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Alaska. Living Wage: $97,546 Life in the last frontier state comes at a cost, with housing, groceries, utilities, healthcare and transportation in Alaska all fairly expensive.
You’ll need $112,411 to make what’s considered a living wage in Hawaii. Massachusetts, California, New York and Alaska round out the top five most expensive states for a single person.
Compare this to the state’s 2022 median household income of $48,610, and the graphic’s standard of living appears practically unachievable for most families. Massachusetts, which is identified ...
Cost of a basic but decent life for a family [1] [2]. A living wage is defined as the minimum income necessary for a worker to meet their basic needs. [3] This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity.
Using the 50-30-20 budget rule, which allocates 50% of income for necessities, the study doubled the total annual expenditure on necessities in order to determine the "living wage" in each state ...
For the sate of New Jersey, the MIT Living Wage Calculator estimates a single adult should make at least $51,500 a year. For an adult with a child, that threshold goes up to $90,800.
SmartAsset applied the 50/30/20 budget rule to cost of living data in each U.S. state to determine how much income a single adult needs to live comfortably, as well as two working adults raising ...
Here's a look at the living wage you need in every state. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Mail ...