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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
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| 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 income for a single person? ›
Salary Needed to Live Comfortably in Each State
| Rank | State | Salary needed for a single working adult |
|---|
| 3 | California | $113,651 |
| 4 | New York | $111,738 |
| 5 | Washington | $106,496 |
| 6 | Colorado | $103,293 |
11 more rowsApr 10, 2024
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.
What is a good hourly wage to live comfortably? ›
SmartAsset says a single working adult must earn at least $114,000, or about $55 an hour, to support themselves in the Golden State. When it comes to a basic “living wage,” MIT says a single adult in California needs to earn $27.32 per hour or $56,800 per year.
How much money do you need to live comfortably in 2024? ›
The findings are eye-opening: to lead a comfortable life in a major U.S. city, an individual needs to earn, on average, an annual pre-tax salary of $96,500. This takes into account necessities, debt obligations, and investments for the future.
What is middle class income for a single person? ›
Middle Class Income Ranges in U.S. States
| Rank | State | Lower bound on middle class income |
|---|
| 5 | California | $61,028 |
| 6 | Washington | $60,865 |
| 7 | New Hampshire | $59,989 |
| 8 | Colorado | $59,529 |
11 more rowsApr 24, 2024
Very-Low, Low and Moderate-Income Limits
| Household Size | Very-Low Income | Moderate-Income |
|---|
| 1 | $11,550 or less | $19,301 - $30,850 |
| 2 | $13,200 or less | $22,051 - $35,250 |
| 3 | $14,900 or less | $24,801 - $39,650 |
| 4 | $16,550 or less | $27,551 - $44,100 |
4 more rowsLiving on $1,000 per month is a challenge. From the high costs of housing, transportation and food, plus trying to keep your bills to a minimum, it would be difficult for anyone living alone to make this work. But with some creativity, roommates and strategy, you might be able to pull it off.
What is a good salary in the US per month? ›
According to the latest figures by the Bureau of Labor and Statistics, the average salary in USA per month is $5,677 or $68,124 per year. As of 2023, the gross minimum salary in the USA is $32.75 per hour. Salaries range from $32,916 to $112,268 per year and include housing, transport, and other benefits.
What is the average expenses for a single person in the US? ›
Average Expenses of U.S. Households in 2022 and 2021
| 2022 | 2021 |
|---|
| Monthly | Annually |
| One person | $3,693 | $40,859 |
| Family of two | $6,372 | $69,382 |
| Family of three | $7,189 | $79,163 |
3 more rowsNov 14, 2023
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 ...
Is $17 an hour a livable wage? ›
“The minimum wage, in almost every location in the United States does not cover a living wage,” Glasmeier said. She said even the highest minimum wage, $17 an hour, doesn't cut it. A livable wage, nationwide, would be closer to $25 an hour, according to her research.
Is $15 an hour a livable wage? ›
A true living wage that supports a basic standard of living without food and housing insecurity would be between $20 and $26 or more per hour, depending on the state.
What is a comfortable income? ›
To live “comfortably” as a single person in 99 of the largest U.S. metro areas, you'll need a median income of $93,933, according to a recent SmartAsset analysis.
What state can you live comfortably in? ›
Massachusetts. Massachusetts frequently ranks among the best states to live in, especially for families, but the price of entry is steep. The living wage for an individual is $19.91 an hour, or $41,416 a year.
What is the average middle class salary in 2024? ›
What is the average middle class income? In 2024, a large U.S. city's middle-class income averages between $52,000 and $155,000, with the median household income across all 345 cities at $77,345, making middle-class income limits fall between $51,558 and $154,590, SmartAsset noted.
What is the 50 30 20 rule? ›
The 50/30/20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should be split between savings and debt repayment (20%) and everything else that you might want (30%).
