According to SmartAsset, which calculated the income a family needs to live comfortably in every US state using the MIT Living Wage Calculator, Massachusetts is the most costly state to live comfortably, and Mississippi is the cheapest.
To live comfortably, a family in the five most expensive states in the union needs an annual salary of more than $270,000.
This graphic, created by Bruno Venditti of Visual Capitalist, shows how much money two working adults and two kids would need to make ends meet in each state.
The term "comfortable" refers to the amount of money required to meet a 50/30/20 budget, which allocates 20% to savings or investments, 30% to discretionary expenditure, and 50% to needs like housing and utilities.
The MIT Living Wage Calculator, which was last updated on February 14, 2024, provided the cost of needs for SmartAsset's calculations of the required family income in each state.
Massachusetts Tops the List
The most costly state to live co...
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