Study Shows How Much Money You Need To Make To Live In Florida
Prices of daily goods, services, and needs, like rent, gas, and groceries, have gone through the roof due to rampant inflation. Because of this, the cost of life for millions of Americans has also gone up. Depending on where you live, it could be cheaper or more expensive. But what about Florida’s living wage? Let’s get into it!
So, GOBankingRates showed how much you need to make in each state to live comfortably. The website says that $57,064 is a good salary in Florida. Mind you, this salary is based on a SINGLE person. Do you think the data is accurate? What about in the Tampa Bay area?
Here are the top ten states with the highest living wages:
- Hawaii – $112,411
- Massachusetts – $87,909
- California – $80,013
- New York – $73,226
- Alaska – $71,570
- Maryland – $67,915
- Vermont – $65,915
- Oregon – $65,763
- Washington – $65,640
- New Jersey – $64,640
The researchers also disclosed the methods that they used to carry out their research for Florida’s living wage:
“The researchers used the 2021 Consumer Expenditure Survey data (the latest available) for a single person from the Bureau of Labor Statistics to calculate the annual cost of necessities based on data from the Missouri Economic Research and Information Center’s 2023 Q1 Cost of Living Data Series. With the cost of necessities in hand, researchers doubled the total annual cost of necessities to determine a living wage that also factors in discretionary spending and savings.”
The full report can be found by clicking here.