"You Need an Annual Salary of $184,000 for a Stable Life"... The 'Staggering' Income Required in Major U.S. Cities

Analysis of Appropriate Annual Salaries in Major U.S. Cities
50% for Living Expenses, 30% for Leisure, 20% for Savings
San Jose, California Tops the List with $264,946 Needed for a Comfortable Life

An analysis has found that a single person needs an annual income of $184,420 (approximately 264.6 million won) to live a comfortable life in New York, United States.

According to the New York Post on October 11 (local time), financial information website GoBankingRates calculated the appropriate annual salary required to lead a "satisfying life" in 59 major cities across the United States, based on data obtained last year from the U.S. Census Bureau and the Bureau of Labor Statistics under the Department of Labor.

New York City skyline. Getty Images

This calculation was based on the "50·30·20 financial rule," which allocates 50% of income to living expenses, 30% to leisure, and 20% to savings.

According to this formula, the annual income estimated to be necessary for a single person to make ends meet in New York is $92,210 (approximately 132.3 million won). The research team assessed that about twice this amount would be required to ensure a stable and comfortable lifestyle.

GoBankingRates explained that, considering a significant number of Americans own homes, the analysis focused on home prices rather than rent. However, in New York, the proportion of renters is higher than that of homeowners, and many people pay much higher rents than the average monthly mortgage payment. Therefore, in reality, an income higher than $184,420 may be necessary.

However, the report also noted that many single people share housing costs with roommates, allowing them to maintain a certain standard of living with relatively lower incomes.

Citizens shopping in California. Photo by AFP Yonhap News

Meanwhile, among major U.S. cities, the place requiring the highest annual salary for a "comfortable life" was found to be San Jose, California. The analysis showed that $264,946 (approximately 380.1 million won) is needed in this region.

This was followed by San Francisco at $251,398 (approximately 360.6 million won), San Diego at $206,353 (approximately 296 million won), and Los Angeles at $194,920 (approximately 279.6 million won).