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Mit Living Wage Calculator

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"Comparing the Cost of Living Comfortably in Major US Cities"
finance1 year ago

"Comparing the Cost of Living Comfortably in Major US Cities"

SmartAsset's annual study reveals that a single resident in Washington D.C. needs to make $99,424, while a couple requires a combined $275,642 to live comfortably, based on the MIT Living Wage Calculator's 50/30/20 rule. The study also shows that on average, an individual needs $96,500 for sustainable comfort in major U.S. cities, with New York City being the most expensive. Families in D.C. need an average combined income of about $235,000 to support two adults and two children. The study also highlights the hourly wages and annual salaries needed for a single adult and families to live comfortably in the top 10 most expensive cities, with seven of them located in California.