California is home to eight of the 16 largest U.S. cities where families can earn $100,000 and still be broke, according to a new study by Lending Tree.
San Jose, in the heart of Silicon Valley, ranked first as the most expensive city in the nation, according to the report, issued April 24. A family of three that earns six figures there would be in debt each month after spending on housing and transportation, the national loan company reported.
“It may be the land of tech giants and millionaire entrepreneurs, but for a family of three living in San Jose, Calif., earning $100,000 annually would land them in the red by a whopping $1,493 per month – making it the top metro where six-figure earners may struggle to make ends meet,” Lending Tree wrote in a statement about the survey….