This is how much a six-figure income is worth in California

Earning a six-figure income has long been a sign of success and financial comfort for American workers. (Unsplash)

Earning a six-figure income has long been a sign of success and financial comfort for American workers. Still, with high inflation and the cost of living, the annual income may not be enough to support a life in California.

A new study from Smart Asset analyzed the after-tax income per $100,000 in 76 of the largest U.S. cities and adjusted those numbers to represent the cost of living in each location. California cities ranked low for the places where $100,000 had the most purchasing power.

California cities where a six-figure income had low purchasing power:

Researchers used the Smart Asset Payroll Calculator to determine after-tax income for several cities. They used data from the Council for Community and Economic Research to determine the cost of living for the United States included in the study.

While $100,000 may not have much buying power in California, the six-figure income goes a long way in other states, primarily due to lower taxes and cost of living than in the Golden State.

This is where $100,000 has the most purchasing power:

While cities in Texas dominated the list of places with the most purchasing power for $100,000, Memphis, Tennessee, holds the top spot.