How Much Money Does It Cost To Live In Ct A Month

Making a livable wage tin can be a lifelong struggle. The mounting costs of housing and basic necessities can add together up quickly, leaving you lot scraping to make ends run into rather than saving and building wealth. How far your coin goes depends on where you live, too.

That'southward why GOBankingRates conducted a study to identify the annual living wage needed to live comfortably in each of the l states, and it revealed that fifty-fifty if y'all're living comfortably in ane region, you could be living paycheck to paycheck in some other.

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Not to be confused with the minimum wage, we define the "living wage" as the income you need to embrace necessary and discretionary expenses while however contributing to savings. Using information from the Bureau of Labor Statistics and the 50/thirty/twenty budgeting rule — that allocates l% of your income to necessities, 30% to discretionary expenses and xx% to savings — the report found what yous would need to earn to comfortably cover your basic needs while nonetheless saving for the future. Just the results reveal that the average salary in your state might not be enough to exercise just that.

Cheque out how much you need to earn to comprehend all your expenses in all fifty states.

Last updated: Jun. 2, 2021

Alabama

Almanac Living Wage: $53,824

Alabama is among the least expensive places in America to live — in part thanks to median housing costs of only $8,590 a year — merely earning a median wage would nevertheless go out inhabitants of the Yellow Hammer State $3,288 short of a living wage.

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Alaska

Annual Living Wage: $86,002

Life in The Concluding Frontier country comes at a cost, with the total price of necessities in Alaska clearing $43,000 a yr. Housing, groceries, utilities, healthcare and transportation in Alaska all cost well above the median toll in the U.S.

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Arizona

Arkansas

Annual Living Wage: $53,067

Arkansas is one of the acme two states where your dollar will stretch far with a cost of living that'south more than than ten% under the national average. Many residents of the Razorback Country, though, are still struggling to hit the almanac living wage mark as the average household income is only $47,597 — the third-lowest in the country.

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California

Annual Living Wage: $97,806

The nation's most populous land is too amidst the tertiary most expensive, with a living wage translating to just about half-dozen figures if yous're planning on post-obit the fifty/30/20 rule. Fifty-fifty for a state with an average annual income of $75,235, those are costs that are hard to behave.

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Colorado

Almanac Living Wage: $66,443

Residents of the Rocky Mountain State actually take some money to spare. With a median income of $72,331, the average Coloradan tin bank $5,888 at the end of the year.

Connecticut

Annual Living Wage: $78,454

Connecticut's relatively high cost of living means you would need to earn almost $80,000 to follow the 50/30/20 formula. A big chunk of that ends upward going to housing, with an average annual bill of $17,155 for Connecticut residents.

Delaware

Annual Living Wage: $66,838

While Delaware residents enjoy overall costs that more often than not aren't too far above the national average, they are paying eighteen.3% more for their groceries than the average American, translating to an annual nib of $5,590.

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Florida

Annual Living Wage: $63,645

Although the cost of living in Florida is actually a hair below the national average, the median income in the Sunshine State isn't quite then sunny at $55,660 a year. That leaves a gap of nearly $8,000 between the typical annual salary and a living wage. Still, Florida is considered 1 the best states for the eye grade.

Georgia

Hawaii

Annual Living Wage: $141,680

Hawaii is the about expensive state in the country, mostly due to housing costs that run more than triple the national average at about $41,000 a year. Every bit such, despite a median income of $81,275 a year, the typical Hawaiian is all the same over $60,000 short of a living wage — the largest such gap in this study.

Idaho

Annual Living Wage: $59,153

Idaho is another country that comes in under the national average for its cost of living, but it has a median income of $55,785. The annual utilities cost in Idaho is the lowest in the study.

Illinois

Indiana

Annual Living Wage: $55,583

Indiana is one of the cheaper states to live in, thanks to costs of living that are beneath the national average in each category in the study.

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Iowa

Annual Living Wage: $57,104

Iowa can avowal relatively depression costs of living — including housing costs that are more than 20% below the national average at simply $9,477 per annum. The median bacon is $60,523, a few k dollars above the almanac living wage.

Kansas

Annual Living Wage: $54,570

Kansas wraps upward a quartet of Midwestern states where low median salaries are first past a low cost of living and puts a living wage in reach for many. With a median bacon of $59,597, the typical Jayhawk earns about $5,000 more than the living wage in the state.

Kentucky

Annual Living Wage: $56,116

While Kentucky has a low toll of living that's largely in line with states such every bit Indiana, Illinois and Iowa, the median bacon of just $fifty,589 is much lower, leaving a $5,527 gap to a living wage despite beneath-average costs.

Louisiana

Almanac Living Wage: $57,984

Much like Kentucky, Louisiana has depression costs simply also lower wages. A median salary in the state is just $49,469, then while residents might be paying almost 13% less for housing than the boilerplate American, they're as well more than likely to exist struggling to afford it.

Maine

Annual Living Wage: $75,245

Residents of Maine are much more probable to exist struggling with higher costs than the rest of the state. The almanac living wage of over $75,000 is amid the highest in the land, but the median income there is on the lower side at just $57,918. That leaves a $17,327 gap between a median salary and a living wage, one of the largest in the study.

Maryland

Massachusetts

Almanac Living Wage: $85,784

Massachusetts residents can expect that the cost of their basic necessities will run a full third college than the national average when totaled, leaving a sky-high living wage of $85,784. And while it'south a state of high earners, the average annual housing cost of nearly $21,000 keeps well-nigh residents of the Bay State from meeting the living wage.

Michigan

Annual Living Wage: $56,256

The median income in Michigan is $57,144. Average housing costs of just $9,453 a year help Michigan residents meet the living wage.

Minnesota

Almanac Living Wage: $62,105

The term "Minnesota Squeamish" generally refers to the land'southward cordial residents, only it could also be describing the nexus of decent wages and affordable costs in the state. While cost of living there is slightly higher than the national boilerplate — by just 0.7% — the median annual bacon of $71,306 leaves Minnesotans with an backlog of $9,201 a year above the living wage.

Mississippi

Annual Living Wage: $51,218

Mississippi has the everyman cost of living in the state. But before anyone starts thinking about making a big purchase, know information technology also has the lowest median income in the nation at but over $45,000 — that results in a gap of more than $half-dozen,000.

Missouri

Annual Living Wage: $55,047

Residents of the Show Me Land take a median almanac income of $55,461 — plus they're also living somewhere where a dollar goes farther. Missouri is one of the ten least-expensive places to live.

Montana

Annual Living Wage: $62,649

Some residents of the Big Sky State might mumble that information technology could just equally easily be chosen the "Big Cost of Living State," with average annual housing costs that near $thirteen,000. There'due south well-nigh an $eight,000 gap between the median annual income of $54,970 a twelvemonth and the boilerplate annual living wage.

Nebraska

Almanac Living Wage: $57,800

While the median almanac salary of $61,439 might mean that the typical Cornhusker isn't exactly rolling in the dough, information technology'south even so plenty to exceed the almanac living wage costs.

Nevada

Annual Living Wage: $70,163

Nevada is a relatively expensive state where residents don't announced to be earning enough to cover costs. With an almanac median income of $60,365, the average resident falls shut to $10,000 brusque of the living wage.

New Hampshire

Annual Living Wage: $67,926

While the cost of living in New Hampshire drives up its living wage to virtually $68,000 a twelvemonth, the state too has a lot of residents with college incomes, leading to a median salary of $76,768 a year. The resulting gap between the two of $8,842 is amidst the highest that'due south near favorable to residents in any state.

New Jersey

Almanac Living Wage: $75,503

The annual cost of living in the Garden Country is virtually 17% higher than the national average, but that also comes with higher wages in the state. The median income is a whopping $82,545 — the 2nd highest on the list — and enough to surpass the living wage.

New Mexico

Annual Living Wage: $56,291

It doesn't cost equally much to become past in New Mexico, but the state'due south very low median income — only $49,754 — means most residents are withal probably struggling to make ends run into. That median salary is most $6,500 short of a living wage.

New York

Almanac Living Wage: $99,778

Later on Hawaii, no land is as expensive to telephone call home as the Empire State. And while the median salary is a healthy $68,486, the $31,292 gap between paychecks and a living wage trails only Hawaii.

North Carolina

Almanac Living Wage: $60,543

Tar Heel State residents have significantly lower housing costs than most — paying nigh $x,700 a year on average. Nonetheless, despite this, a depression median income in the state leaves the typical resident earning $5,941 less than they need for a living wage.

North Dakota

Annual Living Wage: $62,259

The almanac price of living in N Dakota is just slightly above the national average, and with a median annual salary of near $65,000 a year, the state'southward typical resident earns more than than $ii,600 to a higher place the living wage.

Ohio

Annual Living Wage: $56,856

Ohioans come out just about even in the survey. The median income for the Buckeye Country is $56,602, meaning the average resident is about $250 short of what they need by year's stop.

Oklahoma

Annual Living Wage: $53,824

Housing costs in Oklahoma are very low — just $8,824 on boilerplate — contributing to depression overall costs. With a median income of $52,919, the average resident will come up up about $900 curt of the living wage.

Oregon

Annual Living Wage: $88,394

While Hawaii's astronomical gap of more $60,000 betwixt its median salary and its living wage is No. 1, the state of Oregon comes in third at $25,576. The housing toll is 1 of the biggest reasons, with the average Oregonian needing more $22,000 a twelvemonth for a place to live.

Pennsylvania

Annual Living Wage: $66,290

Pennsylvania has housing costs that are simply above the national average at $12,520 a yr. Still, the median salary of $61,744 in the Keystone State is more than $4,500 less than the living wage.

Rhode Isle

Annual Living Wage: $74,971

Unfortunately for Rhode Islanders, living in the smallest state carries a big cost. Housing costs there are shut to 30% higher than the national average, costing the typical resident a tick below $16,000 a twelvemonth. That's a big part of why a living wage exceeds the median salary by more than $7,800.

South Carolina

Annual Living Wage: $59,280

While South Carolina falls beneath the national average when information technology comes to living wage, the median annual salary in the Palmetto Country is low enough that a living wage is still about $6,000 higher than what the average South Carolinian makes.

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South Dakota

Almanac Living Wage: $64,796

The average annual housing costs in South Dakota of $14,123 are about fifteen% higher than the national average. With a median income of $58,275, residents are more than $six,500 brusk of a living wage, on average.

Tennessee

Almanac Living Wage: $54,961

The gap betwixt the median income of $53,320 and the $54,961 living wage in Tennessee is under $2,000, but that'south driven more by lower wages than higher costs. The costs of housing and every other category considered in the survey are lower than the national average in Tennessee.

Texas

Annual Living Wage: $57,160

With a median income of $61,874 in the state, many Texans' earnings exceed the annual living wage. That'due south helped by average housing costs of less than $10,500 a yr.

Utah

Annual Living Wage: $61,547

A median income of $71,621 in the Beehive Land makes Utah the state with the highest positive gap between living wage and median income — a full of more than than $10,000 a year.

Vermont

Annual Living Wage: $77,260

Living in New England can become expensive, and the Green Mount State is an example of this. With housing prices about 40% higher up the national average, information technology costs about $17,000 a year to alive in Vermont. With a median income of $61,973, Vermont residents fall well below earning the almanac living wage for the state.

Virginia

Almanac Living Wage: $64,779

While the cost of living is slightly higher than the national average in Virginia, the country's high earning ability helps to make it an affordable identify to live. The median income in Virginia is $74,222.

Washington

Annual Living Wage: $72,761

While life in Washington is pretty expensive when compared to the rest of the country, salaries are loftier besides. With the median income in the state reaching $73,775, residents have most $i,000 left.

West Virginia

Annual Living Wage: $54,703

West Virginia'south median annual salary of $46,711 is 1 of just v less than $fifty,000 in the survey. Then, while the toll of living at that place is relatively low, a living wage is still $7,992 more than than the typical bacon.

Wisconsin

Annual Living Wage: $61,365

Wisconsin is just about even when comparison the living wage and the median income. With a median bacon of $61,747, the boilerplate resident of the Badger Land is in a relatively expert financial spot.

Wyoming

Annual Living Wage: $56,805

Wyoming is i of the elevation five states where income exceeds the living wage. With a median income of $64,049, the average Wyoming resident has enough to get by.

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Joel Anderson contributed to the reporting for this commodity.

Methodology: GOBankingRates surveyed annual living expenses in all l states, using the 2019/2020 Midyear Consumer Expenditure Survey (latest available) information from the Agency of Labor Statistics. The itemized costs of living evaluated were housing, groceries, utilities, healthcare and transportation, collectively termed every bit "necessities." Based on each state's corresponding toll of living index for each category, sourced from the Missouri Economic Inquiry and Information Heart's 2020 Cost of Living Information Series, the study calculated the annual toll of each necessity and summed them up to discover total annual expenditure on necessities. Using the 50-30-xx budget rule, which allocates 50% of income for necessities, the study doubled the full annual expenditure on necessities in order to determine the "living wage" in each land. "Living wage" is defined as the income required to be able to embrace 50% necessities, 30% discretionary/luxury spending and xx% for savings. GOBankingRates also found the median household income of each state from the 2019 American Community Survey and compared the deviation between the living wage and median income of each land. All data was nerveless on and up to engagement as of May iv, 2021.

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Source: https://www.gobankingrates.com/money/jobs/living-wage-every-state/

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