Study: Grand Junction ranks among best places to live on $50,000 salary

Grand Junction ranks as the best place to live in Colorado on an annual salary of $50,000, according to the results of a study comparing cost of living expenses as well as livability and amenities.

According to the results of the study conducted by GOBankingRates, transportation, health care and miscellaneous costs run below average in Grand Junction, making a $50,000 salary sufficient to cost basic necessities.

Those basic necessities come to total of $34,598.86 a year. That leaves $15,401.14 for someone with an annual salary of $50,000.

Grand Junction also received high marks in the study for offering hiking, mountain biking, skiing and other outdoor activities.

GOBankingRates, which operates a money lifestyle website offering tips on finding good interest rates and reaching financial goals, conducted the study to identify the best places in each state to live on a $50,000 salary.  As of July, the Bureau of Labor Statistics calculated the median annual salary in the United States at $47,216.

Cost-of-living expenses were subtracted from a $50,000 salary to determine the results. Information about livability and amenities also was considered. For the purpose of the study, cities were limited to those with at least 5,000 households and a median annual income between $45,000 and $55,000.

Study results are available online at the website at www.gobankingrates.com/making-money/economy/best-places-to-live-50k-salary-every-state/.