Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I largely agree with this take. This thread will be unproductive because everyone has their own idea of what it means to live comfortably.
For me, that answer would depend on many different things. For one, my standard of living expectations changed dramatically as I got older. "Comfortable" at 21 was being packed into a single room in a roach motel with friends. And I would have been fine flying in the middle seat of row 32 on the cheapest discount airline that had 3 connections on the way to my final destination. "Comfortable" today is my own room in nothing less than a 4-star hotel with airline status making anything less than Comfort Plus completely unacceptable.
So "comfortable" is not some objective thing, IMO. If you have a family and want to live in a good school district and take trips to Disney World once a year, then 85K might not cut it in any major metro area. If you're right out of college, you're probably living like royalty.
That is more than just comfortable. Also you are bringing family into it.
Being able to max out 401K contribution every year.
At least 20% of after tax income going towards savings
Having at minimum a studio/1BR in a Class A building or large 1BR to 2BR in a Class B building.
At least one international trip and another 3-4 domestic trips of shorter duration per year.
Brunch, movies or dinner with friends at an upscale restaurant once per week. Alcohol included.
Concerts maybe twice per year.
For a married person:
Same as above with respect to finances.
SFH in highly-rated school district
Disney or comparable vacation every year
2 later model vehicles (1 if living in urban area)
At least 10K into 529 plan annually for each child.
Music lessons, sports fees, etc.
That is more than just comfortable. Also you are bringing family into it.
"Comfortable" is totally subjective and does not necessarily mean "bare minimum to survive." I can personally tell you that I would not be comfortable not being able to take a trip to Jamaica or go to a concert without having to peek at my checking account balance first.
The problem is that people are going to come in here telling people what they should and should not be comfortable with. That's like telling someone what they should nor should not be attracted to in terms of a romantic partner.
I also think gender plays a role here since the experience of a guy making 70K and a woman making 70K will often be completely different. An attractive woman making 70K in a major city can enjoy the lifestyle of men making 5-6 times as much as her.
I recently had to fix this because I completely omitted Massachusetts for some reason so I fixed it and I think it shows the lengths families need to go to in order to have some semblance of 'comfort'---yes you can survive on much less, but actual comfort means you need to earn a little(or some times a lot) more.
City, State, Median Income, 2-Earner Families, 2021(MSA):
Here is a list of just the largest cities:
Largest Cities by Median Income, Two-Earner Families, 2021: San Francisco, CA $225,209
Washington, DC $210,935
Seattle, WA $209,584
San Jose, CA $187,105
Atlanta, GA $154,796
Oakland, CA $154,164
Austin, TX $148,172
Portland, OR $136,785
Denver, CO $136,463
San Diego, CA $135,250
Minneapolis, MN $128,211 Chicago, IL $125,139 Boston, MA $123,063
Raleigh, NC $120,420
Charlotte, NC $117,751
Tampa, FL $115,930 New Orleans, LA $114,297
Sacramento, CA $113,028
Virginia Beach, CA $112,876
Albuquerque, NM $112,871
Colorado Springs, CO $111,887 New York, NY $111,374
Long Beach, CA $110,675
Baltimore, MD $108,168 Los Angeles, CA $107,376
Fort Worth, TX $107,145
Nashville, TN $103,460
Kansas City, MO $101,544
Philadelphia, PA $101,490
Phoenix, AZ $99,164
Dallas, TX $98,194
Mesa, AZ $97,851
Indianapolis, IN $96,477
Louisville, KY $96,159
Jacksonville, FL $95,185
Las Vegas, NV $94,890
Oklahoma City, OK $94,445
Fresno, CA $92,472
Columbus, OH $92,103
Houston, TX $91,117
San Antonio, TX $85,713
Memphis, TN $84,433
Milwaukee, WI $81,537
Miami, FL $78,978
Tucson, AZ $77,366
El Paso, TX $75,708
Detroit, MI $70,590
Why do Boston NY and LA struggle so much when it comes to making money relative to their COL. Every time.
Being able to max out 401K contribution every year.
At least 20% of after tax income going towards savings
Having at minimum a studio/1BR in a Class A building or large 1BR to 2BR in a Class B building.
At least one international trip and another 3-4 domestic trips of shorter duration per year.
Brunch, movies or dinner with friends at an upscale restaurant once per week. Alcohol included.
Concerts maybe twice per year.
For a married person:
Same as above with respect to finances.
SFH in highly-rated school district
Disney or comparable vacation every year
2 later model vehicles (1 if living in urban area)
At least 10K into 529 plan annually for each child.
Music lessons, sports fees, etc.
In another word, you suffer from lifestyle creep...
"Comfortable" means you don't have to worry about not being able to pay rent / mortgage, don't have to penny-pinch when it comes to food, don't have to worry about an emergency, even a minor one, throwing a huge curveball, and get to splurge without worrying about how much that splurge is once every so often.
Most singles don't even have the time to take 5 vacations a year lol...
In another word, you suffer from lifestyle creep...
"Comfortable" means you don't have to worry about not being able to pay rent / mortgage, don't have to penny-pinch when it comes to food, don't have to worry about an emergency, even a minor one, throwing a huge curveball, and get to splurge without worrying about how much that splurge is once every so often.
Most singles don't even have the time to take 5 vacations a year lol...
By this standard, you could choose the smallest apartment in the worst part of town and be comfortable. Of course, "comfort" will have to account for each individual's tastes since some people won't be "comfortable' living in a squalid rathole in North Philly.
And taking 4-5 trips per year is nothing since most of those domestic trips will be extended weekends, often around holidays.
Whats any of this got to do with 2 earner families not making as much as in Chicago or similarly expensive cities like DC or Seattle.
young professionals, high portion of single household owners, lot more one bedroom and studio apts, more colleges and university students (Boston) and postgrads moving for a job (All three).
And at least for LA and NYC area, loooots of EJ communities and underserved communities. Not a high portion of white collar jobs for the population, especially for LA. Not sure about BOS.
I mean these cities only recently ascnded in housing prices and they are all very large places. Their COL rose way too fast for families to keep up.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
