Living Wage Calculation for Missoula County, Montana
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $16.70 | $24.06 |
| Poverty Wage | $6.19 | $6.37 |
| Minimum Wage | $9.20 | $9.20 |
How much is average salary in Montana?
In 2021, the average annual pay of employees in Montana totaled to 51,322 U.S. dollars. This is an increase from 2001 levels, when this value stood at 25,195 U.S. dollars.
What state has the highest livable wage?
The District of Columbia has the highest livable wage for an individual, at $20.80 an hour or $43,258 a year. A family of four with two working adults requires $$112,551 annually to maintain a minimum standard of living.
What is the average livable salary in the US?
$68,808 per year
The living wage in the United States is $16.54 per hour, or $68,808 per year, in 2019, before taxes for a family of four (two working adults, two children), compared to $16.14 in 2018. The minimum wage does not provide a living wage for most American families.
What is middle class in Montana?
The common approach is to categorize the middle class as the group of earners at the center of the earnings scale, or the median.
How much you have to earn to be middle class in every state.
| State | Middle-class income | Median household income |
|---|---|---|
| Rhode Island | $62,691 | $71,169 |
| Arizona | $61,699 | $62,055 |
| Delaware | $60,015 | $70,176 |
| Montana | $59,496 | $57,153 |
What is upper class in Montana?
$37,460 is the 25th percentile. Salaries below this are outliers. $65,191 is the 75th percentile.
What state has the lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
How much money does a single person need to live comfortably?
This means a single person needs to make at least $66,434 after taxes to live comfortably. After their basic living expenses are covered, an individual could spend $19,930 on wants and set $13,287 aside for savings or debt paydown.
What is a good salary in US per month?
The average gross annual wage per full-time employee in the USA was $74,738 in 2021, or around $6,228 per month ($4,648/year more than in the previous year).
What is a good salary at 30?
From ages 25-34, the median wage is $60,000 and will increase to a median wage of $90,000 by ages 45-59. Compare that with a major in the health field, which has a median wage of $53,000 at ages 25-34 and grows to a median wage of $72,000 by ages 45-59.
How much does the average 30 year old make?
What was the average and median income by age in 2021?
| Age | 25% | Median |
|---|---|---|
| 29 | $24,615.00 | $41,085.00 |
| 30 | $25,000.00 | $40,560.00 |
| 31 | $28,000.00 | $45,000.00 |
| 32 | $26,001.00 | $45,330.00 |
What salary is upper class?
In 2021, the median household income is roughly $68,000. An upper class income is usually considered at least 50% higher than the median household income. Therefore, an upper class income in America is $100,000 and higher.
What is considered low income Montana?
Compare Jurisdictions
| Annual Income Needed to Afford | Montana | Billings HMFA |
|---|---|---|
| Zero-Bedroom | $25,786 | $25,240 |
| One-Bedroom | $28,715 | $29,000 |
| Two-Bedroom | $36,931 | $38,240 |
| Three-Bedroom | $50,841 | $52,840 |
What is the poverty line in Montana?
By this definition, the poverty threshold today for a family of four is roughly $26,000 annually; for an individual, that number is $13,000.
What is considered low income?
Poverty in the United States
In 2020, the median U.S. household income is $67,521. That’s 6.9% lower than the $69,560 median in 2019.
What is the average family income in Montana?
Table
| Population | |
|---|---|
| Transportation | |
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 18.4 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $56,539 |
What qualifies as rich?
Compared to 2021 standards, respondents to the 2020 survey described the threshold for wealth as being a net worth of $2.6 million.
What is considered a good income level in 2022 in the US?
Average salary in the US. According to the Bureau of Labor Statistics (BLS), the national average salary in 2020 was $56,310. In 2022 average salary in the US is $53,490 per year.
What is the best state to live in financially?
The five best states for your personal finances in 2022 are (No. 1 being best): Tennessee.
- New Jersey.
- Hawaii.
- Connecticut.
- Alaska.
- Illinois.
Where is the cheapest but nicest place to live in the US?
Coming in at the top of the C2ER list was Cedar Park, Texas, which was named the most affordable place to live in America. Set outside Austin, Cedar Park made it to the top of the list, due to its low cost of living index (7.2% below the national average) and high income levels (17.8% above the national median).
What’s the best state to live in 2022?
CNBC’s annual America’s Top States for Business study considers multiple measures of life, health and inclusion.
But these 10 states lead the way in Life, Health and Inclusion.
- Iowa.
- (tie) Oregon.
- (tie) New Jersey.
- Nebraska.
- Washington.
- Minnesota.
- North Dakota.
- Hawaii.