The salary required to "get by" is vastly different depending on which state you live in. In some states, you can make less than $50,000 a year and be just fine. In others, you need to make more than $100,000.
What To Know: A single workers' median income in the U.S. is $57,200 — a salary that will keep you afloat in just 30 states, according to CNBC.
Depending on where you live, you may have to make some sacrifices to get by. A lot of it has to do with housing. The overall median home price in the U.S. is $410,200, well above average income.
And single people often pay much more than married couples, who are able to split housing costs.
Home prices also vary greatly depending on location. In the Midwest, $366,600 is the median home price. In the South, it's $311,800, while on the coast and around big cities, prices are much higher.
Despite the recent pullback, real estate in the U.S. has trended higher long term, as seen in the IShares U.S. Real Estate ETF IYR.
CNBC compiled data from GOBankingRates.com, which shows what a single person needs to make per year to "get by" in each state. Benzinga ordered the data from lowest to highest. Here's a look at the results.
- Mississippi: $45,906
- Oklahoma: $46,024
- Alabama: $46,577
- Arkansas: $47,111
- Kentucky: $47,318
- Kansas: $47,379
- West Virginia: $47,732
- Missouri: $47,771
- Iowa: $48,518
- Tennessee: $48,774
- Nebraska: $49,009
- Georgia: $49,051
- Illinois: $49,372
- Wyoming: $49,666
- Indiana: $49,855
- Michigan: $50,049
- Louisiana: $50,087
- Ohio: $50,157
- Texas: $50,497
- New Mexico: $51,214
- Minnesota: $51,668
- South Dakota: $52,095
- South Carolina: $52,222
- North Dakota: $52,807
- Wisconsin: $53,122
- North Carolina: $53,531
- Pennsylvania: $53,838
- Utah: $55,293
- Delaware: $56,571
- Montana: $57,056
- Florida: $57,064
- Virginia: $57,293
- Nevada: $58,580
- Idaho: $58,634
- Colorado: $59,218
- Rhode Island: $59,936
- Arizona: $60,026
- Maine: $60,862
- New Hampshire: $62,935
- Connecticut: $63,078
- New Jersey: $64,463
- Washington: $65,640
- Oregon: $65,763
- Vermont: $65,923
- Maryland: $67,915
- Alaska: $71,570
- New York: $73,226
- California: $80,013
- Massachusetts: $87,909
- Hawaii: $112,411
This illustration was generated using artificial intelligence via MidJourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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