You need a $138,570 salary to live comfortably in NYC: study
NEW YORK (PIX11) – New York City requires the highest salary needed to live comfortably as a single adult of any of the largest cities in the United States, according to a study.
A new study by SmartAsset looked into the pre-tax salary needed to live comfortably in 99 U.S. cities using the "50/30/20 budget."
“The 50/30/20 budget recommends that for sustainable comfort, 50% of your salary should be allocated to your needs, such as housing, groceries and transportation; 30% toward wants like entertainment and hobbies; and 20% toward paying off debt, saving or investing,” SmartAsset’s Jaclyn DeJohn wrote.
A single adult living in New York City would need to make $138,570 a year in order to live comfortably, according to the study. That equates to an hourly wage of $66.62.
To cover the cost of just necessities as a single person in New York City, you would need to make an estimated $70,000, according to SmartAsset.
A family of two adults with two children would need to make a combined $318,406 a year in order to live comfortably in New York City, according to the study.
Finn Hoogensen is a digital journalist who has covered local news for more than five years. He has been with PIX11 News since 2022. See more of his work here.