This is the salary needed to live comfortably in Pennsylvania, according to a new report
As continuously rising prices are putting financial strain on Pennsylvanians, a new report tries to calculate how much people need to earn to live what's considered a comfortable lifestyle.
The financial website SmartAsset found that a single adult now needs at least $80,000 a year to live comfortably in every state. However, in Pennsylvania, a salary closer to $100,000 is required for what SmartAsset defines as financial comfort.
How much is needed in Pennsylvania?
In Pennsylvania, a single adult needs an annual, pretax income of $97,011 to live comfortably, according to SmartAsset. A family of four needs $247,936.
What does living comfortably mean?
To get its numbers, SmartAsset said it analyzed the living wage, which is what a full-time worker needs to earn to cover minimum basic needs, and adjusted it using the 50/30/20 budgeting rule. Under that rule, half of your salary goes to things you need, 30% goes to things you want, and 20% goes toward savings.
How Pennsylvania compares to other states
Out of the 50 states, Pennsylvania ranked 26th. In comparison, the most expensive states to live in are Massachusetts and Hawaii. Massachusetts requires a salary of $329,555 for a family of four, and a single adult needs $129,002 in Hawaii.
West Virginia is the least expensive state, with an income of $81,245 for a single adult and $202,592 for a family of four. Nearby Ohio is also comparatively inexpensive, with a salary of $87,360 needed for an adult and $226,221 needed for a family.
New Jersey is more expensive, requiring a salary of $113,776 for one person and $295,110 for four. Delaware is similar to Pennsylvania, with a salary of $98,966 needed for a single adult and $228,134 needed for a family of four.
