Here's what you need to consider - Let's say that you're able to save 10% of your net pay, and the cost of living is in line with your salary to allow that. If you're living somewhere relatively inexpensive, say in the Carolinas, you might be making around 50 grand after OT and such. Say it's 34 G after tax. You can save $3400 after expenses. Now, if you're living in NY or somewhere similarly expensive, you might make 100,000/yr with OT. After taxes, you're left with around 65 grand. You'll save about $6500.
The yearly savings rate is almost double (in this hypothetical scenario) in the high income area as opposed to the low pay/low cost of living area.
The take home lesson is that if you live in a high cost area, and are working for a competitive wage, you'll save much more than you would if you work where the cost of living is cheap, with the salary reflective of that region. Especially since the housing market has underwent a much needed correction.
What's more, 10% of a dollar, or 10% of 100 dollars?