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Wyoming. Living Wage: $68,563 Wyoming is one of a few states where income exceeds the living wage. With a median income of $72,495, the average Wyoming resident has enough to get by.
Rounding out the top five least expensive states to live are Oklahoma, Alabama, Kansas and Arkansas, all requiring less than $47,500 to earn a living wage. Mississippi Oklahoma
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
A living wage is defined as the minimum income ... A heat map of the United States by living wage for a ... This page was last edited on 11 December 2024, ...
The total annual expenditure on necessities was then doubled to determine each state’s living wage for millennials. ... (May 2024): $988,816. Average monthly mortgage cost: $5,891.
“Living wage” is defined as the income required to be able to allocate 50% to necessities, 30% to discretionary/luxury spending and 20% to savings. All data was collected on and up to date as ...
The federal minimum wage was introduced in 1938 at the rate of 25¢ per hour (equivalent to $5.19 in 2022). [78] [7] By 1950 the minimum wage had risen to 75¢ per hour. [82] [7] The purchasing power of the federal minimum wage has fluctuated; it was highest in February 1968, when it was $1.60 per hour.
The highest state minimum wage in 2024 will be Washington state, at $16.28, up from $15.74. ... She points to MIT’s living wage calculator to assess what a single person without kids would have ...