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Title: This Is The Income Needed To Live 'Comfortably' In Every US State
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URL Source: https://www.zerohedge.com/markets/i ... ive-comfortably-every-us-state
Published: Jun 14, 2024
Author: Tyler Durden
Post Date: 2024-06-14 07:45:32 by Horse
Keywords: None
Views: 55
Individuals in the top 11 most expensive states in the U.S. need an annual income exceeding $100,000 to live comfortably. This map, via Visual Capitalist's Bruno Venditti, shows how much income single adults need to live comfortably in each U.S. state. SmartAsset calculated the income needed using the cost of necessities sourced from the MIT Living Wage Calculator, last updated on Feb. 14, 2024. In this case, “comfortable” was defined as the annual income required to cover a 50/30/20 budget, allocating 50% of earnings to necessities such as housing and utility costs, 30% to discretionary spending, and 20% to savings or investments. Massachusetts Ranks First Massachusetts is the most expensive state to live comfortably in. A single adult needs to make at least $116,022 annually or $55.78 per hour. 
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