The Geography of High-Paying Jobs in the US
theatlantic.com
theatlantic.com
(average income - average COL) / average COL = relative purchasing power
p=(i-c)/c
or just p=i/c-1
which would mean that purchasing power is directly proportional to cost of living.The thing is that yeah, a room in a shared house in San Jose is going to cost you twice what it costs elsewhere... but it's still only $700 a month.
Yeah, as I get older and start a family, I'll care more about the cost of a reasonable standard of housing... but while I'm bootstrapping and willing to live in a place that is beneath my means, I think average income matters more than average cost of living.
Just always wondered how that would work :)
There is obviously some correlation. I find it hard to tell just by looking how much of the variance that explains.