New York, NY: $87,446

Income needed: $87,446

50 percent for necessities: $43,723

30 percent for discretionary spending: $26,234

20 percent for savings: $17,489

The country's most populous city also has some of the highest living costs, which means much of the $52,737 median household income covers necessities only. Based on a 50-30-20 budget, the median income in New York is $34,709 less than the amount needed to sufficiently cover needs, wants and savings.