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How Much Money You'd Need To Make To Live Comfortably In The Biggest Cities Of The USA (50 pics)

Posted in Random » Interesting   20 Apr 2016   / 4338 views

The list counts 50 cities in order of population from smallest to largest.

 

Bakersfield, CA: $43,425

Income needed: $43,425

50 percent for necessities: $21,713

30 percent for discretionary spending: $13,028

20 percent for savings: $8,685

Based on the median household income of $56,842, Bakersfield, residents have an extra $13,416 more each year than what is needed to live comfortably.

Arlington, TX: $46,904

Income needed: $46,904

50 percent for necessities: $23,452

30 percent for discretionary spending: $14,071

20 percent for savings: $9,381

Arlington has a local median income of $53,055, which is $6,151 more than the income needed to live comfortably in this city.

New Orleans, LA: $60,782

Income needed: $60,782

50 percent for necessities: $30,391

30 percent for discretionary spending: $18,235

20 percent for savings: $12,156

The median household income in New Orleans is just $36,964, which is not much compared to the city's high cost of living. That income falls $23,818 short of the income needed to live well in The Big Easy.

Wichita, KS: $40,616

Income needed: $40,616

50 percent for necessities: $20,308

30 percent for discretionary spending: $12,185

20 percent for savings: $8,123

The median income for a Wichita household is $45,907, which is enough to live well and have an extra $5,291 annually.

Cleveland, OH: $42,589

Income needed: $42,589

50 percent for necessities: $21,295

30 percent for discretionary spending: $12,777

20 percent for savings: $8,518

Cleveland offers low livingcosts but also has one of the lowest median household incomes among big cities at $26,179, which falls $16,410 short of the amount needed to live well in Cleveland.

Minneapolis, MN: $64,170

Income needed: $64,170

50 percent for necessities: $32,085

30 percent for discretionary spending: $19,251

20 percent for savings: $12,834

Minneapolis residents' median household income of $50,767 is decent but is still $13,403 less than the total annual income needed to live comfortably in this half of the Twin Cities.

Miami, FL: $77,057

Income needed: $77,057

50 percent for necessities: $38,529

30 percent for discretionary spending: $23,117

20 percent for savings: $15,411

The Miami median income of $30,858 is less than half, or $46,199 short, of the amount needed to live well in this city — the biggest gap between actual and ideal incomes of any major city in this study.

Raleigh, NC: $55,537

Income needed: $55,537

50 percent for necessities: $27,769

30 percent for discretionary spending: $16,661

20 percent for savings: $11,107

Based on Raleigh's median income of $54,581, locals actually earn incomes on par with what is needed to live comfortably. They are short just $80 each month ($956 a year).

Colorado Springs, CO: $44,512

Income needed: $44,512

50 percent for necessities: $22,256

30 percent for discretionary spending: $13,354

20 percent for savings: $8,902

Colorado Springs' median household income is $54,228, which allows locals to more than live comfortably with an extra $9,716 a year.

Omaha, NE: $45,560

Income needed: $45,560

50 percent for necessities: $22,780

30 percent for discretionary spending: $13,668

20 percent for savings: $9,112

Most residents of Omaha can live comfortably on the median household income of $48,751, which is $3,191 more than the income needed to cover needs, wants and savings.

Virginia Beach, VA: $50,929

Income needed: $50,929

50 percent for necessities: $25,465

30 percent for discretionary spending: $15,279

20 percent for savings: $10,186

Low costs of living make it easy to live on Virginia Beach's median income of $67,001. This amount is $16,072 more than what is needed to live comfortably — the equivalent of an extra $1,340 a month — which is the biggest surplus of any major U.S. city in this study.

Atlanta: $60,285

Income needed: $60,285

50 percent for necessities: $30,143

30 percent for discretionary spending: $18,086

20 percent for savings: $12,057

With a median household income of $46,439 in Atlanta, workers in this city have $13,846 less than they need each year to live well.

Mesa, AZ: $42,654

Income needed: $42,654

50 percent for necessities: $21,327

30 percent for discretionary spending: $12,796

20 percent for savings: $8,531

Mesa residents earning the local median income of $48,259 have an extra $5,605 a year.

Kansas City, MO: $45,311

Income needed: $45,311

50 percent for necessities: $22,656

30 percent for discretionary spending: $13,593

20 percent for savings: $9,062

The income needed to live well in Kansas City is on par with the city's median income of $45,376, with about $65 extra in locals' wallets.

Long Beach, CA: $58,560

Income needed: $58,560

50 percent for necessities: $29,280

30 percent for discretionary spending: $17,568

20 percent for savings: $11,712

Long Beach residents need to earn $5,616 more a year than the $52,944 median income to live comfortably in the city.

Sacramento, CA: $53,736 

Income needed: $53,736

50 percent for necessities: $26,868

30 percent for discretionary spending: $16,121

20 percent for savings: $10,747

The median income in Sacramento, $50,013, is just $3,723 short of the amount needed to afford living comfortably in the city.

Fresno, CA: $42,496

Income needed: $42,496

50 percent for necessities: $21,248

30 percent for discretionary spending: $12,749

20 percent for savings: $8,499

Fresno's $41,455 median income is just $1,041 short of the income needed to live well in this city.

Tucson, AZ: $39,966

Income needed: $39,966

50 percent for necessities: $19,983

30 percent for discretionary spending: $11,990

20 percent for savings: $7,993

With the lowest total needed to cover necessities out of the 50 biggest U.S. cities, Tucson residents can likely make do on the $37,149 median income, which is just $2,817 short of the amount needed to live well there.

Albuquerque, NM: $43,895 

Income needed: $43,895

50 percent for necessities: $21,947

30 percent for discretionary spending: $13,168

20 percent for savings: $8,779

The median income in Albuquerque is $47,413, which gives residents almost $300 extra a month ($3,518 a year) beyond the amount needed to comfortably follow a 50-30-20 budget.

Milwaukee, WI: $43,281 

Income needed: $43,281

50 percent for necessities: $21,641

30 percent for discretionary spending: $12,984

20 percent for savings: $8,656

Milwaukee households earn a median $35,489 annual income, which is $7,792 less than what's needed to live comfortably in this city.

Louisville, KY: $46,831

Income needed: $46,831

50 percent for necessities: $23,415

30 percent for discretionary spending: $14,049

20 percent for savings: $9,366

Falling $2,025 short of the amount needed to live well in Louisville, the median income of $44,806 puts locals slightly behind financially.

Las Vegas, NV: $50,453

Income needed: $50,453

50 percent for necessities: $25,227

30 percent for discretionary spending: $15,136

20 percent for savings: $10,091

Las Vegas residents earn a median income of $50,903, which is $450 more than the amount needed to live well there, showing this city offers earning opportunities that match local living costs.

Portland, OR: $60,195

Income needed: $60,195

50 percent for necessities: $30,097

30 percent for discretionary spending: $18,058

20 percent for savings: $12,039

Based on the Portland median household income of $53,230, residents' earnings fall $6,965 short each year of what's needed to live comfortably.

Oklahoma City, OK: $44,180

Income needed: $44,180

50 percent for necessities: $22,090

30 percent for discretionary spending: $13,254

20 percent for savings: $8,836

Oklahoma City has a median income of $47,004, which results in a $2,824 cushion beyond the amount needed to live comfortably.

Baltimore, MD: $53,897 

Income needed: $53,897

50 percent for necessities: $26,949

30 percent for discretionary spending: $16,169

20 percent for savings: $10,779

The median household income in Baltimore is $41,819, but the city's high cost of living requires $12,078 more than that for a person to live comfortably according to a 50-30-20 budget.

Nashville, TN: $61,015

Income needed: $61,015

50 percent for necessities: $30,508

30 percent for discretionary spending: $18,305

20 percent for savings: $12,203

The typical Nashville household earns the median income of $46,758, which is $14,257 less than the amount needed to live comfortably in Music City.

Boston, MA: $84,422

Income needed: $84,422

50 percent for necessities: $42,211

30 percent for discretionary spending: $25,327

20 percent for savings: $16,884

Boston's high cost of living isn't easy to cover on the typical local income. The city's $54,485 median income falls $29,937 short of the amount needed to live comfortably there.

Memphis, TN: $44,180 

Income needed: $44,180

50 percent for necessities: $22,090

30 percent for discretionary spending: $13,254

20 percent for savings: $8,836

Memphis has a median income of $37,099, which is $7,081 less than the total annual income a resident of the city needs to earn to be financially comfortable.

Washington, DC: $83,104

Income needed: $83,104

50 percent for necessities: $41,552

30 percent for discretionary spending: $24,931

20 percent for savings: $16,621

Based on the District's median income of $69,235, locals' earnings are $13,869 below the amount needed to live well in the nation's capital, a deficit of $1,156 a month.

Denver, CO: $62,842

Income needed: $62,842

50 percent for necessities: $31,421

30 percent for discretionary spending: $18,853

20 percent for savings: $12,568

Denver's median household income of $51,800 is $11,042 behind the amount needed to live comfortably, which means many Denver residents could struggle financially without sticking to a tight budget.

Seattle, WA: $72,092

Income needed: $72,092

50 percent for necessities: $36,046

30 percent for discretionary spending: $21,628

20 percent for savings: $14,418

Residents of Seattle earn a median household income of $67,365, which is $4,727 less less than the income needed to cover necessities, savings and additional expenses.

El Paso, TX: $40,227

Income needed: $40,227

50 percent for necessities: $20,113

30 percent for discretionary spending: $12,068

20 percent for savings: $8,045

Low costs of living make it easier for El Paso residents to make ends meet with the $42,037 median income, which is $1,810 more than the income needed to follow a 50-30-20 budget in the city.

Detroit, MI: $42,772

Income needed: $42,772

50 percent for necessities: $21,386

30 percent for discretionary spending: $12,832

20 percent for savings: $8,554

Detroit has the lowest median income of the 50 cities on this list at $26,095, which results in a gap of $16,677 between actual income and the amount needed to live well in this city.

Charlotte, NC: $53,842 

Income needed: $53,842

50 percent for necessities: $26,921

30 percent for discretionary spending: $16,152

20 percent for savings: $10,768

Most Charlotte locals can live well on the median household income of $53,274, which is only $568 short of the amount needed to be financially comfortable in this city.

Fort Worth, TX: $51,759

Income needed: $51,759

50 percent for necessities: $25,879

30 percent for discretionary spending: $15,528

20 percent for savings: $10,352

Fort Worth is another city where the median income, $52,492, is close to the ideal income needed to live well in the city — just $733 a year short.

Columbus, OH: $45,466

Income needed: $45,466

50 percent for necessities: $22,733

30 percent for discretionary spending: $13,640

20 percent for savings: $9,093

Columbus residents earning the local median income of $44,774 are only $692 short of the annual amount needed to comfortably cover needs, wants and savings.

Indianapolis, IN: $46,016

Income needed: $46,016

50 percent for necessities: $23,008

30 percent for discretionary spending: $13,805

20 percent for savings: $9,203

The median income in Indianapolis — $42,076 — is $3,940 less than the salary needed to comfortably afford living in the city.

San Francisco, CA: $119,570

Income needed: $119,570

50 percent for necessities: $59,785

30 percent for discretionary spending: $35,871

20 percent for savings: $23,914

San Francisco residents face one of the of the biggest gaps between their actual incomes and ideal incomes needed to live in the city, with the $78,378 median income falling $41,192 short of the income needed to follow the 50-30-20 budget.

Jacksonville, FL: $49,842 

Income needed: $49,842

50 percent for necessities: $24,921

30 percent for discretionary spending: $14,953

20 percent for savings: $9,969

Falling $3,074 short of the amount needed to live comfortably, the Jacksonville median income of $46,768 means locals' budgets can get a little tight.

Austin, TX: $53,225 

Income needed: $53,225

50 percent for necessities: $26,612

30 percent for discretionary spending: $15,967

20 percent for savings: $10,645

Most residents of Austin can live comfortably on the city's median income, which at $55,216 is $1,991 above the salary needed to follow the 50-30-20 rule.

San Jose, CA: $89,734

Income needed: $89,734

50 percent for necessities: $44,867

30 percent for discretionary spending: $26,920

20 percent for savings: $17,947

With a high cost of living, San Jose's median income of $83,787 is $5,947 less than the amount needed to live comfortably.

Dallas, TX: $55,651

Income needed: $55,651

50 percent for necessities: $27,826

30 percent for discretionary spending: $16,695

20 percent for savings: $11,130

The median income in Dallas — $43,359 — is a substantial $12,292 less than the ideal income needed to live comfortably there.

San Diego, CA: $69,307

Income needed: $69,307

50 percent for necessities: $34,654

30 percent for discretionary spending: $20,792

20 percent for savings: $13,861

San Diego residents earn a median of $65,753, which is $3,554 less than what they need to earn to comfortably manage their finances with a 50-30-20 budget.

San Antonio, TX: $46,238

Income needed: $46,238

50 percent for necessities: $23,119

30 percent for discretionary spending: $13,872

20 percent for savings: $9,248

With a median household income of $46,317 in San Antonio, residents make $79 extra a year above the ideal salary to live well in this city. Such a small difference indicates that San Antonio's earning opportunities are well-matched to the city's cost of living.

Phoenix, AZ: $48,876

Income needed: $48,876

50 percent for necessities: $24,438

30 percent for discretionary spending: $14,663

20 percent for savings: $9,775

Phoenix has a local median income of $46,881, which is just $1,995 less than the income needed to live comfortably in the city.

Philadelphia, PA: $59,384

Income needed: $59,384

50 percent for necessities: $29,692

30 percent for discretionary spending: $17,815

20 percent for savings: $11,877

The typical Philadelphia household earns an income of $37,460, which falls $21,924 short of the ideal income required to match the city's high cost of living.

Houston, TX: $60,795

Income needed: $60,795

50 percent for necessities: $30,397

30 percent for discretionary spending: $18,238

20 percent for savings: $12,159

The median household income in Houston is just $45,728, which is not enough to match the high cost of living in the city, resulting in a gap of $15,067 between the median income and the ideal income to live comfortably.

Chicago, IL: $68,671

Income needed: $68,671

50 percent for necessities: $34,335

30 percent for discretionary spending: $20,601

20 percent for savings: $13,734

Chicago's median household income of $47,831 covers necessities but puts residents' earnings $20,840 behind the income needed to comfortably cover needs, wants and savings in the Windy City.

Los Angeles, CA: $74,371

Income needed: $74,371

50 percent for necessities: $37,185

30 percent for discretionary spending: $22,311

20 percent for savings: $14,874

Los Angeles residents face high costs of living, which means living comfortably requires a higher income — $24,689 higher than the city's median income of $49,682.

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.






Tags: money, living, usa, cities  

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