This is the value of a six-figure income in California

For American workers, earning a six-figure income has long been a sign of success and financial abundance. (unsplash)

For American workers, earning a six-figure income has long been a sign of success and financial abundance. Still, that annual income may not be enough to support you in California due to high inflation and the cost of living.

Smart Asset's new study analyzed $100,000 of after-tax income in 76 of the largest U.S. cities and adjusted those numbers to represent each region's cost of living. California cities ranked last for places with the most purchasing power of $100,000.

California cities with low purchasing power even with six-figure incomes:

Researchers used the Smart Asset payroll calculator to determine after-tax income in multiple cities. They used data from the Community Economic Research Council to determine the cost of living in the United States included in the study.

$100,000 may not have much purchasing power in California, but a six-figure income can go a long way in other states. This is primarily due to lower taxes and cost of living than the Golden State.

$100,000 has the most purchasing power:

Texas cities dominated the list of places with the highest purchasing power of $100,000, but Memphis, Tennessee, maintained the top spot.