The analysis conducted by GOBankingRates highlights the financial challenges of living comfortably as a single person in various U.S. cities, focusing on Las Vegas, Henderson, and North Las Vegas. By examining data from the Bureau of Labor Statistics and Zillow, the study utilized the 50/30/20 budgeting rule to calculate the necessary income for comfort.
For Las Vegas, a single person needs an income of $102,507 annually to cover living costs and mortgage without exceeding 50% of their income on needs. The median household income in Las Vegas stands at $70,723, with a monthly living cost of $4,271.
In Henderson, the required income rises to $109,803, reflecting a monthly living cost of $4,575 and a median household income of $88,654.
North Las Vegas presents a slightly more affordable option, with a necessary income of $97,221. Here, the median household income is $76,772, and the average monthly cost of living is $4,051.
The study also provides a broader perspective, noting that Irvine, California, demands the highest salary for comfortable living at $291,586, while Cleveland, Ohio, requires the lowest at $47,874. These figures underscore the varying economic landscapes across the country and the significant financial demands in certain regions.