Mapped: The Income a Family Needs to Live Comfortably in Every U.S. State

Visual Capitalist

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May 22, 2024 Graphics/Design:

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The Income a Family Needs to Live Comfortably in Every U.S. State

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Families in the top five most expensive U.S. states require an annual income exceeding $270,000 to live comfortably.

This visualization illustrates the income necessary for two working adults with two children to maintain a comfortable lifestyle in each state.

“Comfortable” is defined as the income needed to cover a 50/30/20 budget, with 50% allocated to necessities like housing and utilities, 30% to discretionary spending, and 20% to savings or investments.

The calculations for family income needed in each state were done by SmartAsset, using the cost of necessities sourced from the MIT Living Wage Calculator, last updated on Feb. 14, 2024.

Massachusetts Tops the List

Massachusetts is the most expensive state to live comfortably in, requiring a total family income of about $301,184. Hawaii ($294,611) comes in second, followed by Connecticut ($279,885).

Housing is one main reason Massachusetts is an expensive state to live in, particularly in the Boston area. In addition, the state also has a high cost of living, including expenses such as healthcare and utilities.

RankStateIncome for 2 working adults raising 2 children 1Massachusetts$301,184 2Hawaii$294,611 3Connecticut$279,885 4New York$278,970 5California$276,723 6Colorado$264,992 7Washington$257,421 8Oregon$257,338 9New Jersey$251,181 10Rhode Island$249,267 11Vermont$248,352 12Minnesota$244,774 13New Hampshire$244,109 14Alaska$242,611 15Maryland$239,450 16Nevada$237,286 17Virginia$235,206 18Illinois$231,962 19Arizona$230,630 20Pennsylvania$230,464 21Maine$229,549 22Delaware$228,966 23Wisconsin$225,056 24Utah$218,483 25Michigan$214,490 26Nebraska$213,075 27Georgia$212,826 28Montana$211,411 28Iowa$211,411 30Idaho$211,245 31North Carolina$209,331 31Ohio$209,331 33Florida$209,082 34Indiana$206,003 35New Mexico$203,923 36Wyoming$203,424 37Missouri$202,259 38North Dakota$202,176 39Texas$201,344 40South Carolina$200,762 41Kansas$196,768 42Tennessee$195,770 43Oklahoma$194,106 44Alabama$193,606 45South Dakota$192,608 46Kentucky$190,112 47Louisiana$189,613

The full article is available here. This article was published at Visual Capitalist.