To live comfortably in Massachusetts, a single adult needs an annual salary of at least $116,022.
Understanding "Comfortable Living" in Massachusetts
Living comfortably in Massachusetts implies having enough income to cover essential needs, enjoy discretionary spending, and save for the future. This typically encompasses:
- Basic Needs: Housing, utilities, food, transportation, and healthcare.
- Wants: Discretionary spending on activities like entertainment, dining out, and hobbies.
- Savings: Contributions to retirement funds, emergency savings, and other financial goals.
The figures provided reflect an income level that allows individuals and families to meet these categories without financial strain.
Specific Salary Requirements for MA Residents
The salary required varies significantly based on household composition. Massachusetts has a high cost of living, which is reflected in the necessary income levels.
Here are the specific salary requirements:
| Household Type | Annual Salary Needed | Hourly Wage Needed |
|---|---|---|
| Single Adult | $116,022 | $55.78 |
| Family (2 working parents, 2 children) | $301,184 | N/A |
For a Single Adult
A single individual living in Massachusetts would need to earn approximately $116,022 per year to cover their basics, wants, and savings effectively. This translates to an hourly wage of about $55.78. This income level allows for financial stability and the ability to save for long-term goals without feeling deprived of modern conveniences.
For a Family
For a family consisting of two working parents and two children, the combined household income required to live comfortably in Massachusetts is significantly higher. Such a family would need a total annual income of around $301,184. This substantial figure accounts for the increased expenses associated with raising children, including childcare, education, larger housing needs, and additional daily living costs for multiple individuals.
