Here’s how much single adults in PA must earn to live comfortably in 2024, analysis says
Life is growing more expensive in the U.S., and living comfortably is increasingly not an easy feat.
So, what is a comfortable salary to live on as a single adult these days? That question was the subject of a recent analysis from financial company SmartAsset, which used the Massachusetts Institute of Technology Living Wage Calculator to review the basic costs of living for single working adults in each U.S. state.
In tandem with the calculator, SmartAsset applied the 50/30/20 rule, which recommends spending roughly 50% of a person’s income on basic needs like food and utilities, 30% on “wants” and desires and the rest on savings or paying off debt. This process resulted in estimations of hourly wages that would allow single adults and two-parent, two-child families to live comfortably in the U.S., plus rankings of all 50 states.
Here’s what you need to know about the findings for Pennsylvania and beyond.
How expensive is it to live comfortably in Pennsylvania?
Here in the Keystone State, a single working adult must earn at least $91,312 a year — or $43.90 per hour — to cover basic needs, common desires and savings, according to SmartAsset’s analysis. That ranking places Pennsylvania smack in the middle of the U.S. with the 24th-highest required salary, right between Maine and North Carolina.
SmartAsset’s report suggests a typical family with two working adults raising two children needs to make $230,464 per year to live comfortably in Pennsylvania. That ranks 20th in the nation behind Arizona and in front of Maine.
Locally, single working adults must make at least $23.15 per hour to support themselves in Centre County, according to the MIT Living Wage Calculator. Two adults supporting two children should each make at least $28.32 an hour to comfortably support their family, the online tool suggests.
Broadly speaking, necessities in the U.S. have grown more expensive over the past year.
According to the U.S. Bureau of Labor Statistics’ Consumer Price Index, the cost of all items rose 3.5% over that span. Overall food prices were up 2.2% over the year, while shelter (up 5.7%) and gasoline (up 1.3%) also saw increases. No measured category grew more expensive on average over the past year than transportation services, which is up roughly 10.7% over the past 12 months.
How does the rest of the US compare?
No state is estimated to have a higher cost of living than Massachusetts, where a single adult must earn at least $116,022 a year (or $55.78 per hour) to live comfortably, SmartAsset’s analysis says. Hawaii ($113,693 per year) and California ($113,651) followed closely behind as the second- and third-most expensive states for single working adults.
Estimated as the cheapest in the country, West Virginia requires a $78,790 salary to allow a single working adult to meet all basics, wants and needs, SmartAsset suggests. Arkansas ($79,456) and Oklahoma ($80,413) round out the bottom of the list.
Mississippi is the cheapest state for a two-parent, two-child family to live comfortably ($177,798), while Massachusetts ($301,184) again claimed the most expensive state.
You can read SmartAsset’s full study by visiting smartasset.com/data-studies/state-salary-living-comfortably-2024. Visit livingwage.mit.edu/ to explore living wage statistics for states, counties and metropolitan areas.
This story was originally published April 24, 2024 at 12:03 PM.
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