What You Need to Earn to Live Comfortably in Each State

As housing prices skyrocket around the country, more renters and first-time homebuyers are fleeing big cities for places that offer a lower cost of living. Interest rates, rent hikes, inflation, and lagging wages are pushing many Millennials and members of Gen Z to prioritize affordability when planning the next phases of their lives and careers. 

Unfortunately, big cities like New York and Los Angeles don't have a monopoly on priciness. Most places feel expensive these days, but some states are still easier on your wallet than others. To see which U.S. states are the most affordable and which are the least, check out the list below.

The Most and Least Expensive States

SmartAsset recently calculated the income a single adult working full-time would need to earn to live comfortably in each state. To define “comfortably,” the financial technology company leaned on the 50/30/20 rule of budgeting. This guideline dictates that only 50 percent of one’s salary should go to necessities like housing, groceries, and utilities, while 30 percent should be directed to discretionary spending (dining out, entertainment, etc.). That leaves 20 percent for savings. In other words, to “live comfortably” means you’re not just surviving paycheck to paycheck—you’re able to cover all your expenses and still have enough to save and occassionally splurge.

To no one’s surprise, states like California, Hawaii, and New York ranked as some of the most expensive places to call home. Edging them out for the top spot was Massachusetts, which requires an eyebrow-raising salary of $116,022 for a comfortable lifestyle. That means a resident needs to make $55.78 per hour to afford rent, food, and more while having a bit left over in the bank. 

On the opposite end of the scale, West Virginia is the most affordable state to call home, requiring an average salary of just $78,790, which works out to around $37.88 an hour. But, according to the Bureau of Labor Statistics, even that number is too high for most people, as the typical salary for single, full-time workers in the U.S. is roughly $60,000. 

For a look at where your state ranks in terms of livability, check out the full list below.

The Salary Required to Live Comfortably in All 50 States

1. Massachusetts // $116,022
   
2. Hawaii // $113,693
   
3. California // $113,651
   
4. New York // $111,738
   
5. Washington // $106,496
   
6. Colorado // $103,293
   
7. New Jersey // $103,002
   
8. Maryland // $102,918
   
9. Oregon // $101,088
   
10. Rhode Island // $100,838
    
11. Connecticut // $100,381
    
12. Virginia // $99,965
    
13. New Hampshire // $98,093
    
14. Arizona // $97,344
    
15. Georgia // $96,886
    
16. Alaska // $96,762
    
17. Vermont // $95,763
    
18. Illinois // $95,098
    
19. Delaware // $94,141
    
20. Utah // $93,683
    
21. Nevada // $93,434
    
22. Florida // $93,309
    
23. Maine // $91,686
    
24. Pennsylvania // $91,312
    
25. North Carolina // $89,690
    
26. Minnesota // $89,232
    
27. Idaho // $88,733
    
28. South Carolina // $88,317
    
29. Wyoming // $87,651
    
30. Texas // $87,027
    
31. Tennessee // $86,403
    
32. Indiana // $85,030
    
33. Montana // $84,739
    
34. Kansas // $84,656
    
35. Michigan // $84,365
    
36. Wisconsin // $84,115
    
37. Missouri // $84,032
    
38. Alabama // $83,824
    
39. Nebraska // $83,699
    
40. New Mexico // $83,616
    
41. Iowa // $83,366
    
42. Mississippi // $82,742
    
43. Louisiana // $82,451
    
44. South Dakota // $81,453
    
45. Ohio // $80,704
    
46. Kentucky // $80,704
    
47. North Dakota // $80,538
    
48. Oklahoma // $80,413
    
49. Arkansas // $79,456
    
50. West Virginia // $78,790

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