In which states does it cost the most to live “comfortably” as a single person? What about the least?
Visual Capitalist, using data from SmartAsset, calculated the amounts using the budgeting rule of 50/30/20. (The needs/wants/savings budget guideline refers to using 50% of earnings to cover necessities, 30% for discretionary spending, and 20% for savings or other financial goals.)
The data showed that a single person requires more than $100,000 in pre-tax income to live in 23 states in the U.S. The definition of “comfortable” for this study means: “income must cover basic needs while still leaving room for discretionary spending and saving money, rather than simply meeting essential expenses,” Visual Capitalist said.
“Hawaii requires the highest income at $129,002, while West Virginia has the lowest threshold at $81,245,” Visual Capitalist said.
The top 10 and bottom 10 are listed below. To see the full list, click here.
Top 10
1. Hawaii, $129,002
2. Massachusetts, $127,213
3. California, $126,797
4. New York, $124,342
5. New Jersey, $113,776
6. Washington, $110,614
7. Oregon, $110,074
8. Connecticut, $108,368
9. Colorado, $108,160
10. Maryland, $107,910
Bottom 10
41. Alabama, $87,610
42. Ohio, $87,360
43. Oklahoma, $86,237
44. Mississippi, $86,070
45. North Dakota, $85,738
46. South Dakota, $85,405
47. Louisiana, $84,739
48. Kentucky, $84,074
49. Arkansas, $83,242
50. West Virginia, $81,245
Photo credit: Andranik.H90/Freepik
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