Consult This Living Wage Calculator To See How Much A Single Person Needs To Earn To Live In Your State
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Do you feel as though you’re barely getting by, even though you earn a decent salary?
If you’re feeling poor even with a paycheck being deposited into your checking account every few weeks, the issue could be your geographic area.
Since the cost of housing, food, gas, insurance, and necessities fluctuates from state to state, earning enough money to survive looks remarkably different across the country.
To get a better idea of how far your dollar goes where you live, MIT created this Living Wage Calculator, which estimates the minimum income necessary for a single person to cover living expenses – and stay above the poverty line without outside help – across the United States.
The Living Wage Calculator considers several factors like the cost of food, health care, homes, rent, transportation, and necessities such as personal care, clothing, and housekeeping supplies. The calculator also considers the minimum wage in each state and analyzes annual changes in consumer spending patterns.
“The calculator’s estimates now include cell phone and Wi-Fi expenses, as well as civic engagement expenditures, such as pets, clubs, and movie or museum excursions.”
Residents in Washington, D.C. need to earn $42,000 a year – the highest in the country – to meet their basic needs, while single people in South Dakota can subsist on an annual salary of $26,225.
Here’s a breakdown by state of the total required income before taxes a single person needs to stay above the poverty line, according to the Living Wage Calculator.
New Hampshire: $30,089
New Jersey: $33,696
New Mexico: $29,057
New York: $38,719
North Carolina: $30,617
North Dakota: $27,211
Rhode Island: $30,763
South Carolina: $30,328
South Dakota: $26,225
West Virginia: $27,837
To find out more about the Living Wage Calculator, head over to the MIT website.
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