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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.
Applying the local cost of necessities and taxes to this rule, we can derive the pre-tax salary needed to live comfortably in 99 U.S. cities. ... SmartAsset used MIT Living Wage Calculator data to ...
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.
The MIT Living Wage Calculator's assumptions for family composition include a young child in one-child families, a young child and a school-age child for those with two kids, and a young child, a ...
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 ...
A heat map of the United States by living wage for a single, childless individual according to the MIT living wage calculator as of 2023 [11] $15-15.99 $16.00-16.99
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.
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.