The Entrepreneurs Weekly
No Result
View All Result
Saturday, May 31, 2025
  • Login
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
Subscribe
The Entrepreneurs Weekly
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
No Result
View All Result
The Entrepreneurs Weekly
No Result
View All Result
Home Business

10 Most Expensive States for Singles to Meet Basic Needs | Entrepreneur

by Brand Post
August 30, 2023
in Business
0
10 Most Expensive States for Singles to Meet Basic Needs | Entrepreneur
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Life is expensive, and in these states, it’s even worse.

With the ongoing surge of the cost of living, the minimum income required for an individual to sustain themselves has risen across the entire nation. The July 2023 Consumer Price Index reported a 3.2% escalation in prices within the last 12 months on the “all items index.”

But if you’re looking to move or relocate for a job, there are some states you might need to avoid—or ask for more money—depending on your income.

Personal finance platform GOBankingRates recently conducted a survey on the living costs for a single person in all 50 states to find the average annual wage one needs to sustain themselves in 2023 and found that Hawaii is the No. 1 state with the highest minimum living wage for singles to get by.

To calculate the yearly expenses for essentials, the researchers used data from the 2021 Consumer Expenditure Survey from the Bureau of Labor Statistics, focusing on costs for a single person. After obtaining the essential cost data, researchers then doubled it to calculate a living wage, accounting for discretionary expenditures and savings.

In Hawaii, a single individual needs a six-figure income of $112,411 to meet basic needs. The state with the second highest is Massachusetts at $87,909, followed by California at $80,013, and New York at $73,226.

Given that housing constitutes a large portion comprising a living wage, it’s no accident that the states requiring the highest average income for an individual have all seen competitive and skyrocketing housing prices. According to a separate report by RentCafe released in August, the four states with the highest living wage requirements are also among the ranks for the most expensive average rent in the country.

Related: 7 of the 10 Most Expensive Cities to Live in the U.S. Are in One State

Here are the 10 states in the U.S. with the highest minimum living wages for an individual in 2023, according to the report, as well as the average rent, per RentCafe.

1. Hawaii

Income required: $112,411

Average rent for a one-bedroom apartment: $2,532

2. Massachusetts

Income required: $87,909

Average rent for a one-bedroom apartment: $2,737

3. California

Income required: $80,013

Average rent for a one-bedroom apartment: $2,541

4. New York

Income required: $73,226

Average rent for a one-bedroom apartment: $2,660

5. Alaska

Income required: $71,570

Average rent for a one-bedroom apartment: $1,397

6. Maryland

Income required: $67,915

Average rent for a one-bedroom apartment: $1,816

7. Vermont

Income required: $65,923

Average rent for a one-bedroom apartment: $1,895

8. Oregon

Income required: $65,763

Average rent for a one-bedroom apartment: $1,735

9. Washington

Income required: $65,640

Average rent for a one-bedroom apartment: $1,988

10. New Jersey

Income required: $64,463

Average rent for a one-bedroom apartment: $2,228





Source link

Tags: BasicBusiness Newscost of livingentrepreneurExpensiveinflationMeetMinimum WageNews and TrendsSalariesSalarySinglesStates

Related Posts

This 0 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur
Business

This $200 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur

May 31, 2025
What Every Brand Gets Wrong About Using AI | Entrepreneur
Business

What Every Brand Gets Wrong About Using AI | Entrepreneur

May 31, 2025
Improve Your Productivity with Windows 11 Pro for Just  | Entrepreneur
Business

Improve Your Productivity with Windows 11 Pro for Just $15 | Entrepreneur

May 31, 2025
  • Trending
  • Comments
  • Latest
Meet Amir Kenzo: A Well Known Musical Artist From Iran.

Meet Amir Kenzo: A Well Known Musical Artist From Iran.

August 21, 2022
Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

April 20, 2024
Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

May 10, 2024
Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

August 8, 2024
Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

0
U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

0
GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

0
Brad Winget’s Tips and Tricks on Having a Career in Real Estate

Brad Winget’s Tips and Tricks on Having a Career in Real Estate

0
This 0 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur

This $200 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur

May 31, 2025
What Every Brand Gets Wrong About Using AI | Entrepreneur

What Every Brand Gets Wrong About Using AI | Entrepreneur

May 31, 2025
Improve Your Productivity with Windows 11 Pro for Just  | Entrepreneur

Improve Your Productivity with Windows 11 Pro for Just $15 | Entrepreneur

May 31, 2025
Turn Your Side Hustle Into a 7-Figure Business With These 4 AI Growth Hacks | Entrepreneur

Turn Your Side Hustle Into a 7-Figure Business With These 4 AI Growth Hacks | Entrepreneur

May 31, 2025

The EW prides itself on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

Transcending the bounds of Chicago to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

NEWS

  • Business
  • Politics
  • Entrepreneurship
  • Entertainment
Instagram Facebook

© 2024 Entrepreneurs Weekly.  All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
  • POLITICS
  • BUSINESS
  • CONTACT US
  • ADVERTISEMENT

Copyright © 2024 - The Entrepreneurs Weekly

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In