Throughout this era of financial uncertainty in the US, customers want perception into the common value of residing throughout the nation’s massive cities. This data not solely helps when they’re deciding about transferring to a brand new metropolis but in addition supplies perspective into how a lot residents are spending on the commonest family payments.
A brand new report by doxo, a invoice pay platform, exhibits that the common U.S. family spends $24,557 yearly on payments, 35% of the $70,784 median U.S. family earnings and about $2,046 monthly. Some massive cities pay rather more and others fairly a bit much less.
“By means of doxoINSIGHTS, we’re capable of present customers, companies, and monetary establishments alike with entry to the broadest and most clear knowledge accessible on precise family spending for the commonest payments,” Liz Powell, a senior director at doxo, stated in a press release.
“Moreover, this knowledge permits the service suppliers and monetary establishments that serve them to raised align with their wants, which is extra essential now than ever amid dampened shopper confidence within the economic system.”
The report’s findings embrace the whole month-to-month spend on the ten most typical family payments: mortgage; hire; auto mortgage; utilities; auto insurance coverage; cable, web and cellphone; medical insurance (consumer-paid portion); cell phone; alarm and safety; and life insurance coverage.
See the accompanying gallery for the ten costliest cities among the many 50 largest U.S. cities, in keeping with doxo’s bill-pay knowledge.