Here Is How Much Money You Need To Thrive In Sacramento
Do you feel like you’re struggling just to live a normal life in Sacramento? How much money is enough? You’ll be surprised.
By Marilyn Nelson on June 17, 2019
A recent study by GOBankingRates determined how much you need to live “comfortably” in 50 major cities across America. The formula used in the study divides a person’s income into three sections, 50% of income for necessities, 30% for fun and 20% for saving. The popular 50/30/20 formula used to stay on track financially.
Those of us attempting to thrive in Sacramento – where the median income is $54,615 – need to make at least $94,160 a year if you’re a homeowner in order to live a comfortable lifestyle. That’s a whopping $39,545 gap between the ideal wage and reality for most Sacramentans.
For renters you’re shooting for $92,336 – a $37,721 gap between the city’s median income and a comfortable living.
In San Francisco, the gap is a mind-numbing $134,021. No wonder bay area folks are migrating inland.
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