Nine years ago, many Biglaw firms with offices in smaller markets took the bold step of standardizing associate compensation. Historically, firms paid their New York, D.C., and California associates more than those elsewhere in the country, both as a premium for young lawyers living in more expensive markets and as a straightforward acknowledgement that the firm made more money off their Manhattan practice than their Atlanta practice. Firms need to attract the best talent to their most lucrative offices and then keep them there despite a crushing cost of living imbalance.
But a lot of firms decided to flatten the compensation schedule. Suddenly, it became very attractive to trade San Francisco for Dallas. At the time, I declared this strategy… stupid. To convey my conviction, I tried to come up with a post that could compare the cost of living in these markets in a way that could resonate. Since a picture is worth a whole bunch of words, I gathered home listings off Zillow in various markets that a first-year, NY-market salary associate could credibly afford under the “2.5x annual income” rule. Associates in NY and DC loved it. Associates in Charlotte hated it.
Last week, we published a piece on The Cities Where Law Firm Associates Can Get The Biggest Bang For Their Buck. Unlike the 2016 project, this ranking didn’t assume a standard Biglaw salary, the National Jurist ranking took the mean reported young lawyer salary per location and adjusted it with a cost-of-living index. This created some weird results, like D.C. cracking the top 10 list for affordability because such a large percentage of their young lawyers are making serious bank. For that matter, New York came in the top 20. The results were informative, but lacked that special flare that only a bunch of Zillow images can drive… home.
So here are the top 10 cities from the National Jurist ranking, depicted as current listings that the average associate could secure based on 2.5x the mean salary there.
All photos are, obviously, from Zillow and used for commentary purposes.
Houston, TX — Avg. $176,610, Target $435K-$455K
This one will generate a ton of complaints because Houston is less a city than a vast, sprawling expanse. Whatever we pick will either be “too close” or “too far” from where lawyers actually work. I’m going to default to closer to the center of the city. If you want to live in Katy, go ahead. But we’re going to settle on the Museum District.
This one is a townhome with an open-concept loft-style look. 3 bed, 3 bath, 2340 sq ft. Hardwood floors throughout. Exposed trusses, gaslog fireplace, granite kitchen, and a roof deck. That chimney looks like it could get annoying though. Slightly over the middle of our 2.5 range at $449K.
Austin, TX — Avg. $163,598, Target $395K-$415K
Centrist Democrats can’t say enough about Austin these days, praising its affordability and proclaiming its weak regulation environment as key to the “Abundance” agenda. Maybe the lawyers are just missing that price point in the housing market, because the offerings in the ideal range aren’t all that inspiring. Solid options, to be sure, but nothing that would make someone give up their access to the NYC restaurant scene. Here’s a 2 bed, 2 bath, 963 sq. ft. in Tarrytown.
“Surrounded by tree-lined streets, charming cafes, neighborhood parks, and Lake Austin just minutes away, you’ll love the established character and convenience this community provides,” reads the description. It’s also pushing the range at $415K… and that’s before the HOA fees.
Dallas, TX — Avg. $171,367, Target $415K-$435K
I went with Oak Lawn for this one because it’s described as a nice neighborhood for professionals. This came in on the lower side at $420K, but it’s a condo so there are fees to consider which probably brings it back to the top of the budget. 2 bed, 2 bath, 1154 sq. ft.
“This well-maintained home offers an open floor plan with floor-to-ceiling windows that lead to a spacious balcony with wonderful views of the city.” There are two pools, so there’s that.
Washington, D.C. — Avg. $204,101, Target $495K-$515K
Sure. Whatever. Let’s call D.C. a “bang for your buck” market. The Pennsylvania is a mere 1000 away from the White House, at 601 Pennsylvania Ave. 1 bed, 1 bath, 801 sq. ft. with “a rooftop terrace with sweeping views of the Capitol and Washington Monument.”
It’s only $495K, but there are over $700 in condo fees to consider. But you’ll have the National Guard to protect you from all the… stray litter they’re picking up along the way. That’s the sort of intangible amenity that you really can’t price in.
Chicago, IL — Avg. $177,961, Target $430K-$450K
Right off the Magnificent Mile, this 2 bed, 2 bath, 1,350 sq. ft. is $439K and convenient to the heart of Chicago. Maybe you’ll have the National Guard soon too! Which would be the only thing that could be worse for you than the condo fees which top $1000. This almost certainly renders this unit outside the price target, but it was slim pickings for downtown listings.
“Dark-stained hardwood floors run throughout the main living space, which comfortably accommodates both living and dining areas and flows seamlessly into the kitchen – ideal for everyday living or entertaining.”
Los Angeles, CA — Avg. $184,143, Target $445K-$465K
There’s that “bang for your buck.” 1 bed, 1 bath, 754 sq. ft. and over $900 in monthly fees? Sign us up! You know you’re in trouble when the listing shows more shots of the building and its amenities than the unit itself. Enjoy the modern kitchen!
And having two of the lights burned out on the Dutch angle bathroom shot is a nice touch. This is an excellent example of the problem with this list. While a perfectly serviceable condo, this just isn’t even in the same universe of lifestyle for the money as, say, Minneapolis — which is next on the list. And yet it features higher for some reason.
Minneapolis, MN — Avg. $155,894, Target $380K-$400K
I don’t know much about the area, but the Warehouse District looks pretty close to downtown and can see the river… that’s got to be good, right? But also who cares about the location when the place looks this nice. That’s a perfect party room, right there. The kitchen is up-to-date and the fireplace looks classy in freeze-your-genitals-off Minnesota.
The bedrooms are plain, but decently sized. It’s a 2 bed, 2 bath, 1268 sq. ft. It’s $395K with over $800 in fees. Honestly, this looks pretty nice for the average of average lawyers.
Charlotte, NC — Avg. $390K-$410K
A nice, compact kitchen. This one is a little further from downtown but it’s not so bad. Back in 2016, dealing with full Biglaw salaries, I picked a house much further out than most associates would ever live, but it was also basically a mansion. This is much more modest and only a little outside downtown.
Lofted bedrooms are cool right up until they aren’t. But if you’re living by yourself, this is a fine option. 1 bed, 1 bath, 846 sq. ft.. We’re at $399,500.
Boston, MA — Avg. $189,154, Target $465K-$485K
“This meticulously designed 400 sq. ft. home…” I have a question about this “meticulous” design: who put that microwave there? Am I misunderstanding the scale and this is all built to Hobbit specifications? Because otherwise that seems like a third-degree burn waiting to happen.
This is another loft bed number and it’s in Back Bay. 1 bed, 1 bath, 400 sq. ft. for $485K. Nothing like a $1,213/sqft price tag to make you feel like you’re stretching your dollar!
Salt Lake City, UT — Avg. $139,479, Target $340K-$360K
Finally a 1 bed, 1 bath, 1123 sq. ft. for $350K. Right in our sweet spot. Around $700 in maintenance, but still. Lovely, open concept. Close to downtown without being in the center of it. “The spacious primary suite includes a walk-in closet and private full bath, while the second bedroom is ideal for guests with access to full bathroom.”
A nice view that probably would include mountains on a less cloudy day.
We ended up with a whole run of condos, which wasn’t the plan, but I didn’t want to have to defend my commuting decisions on behalf of hypothetical lawyers. So I placed everyone fairly close to downtown and that just turned out to be a lot of condos. Perhaps this experiment would’ve been better served by assuming a renter? After all, most lawyers just starting out aren’t buying. But the options aren’t remarkably better and to the extent they are, it’s just trading equity for fractional improvements.
Anyway, that’s what cost of living looks like.
Earlier: The Cities Where Law Firm Associates Can Get The Biggest Bang For Their Buck
Here’s Why You Don’t Deserve The Same Raise… In Pictures
Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter or Bluesky if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.
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