{"id":23484,"date":"2019-12-02T14:29:40","date_gmt":"2019-12-02T21:29:40","guid":{"rendered":"https:\/\/moneyppl.com\/?p=23484"},"modified":"2023-10-19T09:17:31","modified_gmt":"2023-10-19T16:17:31","slug":"how-much-one-needs-to-make-to-live-comfortably-in-all-50-states","status":"publish","type":"post","link":"https:\/\/dev.moneyppl.com\/how-much-one-needs-to-make-to-live-comfortably-in-all-50-states\/23484\/","title":{"rendered":"How Much One Needs To Make To Live Comfortably In All 50 States"},"content":{"rendered":"\n
If you were born and raised in one state your entire life, it might be hard to imagine living anywhere else. After all, your family and friends are all there. But have you ever wondered how your state compares to the rest of the US? Your income may stretch much farther somewhere else, or your retirement savings could last years longer than you would ever expect. <\/span><\/p>\n We broke down exactly how much you need to earn to live a comfortable life in every state. <\/span>We have gathered data from Rent Data, housing prices from Zillow. But of course, you need so much more than just housing costs if you want to live comfortably. The average living wage from GoBankingRates to give you the most comprehensive review of how much it costs to live in each state. <\/span><\/p>\n Alabama is one of the cheapest places to live in the entire country. A one-bedroom apartment is just $530 per month, and a 4-bedroom rental is $1,068. The median price to purchase a property is $134,300. <\/span><\/p>\n In terms of housing, these prices are an absolute bargain compared to most states. Alabama has lots of parks, museums, and more. It is also home to the US Space and Rocket Center.<\/span><\/p>\n <\/p>\n For some people, the thought of living so close to the Arctic Circle sounds like a nightmare. But for people who love hunting and the great outdoors, it could be paradise. However, the environment can be harsh, and the cost of heating alone will set you back a pretty penny. <\/span><\/p>\n There are not very many rentals outside of Anchorage, but if you want an apartment, you need to spend between $911 for a studio and $1,950 for a 4-bedroom. <\/span>Buying a house will set you back an average of $326,000. You will need to make $45,000 just to cover the basic necessities. This means that you need to make at least $92,000 if you want to have a bit extra for entertainment. <\/span><\/p>\n <\/p>\n The state of Arizona’s cost of living is 2.3% less than the national average. The median price of buying a home is $257,600. Rents range from $656 for a studio apartment and go up to $1,429 for a four-bedroom. <\/span><\/p>\n Even in the wintertime, Arizona still averages around 70 degrees, making it a great climate to live if you like warm weather year-round. The city of Phoenix has a lot to do, and it just might be a great choice.<\/span><\/p>\n <\/p>\n Arkansas is known for having diamonds and quartz in their land, but that doesn’t mean it’s a luxurious place to live. Rent is very affordable at just $493 for a studio apartment and up to $1,032 for a four-bedroom space. And if you wanted to buy a house, it costs an average of $129,500.<\/span><\/p>\n The state of Arizona’s cost of living is 2.3 percent below average. So it’s actually very typical for the United States. It’s a great place to live if you like to go hiking and enjoy the view of the mountains.<\/span><\/p>\n <\/p>\n California is the most densely populated state in America and is also one of the most expensive. If you want to live comfortably there, you need to make nearly six figures. Unfortunately, it also has a huge crisis of homeless people. <\/span><\/p>\n This is why “van life” has become so popular in the state. The median cost of buying a home is $550,800. Rent is $992 for a studio apartment and a four-bedroom is $2,322.<\/span><\/p>\n <\/p>\n Colorado is famous for having gorgeous views of the Rocky Mountains and an abundance of nature. Even though it’s beautiful, it is 4.5% more than the national average. <\/span><\/p>\n The median price of buying a home in Colorado is $381,300. Renting is $745 for a studio apartment. If you want to rent a 4-bedroom apartment or house, expect to pay $1,587.<\/span><\/p>\n <\/p>\n Compared to the rest of the United States, Connecticut has a high cost of living. But it’s a case of “you get what you pay for.” Home of the Ivy League university Yale, the state is known for its highly educated and successful people. <\/span><\/p>\n There are also beautiful houses, beaches, and it’s close to New York City. The average rent goes between $870 to $1907. And the median household cost is $244,800. <\/span><\/p>\n <\/p>\n One of the biggest draws to Delaware for people living in the tri-state area is the fact that it does not have any sales tax. Many business owners choose to incorporate in Delaware for the tax breaks. <\/span><\/p>\n I<\/span>t also has beaches, shopping, and entertainment options. The median price of a house in Delaware is $236,300. If you want to rent an apartment, expect to pay $794 to $1,698.<\/span><\/p>\n <\/p>\n If you’re an American, you have probably visited Florida at least once. And plenty decided to move there for retirement so that they can enjoy the warm weather and sandy beaches. Residents do not have to pay any income tax, which helps them save you a ton of money. <\/span><\/p>\n The cost of purchasing a home is an average of $237,900. Rent is $743 to $1,574, depending on the size of the apartment or house. It’s considered one of the best states to live in if you belong in the middle class.<\/span><\/p>\n <\/p>\n Living in Georgia costs lower than the national average. It has the beautiful Blue Ridge Mountains and loads of Southern charm. The average house in Georgia will set you back roughly $193,500. <\/span><\/p>\n If you want to rent instead, expect to pay $628 to $1,231, depending on the size of the space. <\/span><\/p>\n <\/p>\n The most expensive place to live in the United States is Hawaii. And it shouldn’t be surprising, considering it’s literally paradise. Since they are a collection of islands, it also means that everything has to be flown or taken to the island on a boat, which can add up. It is incredibly expensive to own property in Hawaii, with the median cost of a home at $619,000. Even renting an apartment is expensive. <\/span><\/p>\n A tiny studio apartment costs $1,236 and a four-bedroom can go for $2,926 or more. To put things into perspective, this is like living in New York City. Unfortunately, though, the average income of someone living and working in Hawaii is $75,000. This means that they are living far below what should be needed for them to live a “comfortable” lifestyle.<\/span><\/p>\n <\/p>\n Idaho is in the Northwest, so it has plenty of beautiful natural splendor. If you want to buy a house in Idaho, it costs an average of $274,200. Renting a studio apartment is just $564, and a four-bedroom can go for $1,286. While it is under the national average for cost of living, it, unfortunately, has lower salaries, too. <\/span><\/p>\n The majority of people who live there make less than what they would need in order to have a comfortable living where they could afford to pay for luxuries like vacations, entertainment, and more.<\/span><\/p>\n <\/p>\n The average house in Illinois costs $183,500. Rent is just $556 to $1,163 per month, but it can be much more if you are looking to live in the city of Chicago. <\/span><\/p>\n Illinois also borders Lake Michigan, which is a beautiful place to visit. <\/span>The only downside is that the vast majority of residents earn <\/span>$61,229, which puts them below a comfortable living wage. <\/span><\/p>\n <\/p>\n Rent on an apartment is $549 on a studio and up to $1,165 for a four-bedroom. If you want to buy a house, it will cost around $148,700. The living cost is low compared to the rest of the United States. <\/span><\/p>\n Browsing through Trip Advisor, you can see that the state has a lot of parks, museums, and nature preserves. The only downside to living in a cheap state is that the vast majority of people make roughly<\/span> $10,000 less than what they need to live a comfortable life.<\/span><\/p>\n <\/p>\n Iowa is smack-dab in the middle of the US and has several states surrounding it. Renting an apartment in Iowa costs between $516 to $1,077. The median cost of buying a house in Iowa is $146,500. This is very cheap compared to the rest of the country, and you can find a great place to live for under $10,000 per year. <\/span><\/p>\n However, most people still make less than what they would need to buy a house or live a comfortable life buying things outside of their basic needs.<\/span><\/p>\n <\/p>\n Kansas is a Midwestern state that has plenty of wide-open spaces and farmland. Rent is just $545 to $1,125 for an apartment, and the median price of buying a house is $141,500. Even in Kansas City, you can find a luxury apartment in the center of the city for just $1,000. <\/span><\/p>\n Compared to most other American cities, that is a huge bargain. The only downside is that the median salary is just <\/span>$55,477. That falls below what you would need for a comfortable living wage. <\/span><\/p>\n <\/p>\n As you can imagine, the entire state has a huge horse culture. So if you are into riding, it could be a great place to live. Renting an apartment is just $498 for a studio and up to $1,051 for a four-bedroom. Buying a house will cost around $148,400. <\/span><\/p>\n This makes it one of the cheapest places to live. The only downside is that there are not many high-earning career opportunities. The median salary in Kentucky is just $46,535. This leaves a significant gap in what you need to be comfortable living there.<\/span><\/p>\n <\/p>\n Louisiana is famous for its jazz music, great Cajun food, friendly locals, and warm weather. The average price to buy a home in Louisiana is $147,600, and rent is $617 to $1,228. But as you can probably imagine, it’s more expensive to move to a big city like New Orleans. <\/span><\/p>\n The average salary for a household in Louisiana is only $46,710. This means that most people are probably struggling to make ends meet. <\/span><\/p>\n <\/p>\n If you want to purchase a house, expect to pay in the ballpark of $237,800. Rent is far more affordable for most people, with apartments costing just $634 to $1,248. For bigger cities like Portland, it can be a bit higher than average. However, people who live in Maine are likely struggling with high costs. <\/span><\/p>\n There is a $27,312 gap between what an average person earns in a year, and how much you need to live comfortably. In other words, you are going to see a huge divide between the rich and poor in Maine. <\/span><\/p>\n <\/p>\n Living in Maryland can be hectic in more ways than one. Driving is stressful because so many people move to the state for high-income work. Many people work in Washington DC, so they have high-salary government jobs. <\/span><\/p>\n There is also a ton to do in cities like Baltimore and Annapolis. <\/span>Depending on the area, you can pay between $909 to $1,947 for rent on a one-bedroom. The median cost of a house is $290,500. Even though there is a lot to do, this is one of the most expensive states to live in. <\/span><\/p>\n <\/p>\n Massachusetts has Boston, Martha’s Vineyard, and so much more. There is a good reason why so many people love to live there. The median price of a house in Massachusetts is $408,100. Rent for a studio apartment can set you back $1,134, and you can expect to pay in the ballpark of $2,167 for additional bedrooms. <\/span><\/p>\n Even though it is home to plenty of billionaires, <\/span>the median income of your average citizen is just $74,167. So most people living there are making less than what they need to live a comfortable lifestyle. <\/span><\/p>\n <\/p>\n Surrounded by the Great Lakes, Michigan is great for people who love the water. This state is yet another example of being a really affordable place to live, but the opportunity to make money is very low. Buying a house will cost an average of $154,500 for a property. If you want to rent, that’s just $547 to $1,127. <\/span><\/p>\n But the median household is making <\/span>$52,668. This is lower than what you can expect to pay if you want to raise a family to have a comfortable life in Michigan, so many people are probably struggling with money, even with the low living cost.<\/span><\/p>\n50. Alabama: $60,016<\/span><\/h2>\n
49. Alaska: $91,996<\/span><\/h2>\n
48. Arizona: $68,504<\/span><\/h2>\n
47. Arkansas: $68,504<\/span><\/h2>\n
46. California: $99,971<\/span><\/h2>\n
45. Colorado: $74,215<\/span><\/h2>\n
44. Connecticut: $90,278<\/span><\/h2>\n
43. Delaware: $71,254<\/span><\/h2>\n
42. Florida: $67,614<\/span><\/h2>\n
41. Georgia: $62,074<\/span><\/h2>\n
40. Hawaii: $136,437<\/span><\/h2>\n
39. Idaho: $66,486<\/span><\/h2>\n
38. Illinois: $66,847<\/span><\/h2>\n
37. Indiana: $62,086<\/span><\/h2>\n
36. Iowa: $63,397<\/span><\/h2>\n
35. Kansas: $62,090<\/span><\/h2>\n
34. Kentucky: $63,086<\/span><\/h2>\n
33. Louisiana: $63,842<\/span><\/h2>\n
32. Maine: $80,336<\/span><\/h2>\n
31. Maryland: $92,227<\/span><\/h2>\n
30. Massachusetts: $93,895<\/span><\/h2>\n
29. Michigan: $67,712<\/span><\/h2>\n