A new report shows that it really, really, really pays to live and work in San Antonio. According to the report, published August 15 by the Indeed Hiring Lab, San Antonio boasts some of the highest salaries in the U.S. when adjusted for the cost of living.
Among metros with at least 1 million residents, the report ranks the San Antonio-New Braunfels metro area fifth for cost-adjusted salaries — an average of $72,022 a year. That figure was based on annual salaries for jobs posted on the Indeed website. Those salaries then were tweaked according to cost-of-living figures produced by the U.S. Bureau of Economic Analysis.
The nonprofit San Antonio Economic Development Foundation says that although it is one the country’s largest cities, San Antonio maintains a “comparatively affordable cost of living” — nearly 12 percentage points lower than the U.S. average — coupled with big-city amenities. Alamo City's cost of living bolsters the metro area's appeal as a growing business hub that attracts young professionals, the group says.
San Antonio also shines in another part of the Indeed Hiring Lab report. Among metros with at least 250,000 residents, San Antonio appears at No. 4 for areas with the highest cost-adjusted salaries and above-average job opportunities.
“Even if you’re only considering economic factors when choosing a new hometown, don’t stop at adjusted salaries,” the report says. “Unless you’ve already got a secure job in hand, you should consider the ease of finding a job today and the odds of having one in the future.”
The Alamo City also fares well in a head-to-head matchup with its metro neighbor to the north.
Throughout the country, the Indeed Hiring Lab compared pairs of close-by “sister city” metro areas that offer a similar mix of jobs but where one metro wields an advantage over the other in terms of cost-adjusted salaries. In San Antonio’s case, Austin was the “sister city.” As you might expect, San Antonio’s typical cost-adjusted salary was notably higher than Austin’s ($67,361 a year), according to the report.
“Austinites might not have to move far or to someplace unfamiliar in order to boost their standard of living,” Indeed Hiring Lab’s chief economist, Jed Kolko, tells CultureMap. “San Antonio is nearby and has a more similar mix of jobs to Austin than most other places do — with salaries typically 7 percent higher than Austin, after accounting for living costs.”
Those looking to stay in the state should consider job opportunities in Brownsville and Harligen. That metro area, located in South Texas, has the highest adjusted salary in the country at $80,880.
Meanwhile in the Panhandle, Lubbock is the third best city in the country for both salaries and above-average opportunities — one spot above San Antonio. Living up to its nickname, the annual adjusted salary in Hub City is $72,340.