The salary a single person needs to live comfortably in every U.S. state (2024)

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The salary a single person needs to live comfortably in every U.S. state? ›

While California ranks third-most expensive for a single adult to live comfortably at $113,652, it only ranks fifth-most expensive for two working adults raising two children. The total family income should be at least $276,724 in the latter case.

While California ranks third-most expensive for a single adult to live comfortably at $113,652, it only ranks fifth-most expensive for two working adults raising two children. The total family income should be at least $276,724 in the latter case.

On average, an individual needs $96,500 for sustainable comfort in a major U.S. city. This includes being able to pay off debt and invest for the future.

How much does the average American make a year? According to the U.S. Bureau of Labor, the average U.S. annual salary in Q4 of 2023 was $59,384. This is up 5.4% from the same time period in 2022 when the average American was making $56,316 per year.

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.

But just how much does a single person in California need to make to live comfortably? A new study from Smart Asset determined that a person must make at least $ 89,190 to get by comfortably.

You'll need to earn more than half a million annually to be considered among the highest earning residents in 11 states and Washington, D.C.

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.

What is the average cost of living in the US? The average cost of living in the United States is estimated to be between $2,500 and $3,500 per month, depending on your location and lifestyle. This includes housing, food, transportation, health care, taxes, and other expenses.

The federal minimum wage for covered nonexempt employees is $7.25 per hour.

What income is middle class for a single person? ›

You also need an annual household salary of at least $50,000 to be considered middle class in 17 other states, including California, New York, Oregon, Washington, Utah and Hawaii. In California, the difference is $122,000, from a salary of $61,028 on the lower end to $183,102 on the upper end.

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.

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.

California's living wage is $19.41, or $40,371 a year for an individual. A family of four requires $27.42, or $101,378 a year. Childcare costs will cost a family with two working adults $22,259 a year, slightly more than the $24,682 they can expect to spend on housing.

An individual must earn $96,500 a year before taxes to afford housing, groceries, transportation and entertainment, while also paying off debt and putting some money into savings, according to personal finance website SmartAsset.

The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps). Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year.

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 cost of living in the US? The average cost of living in the United States is estimated to be between $2,500 and $3,500 per month, depending on your location and lifestyle. This includes housing, food, transportation, health care, taxes, and other expenses.

A decent salary — one that allows for necessities, fun, and savings — might start around $69,000 for a single, childless person in Florida and $94,500 for a couple.