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The rising cost of living continues to take a bite out of American’s budgets. From groceries and utilities to transportation and housing, earning enough income to live comfortably as a single person in the U.S. is more difficult in these 25 U.S. cities, according to a recent SmartAsset report.
In fact, to live comfortably in 99 of the largest U.S. metro areas, you’ll need a median income of $93,933. In New York, the amount is $138,570.
Comfortable is defined as earning enough income to cover a 50/30/20 budget, where 50% of your income each month pays for necessities, 30% covers discretionary spending and 20% is set aside for savings and investments or paying down debt.
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New York the most expensive city for singles
- New York City tips the scale as the city where you must earn the most money to live comfortably. To cover basic necessities as a single person in New York City, you’ll need an annual salary of $138,570, and an estimated $70,000 in wages.
- An individual needs $96,500, on average, to live comfortably in a major U.S. city. That figure is even higher for families, who need to earn an average combined income of about $235,000 to support two adults and two children.
- To raise two kids and still live comfortably in six U.S. cities, a family must earn over $300k. The six cities are: San Francisco ($339,123); San Jose ($334,547); Boston ($319,738); Arlington, VA ($318,573); New York City ($318,406); and Oakland, CA ($316,243).
- Seven cities where a single person must earn the most to live comfortably are located in California. Texas claims four cities where a single person can earn less and still live comfortably, while the remaining six cities are located in the Midwest.
Using the MIT Living Wage Calculator, Smart Asset gathered data for 99 of the largest U.S. cities. We’re looking at the ten cities with the highest and the lowest annual salary needed for a single adult to live in sustainable comfort using the 50/30/20 budgeting rule.
Top 10 cities with the highest salary needed to live comfortably
Swipe to scroll horizontally
| Rank | City | Hourly wage needed | Annual salary needed |
| 1 | New York, New York | $66.62 | $138,570 |
| 2 | San Jose, California | $65.74 | $136,739 |
| 3 | Irvine, California | $60.96 | $126,797 |
| 4 | Santa Ana, California | $60.96 | $126,797 |
| 5 | Boston, Massachusetts | $60.08 | $124,966 |
| 6 | San Diego, California | $59.04 | $122,803 |
| 7 | Chula Vista, California | $59.04 | $122,803 |
| 8 | San Francisco, California | $57.48 | $119,558 |
| 9 | Seattle, Washington | $57.40 | $119,392 |
| 10 | Oakland, California | $57.10 | $118,768 |
Top 10 cities with the lowest salary needed to live comfortably
Swipe to scroll horizontally
| Rank | City | Hourly wage needed | Annual salary needed |
| 1 | Houston, Texas | $36.10 | $75,088 |
| 2 | El Paso, Texas | $36.18 | $75,254 |
| 3 | Lubbock, Texas | $36.24 | $75,379 |
| 4 | Toledo, Ohio | $37.26 | $77,501 |
| 5 | Laredo, Texas | $37.72 | $78,458 |
| 6 | Milwaukee, Wisconsin | $38.30 | $79,664 |
| 7 | Lexington, Kentucky | $38.46 | $79,997 |
| 8 | Tulsa, Oklahoma | $38.98 | $81,078 |
| 9 | Wichita, Kansas | $39.04 | $81,203 |
| 10 | Cleveland, Ohio | $39.32 | $81,786 |
From metro areas on both coasts to the Midwest, weigh the pros and cons
The difference between the priciest places to live and cheapest places to live in the U.S. is glaring.While employers in high-cost cities typically offer higher-than-average salaries, rent and housing costs can make it difficult to pay for essentials, while also paying off debt and saving for a rainy day.
On the other hand, high-paying Jobs can be harder to come by in lower cost areas, even if housing and other expenses are more affordable.
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For the past 18+ years, Kathryn has highlighted the humanity in personal finance by shaping stories that identify the opportunities and obstacles in managing a person's finances. All the same, she’ll jump on other equally important topics if needed. Kathryn graduated with a degree in Journalism and lives in Duluth, Minnesota. She joined Kiplinger in 2023 as a contributor.
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FAQs
The national median for living comfortably alone is $89,461, which suggests that a 50/30/20 budget might not be practical for most single people.
What is a comfortable salary for a single person? ›
Researchers found that, on average, single adults living in 99 of the largest metro areas in the U.S. need to make $96,500 to sustain comfortable living.
How much does a single person need to make to live comfortably by state? ›
Salary Needed to Live Comfortably in Each State
| Rank | State | Salary needed for a single working adult |
|---|
| 2 | Hawaii | $113,693 |
| 3 | California | $113,651 |
| 4 | New York | $111,738 |
| 5 | Washington | $106,496 |
11 more rowsApr 10, 2024
Top 10 cities with the highest salary needed to live comfortably
| Rank | City | Annual salary needed |
|---|
| 2 | San Jose, California | $136,739 |
| 3 | Irvine, California | $126,797 |
| 4 | Santa Ana, California | $126,797 |
| 5 | Boston, Massachusetts | $124,966 |
6 more rowsMar 25, 2024
If you make $75,000 a year, you're earning more than half of all workers in the U.S. And in fact, many people would probably consider the salary as good pay. After all, a $75,000 salary works out to around $6,250 per month, $1,442.31 per week, or $36.06 an hour.
What is a realistic living budget for a single person? ›
The average monthly expenses for one person can vary, but the average single person spends about $3,405 per month. Housing tends to consume the highest portion of monthly income, with the average annual spending on housing at $1,885 per month per person.
Is $80,000 a good salary for a single person? ›
Is $80K a good salary for a single person? $80,000 is about $5,000 higher than the U.S. median household income, so many people would consider it very good for a single person. “Good” is always a relative term when it comes to salary; whether or not the amount you earn covers your expenses is a highly personal dynamic.
What is a livable salary in the US? ›
According to research from MIT, the living wage in the United States was $25.02 per hour ($104,077.70 per year) before taxes per year in 2022 for a family of four (two working adults with two children). That's an increase from $24.16 ($100,498.60 per year) in 2021.
Is $25 an hour a livable wage? ›
An analysis of the living wage (as calculated in December 2022 and reflecting a compensation being offered to an individual in 2023), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: The living wage in the United States is ...
What is the average income in the US for a single person? ›
The average annual average salary in the U.S. is $63,795. The median annual salary, which is often less skewed by outlying numbers, is $59,384. It's worth noting that average and median salaries vary quite a bit by state.
California's average cost of living is $53,082 annually. Californians spend more than any other state on groceries per month, at $298. California is also above the national average when it comes to the cost of utilities, with the average monthly bill coming in at nearly $438.
How much money do I need to live alone? ›
The average monthly expenses for a single person will depend quite a bit on where you live, and if you're living alone for the first time, you might be surprised that most things cost more, not just your rent. The national average expenses for a single person living alone are around $3,500 per month.
What is a good salary in 2024? ›
Decent Salary
| Annual Salary | Monthly Pay |
|---|
| Top Earners | $86,000 | $7,166 |
| 75th Percentile | $68,500 | $5,708 |
| Average | $44,910 | $3,742 |
| 25th Percentile | $24,500 | $2,041 |
The salary a single person needs to live comfortably in every U.S. state
- Massachusetts: $116,022.
- Hawaii: $113,693.
- California: $113,651.
- New York: $111,738.
- Washington: $106,496.
With New Jersey ranking as the top state to make the most money to be considered middle class, other states ranking in the top five requiring salaries exceeding $50,000 to be in this category include Maryland ($63,321) and Massachusetts ($62,986), Hawaii ($61,633) and California ($61,028).
What salary is considered rich for a single person in USA? ›
Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.
What yearly salary is considered rich for a single person? ›
According to the most recent data available for fiscal year 2019, an income of $540,009 per year puts you in the top 1% category. Based on that figure, an annual income of $500,000 or more would make you rich.
Is $25 an hour good? ›
With careful budgeting and financial planning, $25 is still a viable hourly wage. Even though it's not a particularly high hourly rate, it's still well above the minimum wage rate in most areas. Keep in mind that your take-home pay will also be affected by things like benefits, overtime pay, and possible bonuses.
Is 200k a good salary for a single person? ›
If you had an income of $200,000, that would put you in the top 12% of household incomes or the top 5% of individual incomes in 2022. Though I prefer household income over individual income, no matter how you cut it, $200k a year puts you on the higher end of the income spectrum.
