This Is The Income Needed To Raise A Family In Each US State
This Is The Income Needed To Raise A Family In Each US State
Over 13 million families in the U.S. have https://www.statista.com/statistics/183790/number-of-families-in-the-us-by-number-of-children/
living at home.
This graphic,https://www.visualcapitalist.com/mapped-the-income-needed-to-raise-a-family-by-u-s-state/#google_vignette
compiled the data as of December 2024.
https://cms.zerohedge.com/s3/files/inline-images/Living-Wage-for-a-Family-of-Four.jpg?itok=tCwA_m3K
Methodology: GOBankingRates analyzed https://www.bls.gov/cex/notices/2024/annual-data-release-2023.htm
data from the Bureau of Labor Statistics to estimate annual living expenses for a family of four across all 50 states. Costs included housing, groceries, utilities, healthcare, and transportation.
Hawaii and Massachusetts at the Top
A six-figure household income is required to raise a family of four in 26 states.
High taxes, strict land-use rules, and shipping costs make Hawaii the priciest state for families. The state is followed by Massachusetts and California at the top of the list.
Rank
State
Salary Needed
1
Hawaii
$259K
2
Massachusetts
$200K
3
California
$188K
4
New York
$156K
5
Alaska
$137K
6
Maine
$136K
7
New Jersey
$135K
8
Vermont
$132K
9
Oregon
$132K
10
Arizona
$131K
11
Washington
$131K
12
Utah
$128K
13
Connecticut
$127K
14
New Hampshire
$124K
15
Rhode Island
$123K
16
Nevada
$113K
17
Colorado
$113K
18
Florida
$112K
19
Virginia
$111K
20
Idaho
$107K
21
Wisconsin
$107K
22
Delaware
$107K
23
North Carolina
$105K
24
Wyoming
$101K
25
Illinois
$100K
26
South Dakota
$100K
27
Ohio
$99K
28
Maryland
$99K
29
Pennsylvania
$98K
30
South Carolina
$98K
31
Montana
$97K
32
Minnesota
$97K
33
New Mexico
$96K
34
Texas
$96K
35
Louisiana
$95K
36
North Dakota
$95K
37
Georgia
$95K
38
Nebraska
$94K
39
Michigan
$94K
40
Indiana
$94K
41
Kentucky
$93K
42
Tennessee
$92K
43
Missouri
$92K
44
Iowa
$92K
45
Oklahoma
$91K
46
Arkansas
$88K
47
Kansas
$88K
48
Alabama
$88K
49
Mississippi
$88K
50
West Virginia
$82K
At the bottom, West Virginia, Alabama, and Mississippi are the cheapest states to raise a family. In comparison, a family in Hawaii ($259,000) needs to earn more than three times what a family in West Virginia ($82,000) needs to raise a family of four.
If you enjoyed this post, be sure to check out https://www.voronoiapp.com/money/-Breaking-Down-the-Average-Household-Budget-in-America-3598
, which shows what the average American household’s monthly budget looks like, including savings, taxes, and all other expenditure.
https://cms.zerohedge.com/users/tyler-durden
Sun, 01/26/2025 - 13:25
https://www.zerohedge.com/personal-finance/income-needed-raise-family-each-us-state