To live in a major U.S. city on average an individual needs to make $96,500, according to a new study by SmartAsset.
Houston is the best choice.
Here are the findings:
Key Findings
- On average, an individual needs $96,500 for sustainable comfort in a major U.S. city. This includes being able to pay off debt and invest for the future. It’s even more expensive for families, who need to make an average combined income of about $235,000 to support two adults and two children without the pressure of living paycheck to paycheck.
- A family must make over $300k to raise two kids comfortably in six cities. Two working adults need to make a particularly high combined income in San Francisco ($339,123); San Jose ($334,547); Boston ($319,738); Arlington, VA ($318,573); New York City ($318,406); and Oakland, CA ($316,243) to raise two children with enough money for needs, wants and savings.
- It takes the most money to live comfortably as a single person in New York City. This breaks down to $66.62 in hourly wages, or an annual salary of $138,570. To cover necessities as a single person in New York City, you’ll need an estimated $70,000 in wages.
To read the while study, go here.
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