California Ranks as Third Most Expensive State for Single Living, Requiring an $80,013 “Living Wage”

A recent study conducted by GOBankingRates, a finance website, has placed California as the third most costly state to reside in for single individuals. The study examined annual living expenditures for singles across all 50 states and drew upon data from the U.S. Bureau of Labor Statistics.

According to the survey’s findings, a minimum income of $80,013 per year is necessary to attain a “living wage” in California. This calculation takes into account the cost of essential needs while also allowing for discretionary spending and savings contributions. This hardly comes as a surprise to residents of San Francisco, where a net worth of $1.7 million is considered the threshold for achieving “financial comfort,” and an astonishing $4.7 million is required to attain the status of “wealthy.”