GoBankingRatesrecently determined the necessary living wage to live comfortably in each state using the 50/30/20 budgeting rule . This popular budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings. The study found how much you would need to earn to comfortably cover your basic needs while still having some discretionary income and saving for the future.
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi at $58,321. The state with the highest living wage is Hawaii at $136,437, more than double at Mississippi.
Just as the living wage varies in each state, so do the prices that can be charged for out-of-home entertainment and leisure experiences. Consumers in Mississippi will not pay as high a price as people in New York where the living wage is $95,724.
Here's the living wage breakdown for every state.