The salary a single person needs to live comfortably in 25 major U.S. cities (2024)

FAQs

What is a good annual salary for a single person in USA? ›

The national median for living comfortably alone is $89,461, which suggests that a 50/30/20 budget might not be practical for most single people.

Key Findings. On average, an individual needs $96,500 for sustainable comfort in a major U.S. city.

Living a comfortable life in the 50 biggest cities in the United States requires earning an income of at least $50,000 annually — and in many cities, homeowners and renters need to earn six figures.

According to IRS standards, a monthly income of approximately $45,000 qualifies someone as wealthy. However, if you're aiming for the top 1% as measured by the Economic Policy Institute (EPI), you'd need to earn about $68,277 monthly.

Only 18% of individual Americans make more than $100,000 a year, according to 2023 data from careers website Zippia. About 34% of U.S. households earn more than $100,000 a year, according to Zippia.

Is $80K a good salary for a single person? $80,000 is about $5,000 higher than the U.S. median household income, so many people would consider it very good for a single person. “Good” is always a relative term when it comes to salary; whether or not the amount you earn covers your expenses is a highly personal dynamic.

If you make $75,000 a year, you're earning more than half of all workers in the U.S. And in fact, many people would probably consider the salary as good pay. After all, a $75,000 salary works out to around $6,250 per month, $1,442.31 per week, or $36.06 an hour.

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps). Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year.

Is 60K a year poor? ›

A $60K salary is around $14,000 less than the median household income in the country — $74,580, per the most recent Census data — which falls in the bottom half of earners.

What Is Considered a Good Salary? Well, what makes a good salary depends on you, your needs, and your values. But for most folks, a good salary is one you can live on comfortably, meaning your basic needs, like food, utilities, housing, transportation and clothes, are taken care of each month without going into debt.

A good salary in California varies widely depending on location and industry, ranging from $50K to $100K. California ranks as the fourth most expensive state in the U.S. for living costs.

The average annual average salary in the U.S. is $63,795. The median annual salary, which is often less skewed by outlying numbers, is $59,384. It's worth noting that average and median salaries vary quite a bit by state.