most income? Thanks to research by Trove Technologies, a technology company that helps customers pack, move, and store personal and household items as well as maximize excess inventory of small, locally based moving companies, there is a list of regions that not only produce the most income for a chosen profession, but will also stretch that dollar further than other areas.
Trove Technologies took the salaries from 770 professions, considering cost-of-living and tax data in 195 U.S. cities, and organized the best and worst professions in each state, keeping in mind what states allowed for the most discretionary income. For homebuyers, this means better quality of life.
Texas came in as the overall best state for highest average discretionary income, with the overall best city being in Austin, Texas. The best jobs in the nation are for information security analysts, computer hardware engineers, epidemiologists, legal support workers, and media and communication workers—this is based on how these jobs rank up compared to the same job in other cities. Texas sports the title of best state for CEOs, but the worst for mathematicians.
Unfortunately, Hawaii came in as the lowest for average discretionary income, with the overall worst city being Honolulu. Taxes are estimated at $29,164 a year and basic expenses at $36,975, compared to Texas, which estimates taxes at $14,878 and basic expenses at $25,992, this is a significant jump. Hawaii is the best state for real estate brokers, but the worst for physicists.
The data used to create this list is based on data from the Bureau of Labor Statistics, The Tax Foundation, and The Council for Community and Economic Research.
To see all states and industries, click here.