To determine which metro areas in the U.S. offer the best of both worlds, The Ascent, a subsidiary of The Motley Fool, divided the Council for Community and Economic Research's most recent Cost of Living Index (COLI) by the mean annual wage data from the Bureau of Labor Statistics for more than 200 metropolitan areas.
Houston ranked No. 6 on the list with a COLI of 94.5 and a mean annual salary of $54,290, giving Houston a salary to cost-of-living ratio of 574.5.
The analysis also found that all of the areas ranked also have a below-average cost of living. "You won't find any expensive cities with disproportionately high salaries–these are cheaper places to live that pay relatively high salaries, on average," said Matt Frankel, CFP, a personal finance writer and contributor for The Ascent.