Here's the Income It Takes to Live Comfortably in Every State
Outside of the big cities, life can be cheaper for many Americans. Though, after years of high inflation, cost increases have affected almost everyone. If you aspire to maintain a comfortable lifestyle, the 50/30/20 budget rule recommends spending approximately 50% of your income on basic needs like food and housing, 30% on wants and putting away the remainder toward savings or paying off debt.
Keeping this in mind, 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 two children.
Key Findings
Massachusetts is the most expensive state to live comfortably in. A single adult needs to make at least $58,011 to cover basics, wants and savings in Massachusetts, or $27.89 per hour. For a family with two working parents of two children, the total family income will need to be about $150,592 for the same level of comfort.
Relatively, it’s less expensive to raise a family in California than live comfortably alone. While California ranks third-most expensive for a single adult to live comfortably at $56,826, it only ranks fifth-most expensive for two working adults raising two children. The total family income should be at least $138,362 in the latter case. Connecticut ($139,942) and New York ($139,485) cut ahead of California when it comes to costs of raising a family comfortably.
Connecticut is third-most expensive for raising a family comfortably – and only 11th- most for single adults. While single adults in Connecticut have a bit of reprieve supporting themselves comfortably, requiring $50,190, the income needed across two working adults with kids comes out to $139,942, or third- most studywide.
It takes only $39,395 for an adult to live comfortably in West Virginia. West Virginia is least expensive for a single adult, who only needs to make an estimated $18.94 per hour pre-tax. When it comes to two working adults raising two children, the state is third-least expensive with the family requiring $94,682 in income across needs, wants and long-term goals.
Two working adults need the least money to raise children in Mississippi. A family in Mississippi would need about $88,899 to cover the basic needs, wants and savings goals. It’s relatively more expensive for a single adult to achieve the same at $41,371, which makes The Magnolia State eighth-least expensive.
Top 10 States Where It’s Most Expensive to Live Comfortably
States are ranked by the income needed to live comfortably as a single adult according to the 50/30/20 budget.
Massachusetts
Hourly wage needed for a single working adult: $27.89
Salary needed for a single working adult: $58,011
Rank of income needed for a family: 1
Salary needed across two working adults raising two children: $150,592Hawaii
Hourly wage needed for a single working adult: $27.33
Salary needed for a single working adult: $56,846
Rank of income needed for a family: 2
Salary needed across two working adults raising two children: $147,306California
Hourly wage needed for a single working adult: $27.32
Salary needed for a single working adult: $56,826
Rank of income needed for a family: 5
Salary needed across two working adults raising two children: $138,362New York
Hourly wage needed for a single working adult: $26.86
Salary needed for a single working adult: $55,869
Rank of income needed for a family: 4
Salary needed across two working adults raising two children: $139,485Washington
Hourly wage needed for a single working adult: $25.60
Salary needed for a single working adult: $53,248
Rank of income needed for a family: 7
Salary needed across two working adults raising two children: $128,710Colorado
Hourly wage needed for a single working adult: $24.83
Salary needed for a single working adult: $51,646
Rank of income needed for a family: 6
Salary needed across two working adults raising two children: $132,496New Jersey
Hourly wage needed for a single working adult: $24.76
Salary needed for a single working adult: $51,501
Rank of income needed for a family: 9
Salary needed across two working adults raising two children: $125,590Maryland
Hourly wage needed for a single working adult: $24.74
Salary needed for a single working adult: $51,459
Rank of income needed for a family: 15
Salary needed across two working adults raising two children: $119,725Oregon
Hourly wage needed for a single working adult: $24.30
Salary needed for a single working adult: $50,544
Rank of income needed for a family: 8
Salary needed across two working adults raising two children: $128,669Rhode Island
Hourly wage needed for a single working adult: $24.24
Salary needed for a single working adult: $50,419
Rank of income needed for a family: 10
Salary needed across two working adults raising two children: $124,634
Top 10 States Where It’s Least Expensive to Live Comfortably
States are ranked by the income needed to live comfortably as a single adult according to the 50/30/20 budget.
West Virginia
Hourly wage needed for a single working adult: $18.94
Salary needed for a single working adult: $39,395
Rank of income needed for a family: 3
Salary needed across two working adults raising two children: $94,682Arkansas
Hourly wage needed for a single working adult: $19.10
Salary needed for a single working adult: $39,728
Rank of income needed for a family: 2
Salary needed across two working adults raising two children: $90,397Oklahoma
Hourly wage needed for a single working adult: $19.33
Salary needed for a single working adult: $40,206
Rank of income needed for a family: 8
Salary needed across two working adults raising two children: $97,053North Dakota
Hourly wage needed for a single working adult: $19.36
Salary needed for a single working adult: $40,269
Rank of income needed for a family: 13
Salary needed across two working adults raising two children: $101,088Kentucky
Hourly wage needed for a single working adult: $19.40
Salary needed for a single working adult: $40,352
Rank of income needed for a family: 5
Salary needed across two working adults raising two children: $95,056Ohio
Hourly wage needed for a single working adult: $19.40
Salary needed for a single working adult: $40,352
Rank of income needed for a family: 20
Salary needed across two working adults raising two children: $104,666South Dakota
Hourly wage needed for a single working adult: $19.58
Salary needed for a single working adult: $40,726
Rank of income needed for a family: 6
Salary needed across two working adults raising two children: $96,304Louisiana
Hourly wage needed for a single working adult: $19.82
Salary needed for a single working adult: $41,226
Rank of income needed for a family: 4
Salary needed across two working adults raising two children: $94,806Mississippi
Hourly wage needed for a single working adult: $19.89
Salary needed for a single working adult: $41,371
Rank of income needed for a family: 1
Salary needed across two working adults raising two children: $88,899Iowa
Hourly wage needed for a single working adult: $20.04
Salary needed for a single working adult: $41,683
Rank of income needed for a family: 23
Salary needed across two working adults raising two children: $105,706
Data and Methodology
SmartAsset used MIT Living Wage Calculator data to gather the basic cost of living for an individual with no children and for two working adults with two children. Data includes cost of necessities that cover housing, food, transportation, income taxes and other miscellaneous items. It was last updated to reflect the most recent data available on Feb. 14, 2024.
Applying these costs to the 50/30/20 budget for 50 U.S. states, MIT’s living wage is assumed to cover needs (i.e. 50% of one’s budget). From there the total wage was extrapolated for individuals and families to spend 30% of the total on wants and 20% on savings or debt payments.
Questions about our study? Contact us at press@smartasset.com
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