Across the country, the cost of housing, rent, gasoline, utilities, and, well, almost everything has risen.
A new survey has revealed how much someone needs to earn as a “living wage” in each of the 50 states to live comfortably.
The personal finance website GoBankingRates.com examined data from the United States. The Bureau of Labor Statistics and the state of Missouri conducted research to estimate how much single people, not couples or families, pay in needs each year. The sums were then quadrupled to account for discretionary expenditure and savings.
Hawaii ($112,411) has the highest living wage requirement for persons, followed by Massachusetts ($87,909) and California ($80,013).
According to the California Association of Realtors, the median price of a single-family home in California was $832,340 in August. Condominiums and townhomes average $645,000. Median rent is $2,912 per month.
Hawaii has a median home price of $713,000 and Massachusetts is $640,000. If you want to live cheaply, head to Mississippi ($45,906), Oklahoma ($46,024) and Alabama ($46,577).
RANK | STATE | INCOME REQUIRED |
1 | Mississippi | $45,906 |
2 | Oklahoma | $46,024 |
3 | Alabama | $46,577 |
4 | Arkansas | $47,111 |
5 | Kentucky | $47,318 |
6 | Kansas | $47,379 |
7 | West Virginia | $47,732 |
8 | Missouri | $47,771 |
9 | Iowa | $48,518 |
12 | Tennessee | $48,774 |
11 | Nebraska | $49,009 |
10 | Georgia | $49,051 |
13 | Illinois | $49,372 |
14 | Wyoming | $49,666 |
15 | Indiana | $49,855 |
17 | Michigan | $50,049 |
16 | Louisiana | $50,087 |
18 | Ohio | $50,157 |
19 | Texas | $50,497 |
20 | New Mexico | $51,214 |
21 | Minnesota | $51,668 |
22 | South Dakota | $52,095 |
23 | South Carolina | $52,222 |
24 | North Dakota | $52,807 |
25 | Wisconsin | $53,122 |
26 | North Carolina | $53,531 |
27 | Pennsylvania | $53,838 |
28 | Utah | $55,293 |
29 | Delaware | $56,571 |
31 | Montana | $57,056 |
30 | Florida | $57,064 |
32 | Virginia | $57,293 |
34 | Nevada | $58,580 |
33 | Idaho | $58,634 |
35 | Colorado | $59,218 |
36 | Rhode Island | $59,936 |
37 | Arizona | $60,026 |
38 | Maine | $60,862 |
39 | New Hampshire | $62,935 |
40 | Connecticut | $63,078 |
41 | New Jersey | $64,463 |
42 | Washington | $65,640 |
43 | Oregon | $65,763 |
44 | Vermont | $65,923 |
45 | Maryland | $67,915 |
46 | Alaska | $71,570 |
47 | New York | $73,226 |
48 | California | $80,013 |
49 | Massachusetts | $87,909 |
50 | Hawaii | $112,411 |
gobankingrates.com
Americans are feeling less confident financially as summer comes to an end and rising prices and interest rates weigh on people’s willingness to spend. The Conference Board, a business research organization, reported that its consumer confidence index fell to 106.1 in August from 114 in July.