The Value of an $80K Income in Each State

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As we step into 2024, gaining perspective on how far a household income of $80K stretches across the U.S. is crucial. The median income in the country stands at around $61,984 annually, highlighting that an $80,000 income positions you comfortably within the middle class. Nevertheless, where you live dramatically impacts your financial comfort. An $80K salary can feel different for residents in Hawaii compared to those in West Virginia, due to the varied cost of living. Hence, knowing the regions where your $80K will stretch further can empower strategic living decisions.

How does an $80,000 salary withstand the expenses across different states? To address this question, GOBankingRates embarked on an in-depth analysis to evaluate the buying power of an $80,000 salary in each state. Our study leverages multiple data sets to pinpoint the contrasts and similarities, offering a comprehensive glimpse into state-specific economic dynamics.

Where $80K is Outmatched: Hawaii’s High Cost

• Cost of living index: 186.9
• Annual expenditure cost: $134,379
• Percentage of $80K covering expenses: 60%

Strategies for Wise Spending in Massachusetts

• Cost of living index: 145.9
• Annual expenditure cost: $104,901
• Percentage of $80K covering expenses: 76%

Adapting Lifestyle in California’s Vibrant Economy

• Cost of living index: 144.8
• Annual expenditure cost: $104,110
• Percentage of $80K covering expenses: 77%

Alaska’s Unique Living Cost Challenges

• Cost of living index: 123.8
• Annual expenditure cost: $89,011
• Percentage of $80K covering expenses: 90%

Evaluating New York’s Diverse Financial Landscape

• Cost of living index: 123.3
• Annual expenditure cost: $88,651
• Percentage of $80K covering expenses: 90%

Analyzing how far $80,000 goes helps in making informed decisions about relocating or managing finances within your current state. As showcased, the cost of living variance across states demands attention when considering the real value of your income. For more personal finance advice and strategies, don’t hesitate to Click Here For More Personal Finance tips and strategies.

Research Methodology: GOBankingRates analyzed national average annual expenditures for earners within $70,000 to $99,999, using data from the Bureau of Labor Statistics’ 2023 survey. State-specific annual expenditure estimates emerged from adjusting this national figure with the Missouri Economic Research and Information Center’s cost of living indices for 2024. Additionally, GOBankingRates determined how much an $80,000 salary can cover by dividing it by each state’s expenditure estimate, ranking all states and D.C. based on where money stretches farthest. More detailed cost insights include average annual expenses across core categories like groceries and housing, derived from MERIC’s indices. This data is update as of March 5, 2025.