Hefty incomes needed for solo living in the U.S. – study
NEW YORK, UNITED STATES — Living comfortably solo in major U.S. cities demands substantial salaries, a SmartAsset analysis reveals.
To maintain a 50/30/20 budget, covering 50% of necessities, 30% discretionary spending, and 20% savings, a single person requires a median income of $93,933 across 99 metro areas.
On average, an individual needs to earn $96,500 annually to live comfortably in a major city, while a family of four requires a combined income of around $235,000. The costs are highest in San Francisco, where a couple with two children must make over $339,000 to avoid financial strain.
Meanwhile, New York City tops the list, necessitating $138,570 for comfortable solo living. Other cities with steep costs include San Jose ($334,547 for a family), Boston ($319,738), and Arlington ($318,573).
While employers offer higher salaries to attract talent, housing costs strain budgets. According to the Community Service Society, in New York, a third of residents spend half their income on rent.
There’s also a ‘singles tax‘ in large cities for living alone that can add up to thousands of dollars each year, citing higher food, shelter, and transportation expenses.
Here’s the income a single person needs to live comfortably in the 10 U.S. cities with the highest cost of living:
- New York City: $138,570
- San Jose, California: $136,739
- Irvine, California: $126,797
- Santa Ana, California: $126,797
- Boston: $124,966
- San Diego: $122,803
- Chula Vista, California: $122,803
- San Francisco: $119,558
- Seattle: $119,392
- Oakland, California: $118,768
On the other hand, Houston, El Paso, and Lubbock topped the list of most affordable major cities, with individuals needing around $75,000 for a comfortable lifestyle in these Texas metros.
