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SmartAsset first calculates its income requirements by determining the amount a family of four would need to spend on necessities in each state, according to the Massachusetts Institute of ...
Alabama. Comfortable wage: $56,646 Median income: $54,943 Alabama ranks No. 1 on this list in that it requires the least amount of money to live comfortably in the 50 states.
The cost of a comfortable life in the 12 best suburbs in America requires earning at least $85,000 on an annual basis. See More: The Living Wage a Family of 4 Needs in All 50 States Be Aware: 5...
To estimate how much money you might need to be satisfied or happy in every U.S. state, GOBankingRates factored in each state's cost-of-living index and used the $105,000 figure as the "benchmark."
ZIP code MSA: Jackson, WY-ID. ZIP code county: Teton County. ZIP code’s October 2023 home value: $4,239,773. ZIP code’s overall CoL index: 180.9. ZIP code’s overall annual expenditures: $131,997
GOBankingRates then combined factors (6) and (7) and factored it out by 20 (assuming 20 years of retirement) to give (8) retirement savings needed to live comfortably. All data was collected on ...
In Hawaii, you need to earn $112,411 to have what GoBankingRates considers a living wage. In Mississippi, you need $45,906. In California, you need to earn $80,013, the study states.
Salary needed to live comfortably: $291,586. Median household income: $129,647. Average monthly cost of living: $12,149. Learn More: 4 Housing Markets That Have Plummeted in Value Over the Past 5 ...