Chandler ranked among top cities where $50K goes the furthest

PHOENIX – If you’re trying to get the most bang for your buck, you may be in the right place.

A personal finance website ranked Chandler among the top 20 cities where a salary of $50,000 goes the furthest.

Go Banking Rates studied 100 cities to find out where $50,000 will stretch the furthest after including taxes and living expenses.

The website looked at cost-of-living factors for each city, including median rent and the monthly cost of groceries, transportation and utilities.

Chandler secured the No. 7 spot on the list with a salary of $40,526 after taxes and $21,591 after other expenses.

According to Go Banking Rates, Arizona had the lowest tax hit out of the states that had their own income tax.

Chandler was also one of four cities on the list where the median income exceeded $50,000.

The No. 1 city on the list was Memphis, Tennessee, where the low cost of living allows residents to save more than half of a $50,000 salary.