The cost of living has changed a lot over the years, especially in North Carolina, where you need nearly six figures to live comfortably.
In a recent report, SmartAsset revealed how much income is needed to maintain a “comfortable lifestyle” across the country for single adults and families of four based on costs for housing, food, transportation, income taxes and other factors.
Using the ‘50/30/20 budget rule’ — with 50% of income for basic needs, 30% on wants and the remainder for savings — North Carolina ranked 25th among the most expensive states to live.
Cost of living in NC
Hourly wage needed for a single working adult: $43.12
Salary needed for a single working adult: $89,690
Salary needed across two working adults raising two children: $209,331
Across state lines, the cost of living needed to live comfortably in South Carolina is slightly cheaper. According to the report, single adults need about $88,317 to live comfortably and families of four need $200,762.
In comparison, Massachusetts is the most expensive state to live comfortably in overall. An income of $116,022 is needed for a single adult and two working adults raising two kids need about $301,184.
But the cheapest place to live, according to the report, is West Virginia, where a single adult can live comfortably off of $78,790. For families, an income of $189,363 is needed to cover basics, wants and savings.
You can find more information about the report and the cost of living in other states online at smartasset.com.
.jpg)