New Jersey Among the 10 Most Expensive States for Singles

Married couples enjoy financial advantages that singles don't have.  These days, many, if not most married couples, have two streams of income coming in.  Paying the bills is easier with two incomes.

Of course, the other side of that, is married couples have more expenses.

For those who are single, finding a nice place to live, where your earnings can afford you a comfortable way of life can be a challenge.

The financial people at Go Banking Rates did a study to determine the optimum living wage a single person would need in each state, in order to live comfortably.

The report used the 50/30/20 budget model, to determine their findings.  That is, 50% of income goes towards needs, 30% of income goes to discretionary spending, and 20% goes towards savings.

The results of their research didn't yield many surprises.  If you're single and you want to live in an area attractive to tourists, it's going to cost you.

As is usually the case, New Jersey is one of the most expensive states for singles to live in.  The state of New Jersey placed number 10 on the list.

The report suggests a single person in New Jersey would need an income of $64,430 to live comfortably.  Of course, it would depend on where you choose to live in the state.

The most expensive state for singles to live in is Hawaii.  Singles in Hawaii would need an income of $112,411.  That is by far, the most expensive state for singles, or couples for that matter.  Interestingly, according to ZipRecruiter, the average salary there is only $52,457.

The least expensive state for singles to live in?  Tennessee singles need $48,774 according to the report.

The 10 Most Expensive States for a Single Person (msn.com)