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Americans say money can buy happiness. Here's their price tag.
(www.cbsnews.com)
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this post was submitted on 21 Nov 2023
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$74k is a good wage for one person (and an okay wage for a couple) who lives in an area with a decent rental market, minimal college loans, a paid-off car, and good employer-supplied healthcare. It's when you start factoring in the actual costs of housing, cars, college, and healthcare - or adding in the cost of kids - that things become unmanageable.
Most of America, geographically, is significantly cheaper than people often think it is.
When you can get a 3br for $600, your median income doesn't need to be that high. Several states have a median income in the $40s - North Dakota is in the 30s, even.
These states are generally rural, as a rule, but they directly impact the national numbers.
If you just pulled cities of, say, greater than 200k people, I'm sure you'd see quite different numbers.
Most of America, geographically, is pretty far away from what people want to experience. Yes, rural is cheap, but there is a distinct lack of theater, variety of culture, and massive distances to anything other than outdoor recreation in those areas. It works for some people, but not for a lot of people.
Not to mention the lack of high paying local jobs. Sure, it is great for a technical person who can work remote and doesn't want to go to the clubs, but that isn't everyone.
Right but it does affect the median, which was my point.