Go-BankingRates says Houstonians need $56,223 to live comfortably. (Gordon: rent, mortgage)

[Jack Lance]

What does it take to get by in Houston? A new report, released this month by GO-BankingRates, calculated the annual income needed to live comfortably in the nation’s 50 largest cities. Here in Houston, the figure rings in at $56,223.

http://www.houstonchronicle.com/loca...3-11048770.php

What do you think, are you "comfortable" ?

[PinkLadyK]

Have to log in to view. Do they provide a budget? I can't see how you could save much on that amount, which is what makes me feel comfortable. I could live on that amount, certainly. I have lived on less. But I wasn't saving.

[Jack Lance]

Originally Posted by PinkLadyK

Have to log in to view. Do they provide a budget? I can't see how you could save much on that amount, which is what makes me feel comfortable. I could live on that amount, certainly. I have lived on less. But I wasn't saving.

Here is the article in its entirety


What does it take to get by in Houston? A new report, released this month by GO-BankingRates, calculated the annual income needed to live comfortably in the nation’s 50 largest cities. Here in Houston, the figure rings in at $56,223.
For many, that figure is out of reach. In Houston, the median household income is about $10,000 less than this total. This means many households are struggling. Others are just getting by.


In the 77023 ZIP code, families earn an average income of $56,246 —meaning that the typical family in this area east of downtown has about $23 to spare by the end of the year. Enough to cover the necessities, but not enough to get ahead.
The GOBankingRates report takes rent, utilities, grocery and transportation costs into account when determining the income threshold for each city. According to their analysis, Houstonians need to budget 50 percent of their income ($28,111) for necessities, 30 percent ($16,867) for discretionary spending and 20 percent ($11,245) for savings.
While families in 77023 can just barely swing this, there are many other parts of the city where people fall short. The ZIP code just below 77023 is 77053, on the southwest corner of the city. There, the $55,239 an average family earns in a year would miss the mark, leaving them treading water, at best.
While the income a family needs to live comfortably in Houston is actually falling — down $4,572 from last year — it’s still a high bar for many. Out of the 85 ZIP codes inside the Beltway, 35 have mean family incomes below GOBankingRates’ threshold. maggie.gordon@chron.com twitter.com/MagEGordon


http://www.houstonchronicle.com/loca...3-11048770.php

[Dopo]

Depends on how many people live in that household, how much they pay in mortgage and other things

[War Beagle]

Originally Posted by Dopo

Depends on how many people live in that household, how much they pay in mortgage and other things

Yep. Too many variables unless a person happens to adhere to their specific model.

[txdemo]

$56,223 is about half as comfortable as I need to be.

[lipbalm]

Like others said. It depends on your expenses. My first job out of school paid me 38k per year and I thought I was rich. My rent was 500 dollars per month with all utilities included. That was the life I tell you.

[Jack Lance]

Use your personal situation to determine the answer to the poll question...

[crone]

That income would seriously cut into my wine budget