Cities with the highest, lowest real minimum wage: report

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Cities and states across the U.S. are increasing their minimum wage this year. But the cost of living in those places could affect how far minimum wage actually goes. 

In a new report, SmartAsset found the cities with the highest and lowest "real" minimum wage this year. 

To calculate the "real" minimum wage, SmartAsset found the minimum wage for the 79 largest U.S. cities using minimumwage.com and local city websites.

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SmartAsset then adjusted the minimum wage based on the local cost of living for those cities using data from the Council for Community and Economic Research. 

The cost of living where you live can determine how far minimum wage actually lasts, according to a recent report from SmartAsset. Tips are seen on the bar at McSorley’s Old Ale House, which, established in 1854, is referred to as New York City’s old (REUTERS/Andrew Kelly / Reuters Photos)

The company then ranked the 79 cities to find which cities have the highest and lowest minimum wage in relation to cost of living. 

Read on to see the overall results, according to SmartAsset’s report.

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Cities with the highest real minimum wage

1. Minneapolis

Minneapolis, Minnesota, has the highest real minimum wage in relation to cost of living, according to SmartAsset.  (iStock / iStock)

Statutory minimum wage: $14.25

Adjusted for cost of living: $13.93

2. Buffalo, New York

Statutory minimum wage: $13.20

Adjusted for cost of living: $13.87

3. Denver

Statutory minimum wage: $15.87

Adjusted for cost of living: $13.84

4. St. Louis

Statutory minimum wage: $11.15

Adjusted for cost of living: $12.71

5. Tucson, Arizona

Statutory minimum wage: $12.80

Adjusted for cost of living: $12.50

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Cities with the lowest real minimum wage

1. Honolulu

Honolulu, Hawaii, is the city with the lowest real minimum wage in relation to cost of living, according to SmartAsset.  (iStock)

Statutory minimum wage: $10.10

Adjusted for cost of living: $5.44

2. Plano, Texas

Statutory minimum wage: $7.25

Adjusted for cost of living: $6.47

3. New Orleans

Statutory minimum wage: $7.25

Adjusted for cost of living: $6.54

4. Philadelphia

Statutory minimum wage: $7.25

Adjusted for cost of living: $6.69

5. Atlanta

Statutory minimum wage: $7.25

Adjusted for cost of living: $6.80

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