The cost of living has exponentially grown, especially in Dallas, where a new study found that an individual must earn at least $100,000 to live “comfortably.”
The study comes from Upgrade Points, a travel and financial advice company, that calculated comfortable living wages across American metro areas based on data from the Economic Policy Institute and U.S. Census Bureau.
According to the Dallas Morning News, researchers determined what was “comfortable” based on the 50/30/20 rule for budgeting, meaning 50% of a household’s spending should go toward necessities, 30% should go toward “wants,” and 20% should go toward savings.
The study says that a single adult in Dallas with no children must earn $107,000 to follow the 50/30/20 rule comfortably.
Two adults without kids need to earn a combined salary of $138,000, while two adults with one child need $184,000. A family of five needs $265,000.
DFW ranks as the 26th most expensive among 53 large metro areas, between Charlotte and Virginia Beach.
The most expensive metro in the U.S. for a single adult with no kids to live comfortably is San Jose-Sunnyvale-Santa Clara, CA, where one must earn $163,045.
LISTEN on the Audacy App
Sign Up and Follow 100.3 JACK-FM
Facebook | Twitter | Instagram