That figure includes estimates for how much a single-person household needs to cover housing, transportation, health care, taxes and other common expenses, as tracked by the MIT Living Wage calculator.
At a median of $17,000, housing costs in the 15 most expensive states are nearly double that of the 15 least expensive states.
Unsurprisingly, housing costs are higher in states with large cities, like California and New York.
Unfortunately, minimum wage won't cover basic expenses in any state, even for states that far exceed the federal minimum hourly wage of $7.25.
MIT's Living Wage calculator is based on data from various federal agencies, adjusted for inflation as of December 2023.
Organizations:
MIT, Rhode, CNBC
Locations:
Massachusetts, U.S, West Virginia, Hawaii, California, York, Washington, Colorado, Jersey, Maryland, Oregon, Connecticut, Virginia, Hampshire, Arizona, Georgia, New York, Big