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*The cost of living is notoriously high in the US — but it can vary widely by state.
*GoBankingRates determined the "living wage" necessary to live comfortably in each US state late last year.
*Some states, like New York, require $95,724 to live comfortably, but in other states, it can be as low as $58,321.
Living paycheck to paycheck is an unfortunately common hallmark of American life. And that's more evident than ever now, amid the coronavirus pandemic.
Many are reconsidering their living situations as the US faces a recession: Earlier last year, over 51 million people filed for unemployment in just a 17-week period. For context, the Great Recession eliminated 37 million jobs over 18 months.
Having it all — the ability to cover basic expenses, while still having "fun money" and contributing to savings — currently seems like an impossible feat.
That total amount, also known as the minimum annual "living wage," varies significantly depending on what state you're in.
In December, GoBankingRates determined the necessary living wage in each state using data from the Bureau of Labor Statistics and the 50/30/20 budgeting rule. This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings.
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437. Other expensive states (unsurprisingly) included New York and California, which have notoriously high costs of living and expensive housing markets.
Keep reading to see the annual wage necessary for living comfortably in every US state, listed in alphabetical order by state name. Also included is the actual median household income in each state, according to 2019 data from the US Census Bureau and the median price of homes listed for sale in each state from Zillow.
1). The living wage in Alabama is $60,016.
Median household income in 2019: $51,734
Median price of homes currently listed: $220,000
2). The living wage in Alaska is $91,996.
Median household income in 2019: $75,463
Median price of homes currently listed: $296,646
3). The living wage in Arizona is $68,504.
Median household income in 2019: $62,055
Median price of homes currently listed: $303,230
4). The living wage in Arkansas is $59,641.
Median household income in 2019: $48,952
Median price of homes currently listed: $140,986
5). The living wage in California is $99,971.
Median household income in 2019: $80,440
Median price of homes currently listed: $609,757
6). The living wage in Colorado is $74,215.
Median household income in 2019: $77,127
Median price of homes currently listed: $431,100
7). The living wage in Connecticut is $90,278.
Median household income in 2019: $78,833
Median price of homes currently listed: $281,924
8). The living wage in Delaware is $71,254.
Median household income in 2019: $70,176
Median price of homes currently listed: $277,979
9). The living wage in Florida is $67,614.
Median household income in 2019: $59,227
Median price of homes currently listed: $264,149
10). The living wage in Georgia is $62,074.
Median household income in 2019: $61,980
Median price of homes currently listed: $218,609
11). The living wage in Hawaii is $136,437.
Median household income in 2019: $83,102
Median price of homes currently listed: $667,005
12). The living wage in Idaho is $66,486.
Median household income in 2019: $60,999
Median price of homes currently listed: $331,126
13). The living wage in Illinois is $66,847.
Median household income in 2019: $69,187
Median price of homes currently listed: $217,105
14). The living wage in Indiana is $62,086.
Median household income in 2019: $57,603
Median price of homes currently listed: $169,156
15). The living wage in Iowa is $63,397.
Median household income in 2019: $61,691
Median price of homes currently listed: $157,308
16). The living wage in Kansas is $62,090.
Median household income in 2019: $62,087
Median price of homes currently listed: $164,336
17). The living wage in Kentucky is $63,086.
Median household income in 2019: $52,295
Median price of homes currently listed: $156,926
18). The living wage in Louisiana is $63,842.
Median household income in 2019: $51,073
Median price of homes currently listed: $177,548
19). The living wage in Maine is $80,336.
Median household income in 2019: $58,924
Median price of homes currently listed: $269,753
20). The living wage in Maryland is $92,227.
Median household income in 2019: $86,738
Median price of homes currently listed: $335,260
21). The living wage in Massachusetts is $93,895.
Median household income in 2019: $85,843
Median price of homes currently listed: $464,279
22). The living wage in Michigan is $67,712.
Median household income in 2019: $59,584
Median price of homes currently listed: $187,747
23). The living wage in Minnesota is $68,944.
Median household income in 2019: $74,593
Median price of homes currently listed: $277,276
24). The living wage in Mississippi is $58,321.
Median household income in 2019: $45,792
Median price of homes currently listed: $131,973
25). The living wage in Missouri is $60,858.
Median household income in 2019: $57,409
Median price of homes currently listed: $176,609
26). The living wage in Montana is $70,719.
Median household income in 2019: $57,153
Median price of homes currently listed: $313,261
27). The living wage in Nebraska is $65,162.
Median household income in 2018: $63,229
Median price of homes currently listed: $189,139
28). The living wage in Nevada is $75,902.
Median household income in 2019: $63,276
Median price of homes currently listed: $327,714
29). The living wage in New Hampshire is $74,415.
Median household income in 2019: $77,933
Median price of homes currently listed: $321,496
30). The living wage in New Jersey is $86,244.
Median household income in 2019: $85,751
Median price of homes currently listed: $367,103
31). The living wage in New Mexico is $63,629.
Median household income in 2019: $51,945
Median price of homes currently listed: $224,374
32). The living wage in New York is $95,724.
Median household income in 2019: $72,108
Median price of homes currently listed: $343,164
33). The living wage in North Carolina is $64,406.
Median household income in 2018: $57,341
Median price of homes currently listed: $220,710
34). The living wage in North Dakota is $69,085.
Median household income in 2019: $64,577
Median price of homes currently listed: $236,012
35). The living wage in Ohio is $63,204.
Median household income in 2018: $58,642
Median price of homes currently listed: $164,968
36). The living wage in Oklahoma is $60,318.
Median household income in 2019: $54,449
Median price of homes currently listed: $139,409
37). The living wage in Oregon is $93,285.
Median household income in 2019: $67,058
Median price of homes currently listed: $393,710
38). The living wage in Pennsylvania is $68,581.
Median household income in 2018: $63,463
Median price of homes currently listed: $211,287
39). The living wage in Rhode Island is $83,942.
Median household income in 2019: $71,169
Median price of homes currently listed:$331,458
40). The living wage in South Carolina is $65,953.
Median household income in 2019: $56,227
Median price of homes currently listed: $203,328
41). The living wage in South Dakota is $67,657.
Median household income in 2019: $59,533
Median price of homes currently listed: $222,435
42). The living wage in Tennessee is $60,682.
Median household income in 2019: $56,071
Median price of homes currently listed: $203,134
43). The living wage in Texas is $63,469.
Median household income in 2019: $64,034
Median price of homes currently listed: $220,034
44). The living wage in Utah is $67,807.
Median household income in 2019: $75,780
Median price of homes currently listed: $386,723
45). The living wage in Vermont is $83,878.
Median household income in 2019: $63,001
Median price of homes currently listed: $273,024
46). The living wage in Virginia is $69,886.
Median household income in 2019: $76,456
Median price of homes currently listed: $302,369
47). The living wage in Washington is $77,207.
Median household income in 2019: $78,687
Median price of homes currently listed: $458,313
48). The living wage in West Virginia is $62,635.
Median household income in 2019: $48,850
Median price of homes currently listed: $110,544
49). The living wage in Wisconsin is $67,667.
Median household income in 2019: $64,168
Median price of homes currently listed: $207,018
The living wage in Wyoming is $61,788.
50). Median household income in 2019: $65,003
Median price of homes currently listed: $258,280
Source: Taylor Borden and Dominic-Madori Davis/Businessinsider.com
Date Posted: Wednesday, March 10th, 2021 , Total Page Views: 1276
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