In 2016, the median monthly gross salary in Switzerland was 6,502 francs per month (equivalent to US$6,597 per month), is just enough to cover the high cost of living. After rent, taxes and social security contributions, plus spending on goods and services, the average household has about 15% of its gross income left for savings. Though 61% of the population made less than the average income, income inequality is relatively low with a Gini coefficient of 29.7, placing Switzerland among the top 20 countries for income equality.