Do you think that you make enough money to live comfortably? Some states are cheaper to live in than others, but the Golden State is among the most expensive places to live in the country. With only Hawaii and Massachusetts ranking above it, living in much of California does not come cheap. While it is more expensive to live in urban areas, the following information also factors in the cost of living in rural areas.
According to a list compiled by Go Banking Rates, a single person needs to make an average of $80,013 to live comfortably in California in 2023.
Here's what Go Banking Rates had to say about compiling the data to discover how much a single person needs to make to live comfortably in each state:
"GOBankingRates recently surveyed annual living expenses for a single person in each of the 50 states. The researchers used the 2021 Consumer Expenditure Survey data (the latest available) for a single person from the Bureau of Labor Statistics to calculate the annual cost of necessities based on data from the Missouri Economic Research and Information Center’s 2023 Q1 Cost of Living Data Series. With the cost of necessities in hand, researchers doubled the total annual cost of necessities to determine a living wage that also factors in discretionary spending and savings."