Choosing the ideal place to live can be hard. Most of the time, it seems like you have to pick an area that offers a low cost of living or an expensive one that's home to high-paying jobs.
But in many U.S. cities, you don't have to choose. GOBankingRates crunched the numbers to find places where the average annual salaries are high and the cost of living is low.
To determine the top cities, GOBankingRates compared average annual income to average monthly living expenses for each area, taking into account median rent prices, groceries and utility bills, using data from Zillow, Numbeo and the U.S. Census Bureau.
Cities in the South and Midwest, such as Dallas and Omaha, dominated the list. Oklahoma City nabbed the No. 1 spot, thanks to an average annual income of $72,385 and estimated annual expenses of $18,701. That leaves over $53,000 per year for saving, investing and fun.
Here are 10 places that offer high wages coupled with an affordable cost of living, allowing you to bank more of your income for the future.
10. Charlotte, North Carolina
Average annual income: $86,922
Median monthly rent: $1,344
Cost of annual necessities: $23,249
Charlotte, North Carolina
Anne Rippy | Getty Images
9. Dallas, Texas
Average annual income: $76,726
Median monthly rent: $1,445
Cost of annual necessities: $23,057
Giorgio Fochesato | E+ | Getty Images
8. Tampa, Florida
Average annual income: $80,121
Median monthly rent: $1,344
Cost of annual necessities: $23,035
Tampa skyline
Judy Kennamer | iStock/360 | Getty Images
7. Bakersfield, California
Average annual income: $76,673
Median monthly rent: $1,353
Cost of annual necessities: $22,632
E+ | Getty Images
6. Omaha, Nebraska
Average annual income: $74,125
Median monthly rent: $1,324
Cost of annual necessities: $21,779
Omaha, Nebraska
Andrew Reese | Getty Images
5. Durham, North Carolina
Average annual income: $74,401
Median monthly rent: $1,341
Cost of annual necessities: $21,625
Durham, NC skyline with the Hill building on the left and Durham Center on the right.
Getty Images
4. Phoenix, Arizona
Average annual income: $73,135
Median monthly rent: $1,296
Cost of annual necessities: $21,412
Phoenix, Arizona skyline
photoquest7 | iStock / 360 | Getty Images
3. Lexington, Kentucky
Average annual income: $77,827
Median monthly rent: $1,215
Cost of annual necessities: $20,535
Lexington, Kentucky
Davel5957 | Getty Images
2. Kansas City, Missouri
Average annual income: $69,301
Median monthly rent: $1,092
Cost of annual necessities: $19,756
Kansas City, Missouri
Tim Clayton | Corbis | Getty Images
1. Oklahoma City, Oklahoma
Average annual income: $72,385
Median monthly rent: $1,070
Cost of annual necessities: $18,701
Oklahoma City, Oklahoma
Jeremy Woodhouse | Image Bank | Getty Images
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