The salary a single person needs to live comfortably in 25 major U.S. cities (2024)

FAQs

What is a comfortable salary for one person in the US? ›

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.

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.

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.

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.

Yes. Obviously 150k is enough to live comfortably anywhere in the United States. Unless you've got an absurdly entitled definition of “comfortable.”

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

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.

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 data used in the study analyzed the cost of living in each city as of 2022. For California cities like Los Angeles, Berkeley and San Diego, a single person must make more than $76,000 to “live comfortably,” the data shows.

This means the value of money today is not the same as it will be in the future. To account for this, experts suggest you multiply your desired retirement income by 25 times. So if you want to retire on $20,000 a year, you would need $500,000 saved to live comfortably and never have to work again.

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 ...

If you make $25 an hour, your yearly salary would be $52,000.

While $70,000 is higher than average U.S. salary, it may be difficult to live well on this salary in certain parts of the country where the cost of living is high or if you're supporting a family. Here's a closer look at whether or not earning $70,000 is a good salary and what factors influence this.

A salary of $75,000 can certainly help you build wealth and achieve financial success, but whether it will make you “rich” depends on various factors, including your financial goals, lifestyle choices, expenses, and savings/investment strategies.