High-earners could save 40% of their salary by moving from New York to Texas because of cheaper living costs and lower tax rates, report says

• High-earners in New York could save 40% of their salary by moving to Texas, a new study shows.
• This is because New York City has higher tax rates and living costs. 
• The cost of living in New York is 122% higher than the national average, per SmartAsset. 

High-earners in New York City could save 40% of their salary by relocating to Texas, a new study found.  

SmartAsset, a financial technology company, released a new report Thursday analyzing how much Americans can save by making the move from expensive cities like New York and San Francisco to Austin, Texas.