Living Wage Calculation for New Jersey
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $16.20 | $35.18 |
| Poverty Wage | $6.13 | $12.60 |
| Minimum Wage | $11.00 | $11.00 |
Contents
What is a good salary to live in New Jersey?
The report defines “afford” as spending no more than 30 percent of your gross income on rent. That translates to an annual salary of $56,810 per year. To live in a one-bedroom apartment, you need to make $46,619 per year on average.
What is a good yearly salary in New Jersey?
While ZipRecruiter is seeing salaries as high as $129,841 and as low as $19,571, the majority of salaries within the Average jobs category currently range between $47,257 (25th percentile) to $70,648 (75th percentile) with top earners (90th percentile) making $85,923 annually in New Jersey.
What is living wage NJ?
A living wage for a person with one child to support is $24.79 in New Jersey. For two working adults with one child, it’s $13.49. Not even a single adult worker who is only supporting themselves can afford to make $10.70 as a retail salesperson in New Jersey, where the living single, no kids wage is $12.51.
What salary is considered livable?
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
What is upper class salary?
What Is a Middle-Class Income?
| Income group | Income |
|---|---|
| Lower-middle class | $32,048 – $53,413 |
| Middle class | $53,413 – $106,827 |
| Upper-middle class | $106,827 – $373,894 |
| Rich | $373,894 and up |
What salary is middle class in NJ?
The overall average in New Jersey for what is considered to be middle class income for a family of four is between $60,000 and $177,000 a year. According to Rutgers University economist James Hughes, “middle class” can mean many things these days.
What’s a comfortable salary in NJ?
$27,686 is the 25th percentile. Salaries below this are outliers. $42,484 is the 75th percentile.
What is upper class in New Jersey?
Here’s how much you have to earn to be in the top 5% in the Garden State: Average top 5% annual income: $475,827. Minimum threshold needed to make the top 5%: $250,000.
Is New Jersey an expensive place to live?
An amount below 100 means New Jersey is cheaper than the US average. A cost of living index above 100 means New Jersey, New Jersey is more expensive.
New Jersey cost of living is 120.4.
| COST OF LIVING | New Jersey | United States |
|---|---|---|
| Median Home Cost | $397,900 | $291,700 |
| Utilities | 109.2 | 100 |
| Transportation | 127.7 | 100 |
What is a good salary?
According to the census, the national average household income in 2019 was $68,703. A living wage would fall below this number while an ideal wage would exceed this number. Given this, a good salary would be $75,000.
What is considered low income in NJ?
By Carla Astudillo | NJ Advance Media for NJ.com
A New Jersey family of four in 2018 has to earn $71,900 a year or less to be considered low-income, according to the Department of Housing and Urban Development — an almost six percent increase from last year.
What is middle class in New Jersey?
New Jersey households must make at least $39,920 to reach middle class, study finds. (The Center Square) – In New Jersey, households must earn a minimum of $39,920 per year to be considered middle class, with the upper earnings boundary set at $197,868, according to a new 24/7 Wall St. analysis.
What is a livable yearly salary for one person?
Depending on where you live in the United States, the amount needed to live comfortably can vary greatly. While you can get by as a single person on a $22,000 annual salary in Kentucky or Arkansas, you’ll need at least $30,000 in Hawaii or Maryland.
How much do you need to live comfortably?
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
What percentage of Americans make over 100k?
Percentage distribution of household income in the U.S. in 2020
| Annual household income in U.S. dollars | Percentage of U.S. households |
|---|---|
| 75,000 to 99,999 | 12.2% |
| 100,000 to 149,999 | 15.3% |
| 150,000 to 199,999 | 8% |
| 200,000 and over | 10.3% |
What salary is considered middle class for a single person?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Family of four |
|---|---|---|
| California | $29,851 – $89,552 | $59,702 – $179,105 |
| Colorado | $26,876 – $80,629 | $53,752 – $161,257 |
| Connecticut | $28,364 – $85,091 | $56,727 – $170,181 |
| Delaware | $26,146 – $78,437 | $52,291 – $156,873 |
What is high income for a single person?
For its purposes, the Pew Research Center considers a household to be upper class if its income is double the U.S. median household income. This means that, on average, a single person living alone needs to make just $78,281 to be considered upper class.
What is high income in NJ?
(The Center Square) – Those who bring in at least $701,005 in yearly income are among the top 1 percent of earners in New Jersey, according to a 24/7 Wall St. analysis of the ultra wealthy in every state. The $701,005 threshold was the fourth highest among the 50 states, according to the analysis.
What is considered rich in NJ?
If you have an annual salary of above $250,000, then congratulations, you are considered rich in New Jersey. The Garden State is one of only 8 states that need at least a $250,000 annual salary to be considered rich.
What is the largest ethnic group in New Jersey?
The 5 largest ethnic groups in New Jersey are White (Non-Hispanic) (54.3%), White (Hispanic) (12.8%), Black or African American (Non-Hispanic) (12.7%), Asian (Non-Hispanic) (9.56%), and Other (Hispanic) (5.9%).
