How much do single people need to make to ‘live comfortably’ in Las Vegas?
A new analysis determined that a single person residing in Las Vegas or Henderson needs to make over $100,000 in order to “live comfortably.”
According to GOBankingRates, with Valentine’s Day quickly approaching, the website’s researchers analyzed “the rising cost of being single in America’s 100 largest cities.”
The website said that in order to complete the analysis, researchers reviewed Bureau of Labor Statistics data for single residents. More specifically, according to GOBankingRates, “they uncovered the average monthly and annual expenditures for each of the 100 largest cities.”
According to the site, its team then identified the average mortgage cost in each of these cities using data from Zillow.
Using the “50/30/20 budgeting rule,” which states that needs should take up no more than 50 percent of your income, GOBankingRates said researchers doubled the annual cost of living (expenditures and mortgage) to determine the salary single people need to live comfortably.
The study found that in order to live comfortably in Las Vegas, a single person needs to make $102,507.
The research said the median household income in Las Vegas is $70,723, and the average monthly cost of living is $4,271.
By comparison, a single person living in Henderson will need to make even more, according to the study.
To live comfortably in Henderson, GOBankingRates found that a single person needs a salary of $109,803. The study stated the median household income in Henderson was $88,654, and the average monthly cost of living is $4,575.
While you need to make over $100,000 to live comfortably in Las Vegas or Henderson, the number is slightly lower if you opt for North Las Vegas.
According to the study, in order to live comfortably in North Las Vegas, a single person would need to make $97,221. The analysis listed the median household income for North Las Vegas at $76,772, and the average monthly cost of living at $4,051.
The study determined that Irvine in Southern California requires the highest salary ($291,586) and Cleveland requires the lowest ($47,874).
