(Nexstar) – The costs for various items remain high while inflation is cooled. According to the latest federal data, a record number of Americans have multiple jobs. You may have earned a slightly larger salary this year, but you may not be able to “live comfortably” enough.
A new report from the personal finance site SmartAsset reviewed what you need to live a comfortable financial life in the 100 largest cities in the United States. MIT Living Wage Calculatorand applied it to the budget preparation method of 50/30/20. The rules suggest that half of the budget covers needs, 30% are heading towards “desires” and 20% are heading towards debt, savings or investment.
By using estimated living wages as the money needed to cover “needs,” SmartAsset calculated the salary required to cover the other half of the budget (hope and debt or savings). MIT provides estimates of living wages for 12 different family structures, while SmartAsset focused on two people. I'm one adult with no children and two working adults with two children.
The analysis found that cities primarily in the country's south and southeastern countries are the most affordable, and that cities do not serve as the most affordable option for both single adults and working families (Houston secured that title last year).
According to SmartAsset, Indianapolis is the largest city in the country and ranks it as the most affordable price for one adult. There you only need to earn $85,197 a year to provide your desires, needs and savings goals. Indiana City has pushed Oklahoma City narrowly out for under $250.
However, Indianapolis is not affordable enough for a family of four. The estimated salary required was around $222,700, ranking 28th overall. Instead, it was Tennessee that SmartAsset decided to provide the most affordable living for their families in Memphis, Tennessee.
There, a total salary of less than $198,400 can provide enough families to implement the 50/30/20 budgeting rules. It was found that only three other cities have the required salaries below $200,000. Greensboro, North Carolina. San Antonio, Texas. Baton Rouge, Louisiana.
Below are cities where “Living in a Comfort” is the most affordable for one adult and a family of four.
| Cheapest cities for individuals | Cheapest city for two adults with two children |
| Indianapolis, Indiana ($85,197) | Memphis, Tennessee ($198,349) |
| Oklahoma City, Oklahoma ($85,446) | Greensboro, North Carolina ($198,515) |
| Tulsa, Oklahoma ($85,571) | San Antonio, Texas ($199,181) |
| New Orleans, Louisiana ($86,445) | Baton Rouge, Louisiana ($199,846) |
| Albuquerque, New Mexico ($86,611) | Winston-Salem, North Carolina ($201,011) |
| San Antonio, Texas ($86,694) | New Orleans, Louisiana ($201,178) |
| Winston-Salem, North Carolina and Tucson, Arizona ($86,736) | Huntsville, Alabama ($205,421) |
| Spokane, Washington ($87,818) | Houston, Texas ($206,669) |
| Baltimore, Maryland ($87,984) | Orlando, Florida ($207,501) |
As last year, SmartAsset discovered that cities on both coasts are dramatically more expensive for singles and families of four.
With both family sizes, San Jose, California ranks as the most expensive. Individuals need to make a small amount of $147,400 to live comfortably, while a family of four requires more than $371,500.
A SmartAsset analysis revealed that five of the most expensive metropolitan areas for personal use, four of four families, are in California.
Below are the cities where living comfortably is the most expensive.
| The most expensive city for individuals | Most expensive city for two adults with two children |
| San Jose, California ($147,430) | San Jose, California ($371,571) |
| New York, New York ($136,656) | San Francisco, California ($366,829) |
| Anaheim, Irvine, Santa Ana, CA ($133,952) | Arlington, Virginia ($355,430) |
| Boston, Massachusetts ($133,578) | Boston, Massachusetts ($352,102) |
| Seattle, Washington ($128,211) | Oakland and Fremont, California ($343,949) |
| San Diego and Chula Vista, California ($127,754) | Seattle, Washington ($327,475) |
| Arlington, Virginia ($127,046) | New York, New York ($306,093) |
| Honolulu, Hawaii ($124,883) | Washington District Columbia District ($305,427) |
| Oakland and Fremont, California ($124,592) | Honolulu, Hawaii ($303,098) |
| San Francisco, California ($121,930) | Anaheim, Irvine, Santa Ana, CA ($301,600) |
In almost every city, it costs more to “live comfortably” than last year. For example, a family of four in San Jose requires around $37,000 or more compared to SmartAsset's 2024 report. The same family in Arlington, Virginia, requires nearly $40,000 more than last year.
Of the cities mentioned above, only New York saw the estimated required pay decline. Last year it was the most expensive metropolis for one adult who weighed over $138,500. That's about $2,000 more than this year's estimate.
You can view SmartAsset Here is the complete list. Would you like to see your city listed? You can find your city, county, or state MIT's Living Wage Calculatorthen find the annual income you need after tax and multiply by 2.
Nationally, SmartAsset has found that the salary required to avoid paying the largest metro pay is about $5,000 more for the central household.
The scale of the earlier this month Consumer sentiment The third month fell sharply, falling more than 20% since December. Respondents to the University of Michigan survey cited policy uncertainty as a key reason for the pessimistic outlook. Respondents were sharply divided by the party – sentiment about the current economy fell among far fewer Republicans than Democrats – Republican confidence in the future in the economy fell by 10%.
The Associated Press contributed to this report.
