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Businessinsider - 30 days ago

Here s the income you need to live comfortably in every state in the US

The cost of living is notoriously high in the US but it can vary widely from state to state. GoBankingRates recently released a report determining the living wage necessary to live comfortably in each US state. Some states, like New York, require an annual income of $95,724 to live comfortably. But the living wage for other states, like Mississippi, can be as low as $58,321. Visit Business Insider s homepage for more stories. Living paycheck to paycheck is an unfortunately common hallmark of American life. Having it all the ability to cover basic expenses, while still having fun money and contributing to savings can be a difficult feat. That total amount also known as an annual living wage varies significantly depending on what state you re in. GoBankingRates recently 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 what the annual living wage necessary is to live 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 2018 data from the US Census Bureau and the median price of homes listed for sale in each state from Zillow.SEE ALSO: Forget New York — millennials are better off in these 30 US cities, where they re paid well and can afford to buy a home DON T MISS: The top 10 ZIP codes where America s wealthiest millennials live, ranked The living wage in Alabama is $60,016. Median household income in 2018: $61,584 Median price of homes currently listed: $219,900

The living wage in Alaska is $91,996. Median household income in 2018: $74,346 Median price of homes currently listed: $288,000

The living wage in Arizona is $68,504. Median household income in 2018: $59,246 Median price of homes currently listed: $295,000

The living wage in Arkansas is $59,641. Median household income in 2018: $47,062 Median price of homes currently listed: $178,500

The living wage in California is $99,971. Median household income in 2018: $75,277 Median price of homes currently listed: $549,000

The living wage in Colorado in $74,215. Median household income in 2018: $71,953 Median price of homes currently listed: $427,300

The living wage in Connecticut is $90,278. Median household income in 2018: $76,348 Median price of homes currently listed: $324,900

The living wage in Delaware is $71,254. Median household income in 2018: $64,805 Median price of homes currently listed: $300,000

The living wage in Florida is $67,614. Median household income in 2018: $55,462 Median price of homes currently listed: $296,000

The living wage in Georgia is $62,074. Median household income in 2018: $58,756 Median price of homes currently listed: $260,000

The living wage in Hawaii is $136,437. Median household income in 2018: $80,212 Median price of homes currently listed: $630,000

The living wage in Idaho is $66,486. Median household income in 2018: $55,583 Median price of homes currently listed: $334,900

The living wage in Illinois is $66,847. Median household income in 2018: $65,030 Median price of homes currently listed: $235,950

The living wage in Indiana is $62,086. Median household income in 2018: $55,746 Median price of homes currently listed: $189,900

The living wage in Iowa is $63,397. Median household income in 2018: $59,955 Median price of homes currently listed: $175,000

The living wage in Kansas is $62,090. Median household income in 2018: $58,218 Median price of homes currently listed: $190,000

The living wage in Kentucky is $63,086. Median household income in 2018: $50,247 Median price of homes currently listed: $195,000

The living wage in Louisiana is $63,842. Median household income in 2018: $58,218 Median price of homes currently listed: $190,000

The living wage in Maine is $80,336. Median household income in 2018: $55,602 Median price of homes currently listed: $250,000

The living wage in Maryland is $92,227. Median household income in 2018: $83,242 Median price of homes currently listed: $325,000

The living wage in Massachusetts is $93,895. Median household income in 2018: $79,835 Median price of homes currently listed: $468,500

The living wage in Michigan is $67,712. Median household income in 2018: $56,697 Median price of homes currently listed: $189,000

The living wage in Minnesota is $68,944. Median household income in 2018: $70,315 Median price of homes currently listed: $274,900

The living wage in Mississippi is $58,321. Median household income in 2018: $44,717 Median price of homes currently listed: $188,000

The living wage in Missouri is $60,858. Median household income in 2018: $54,478 Median price of homes currently listed: $189,900

The living wage in Montana is $70,719. Median household income in 2018: $55,328 Median price of homes currently listed: $325,000

The living wage in Nebraska is $65,162. Median household income in 2018: $59,566 Median price of homes currently listed: $212,000

The living wage in Nevada is $75,902. Median household income in 2018: $58,646 Median price of homes currently listed: $324,900

The living wage in New Hampshire is $74,415. Median household income in 2018: $74,991 Median price of homes currently listed: $304,900

The living wage in New Jersey is $86,244. Median household income in 2018: $81,740 Median price of homes currently listed: $345,000

The living wage in New Mexico is $63,629. Median household income in 2018: $47,169 Median price of homes currently listed: $240,000

The living wage in New York is $95,724. Median household income in 2018: $67,844 Median price of homes currently listed: $399,900

The living wage in North Carolina is $64,406. Median household income in 2018: $53,855 Median price of homes currently listed: $274,900

The living wage in North Dakota is $69,085. Median household income in 2018: $63,837 Median price of homes currently listed: $223,900

The living wage in Ohio is $63,204. Median household income in 2018: $56,111 Median price of homes currently listed: $176,900

The living wage in Oklahoma is $60,318. Median household income in 2018: $51,924 Median price of homes currently listed: $190,000

The living wage in Oregon is $93,285. Median household income in 2018: $63,426 Median price of homes currently listed: $388,000

The living wage in Pennsylvania is $68,581. Median household income in 2018: $60,905 Median price of homes currently listed: $216,995

The living wage in Rhode Island is $83,942. Median household income in 2018: $64,340 Median price of homes currently listed: $324,000

The living wage in South Carolina is $65,953. Median household income in 2018: $52,306 Median price of homes currently listed: $249,500

The living wage in South Dakota is $67,657. Median household income in 2018: $56,274 Median price of homes currently listed: $225,000

The living wage in Tennessee is $60,682. Median household income in 2018: $52,375 Median price of homes currently listed: $255,900

The living wage in Texas is $63,469. Median household income in 2018: $60,629 Median price of homes currently listed: $279,000

The living wage in Utah is $67,807. Median household income in 2018: $71,414 Median price of homes currently listed: $367,400

The living wage in Vermont is $83,878. Median household income in 2018: $60,782 Median price of homes currently listed: $275,000

The living wage in Virginia is $69,886. Median household income in 2018: $72,577 Median price of homes currently listed: $310,325

The living wage in Washington is $77,207. Median household income in 2018: $74,073 Median price of homes currently listed: $419,900

The living wage in West Virginia is $62,635. Median household income in 2018: $44,097 Median price of homes currently listed: $165,700

The living wage in Wisconsin is $67,667. Median household income in 2018: $60,773 Median price of homes currently listed: $219,900

The living wage in Wyoming is $61,788. Median household income in 2018: $61,584 Median price of homes currently listed: $264,900



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