Living Wage Calculator - Living Wage Calculation for North Carolina (2024)

FAQs

Living Wage Calculator - Living Wage Calculation for North Carolina? ›

Family-sustaining wages in North Carolina range from $16.83 per hour for one working adult living alone to $42.45 per hour for one working adult supporting three children.

Family-sustaining wages in North Carolina range from $16.83 per hour for one working adult living alone to $42.45 per hour for one working adult supporting three children.

The living wage is calculated by first establishing the cost for the basic but decent life in a specific region, inclusive of food, housing, education, healthcare, transportation, clothing and other essential needs for a family including unexpected events. The exact costs reflect local items and prices.

As of Jul 12, 2024, the average hourly pay for a Hourly in North Carolina is $22.57 an hour. While ZipRecruiter is seeing salaries as high as $38.45 and as low as $15.51, the majority of Hourly salaries currently range between $22.74 (25th percentile) to $25.34 (75th percentile) in North Carolina.

California. California's living wage is $19.41, or $40,371 a year for an individual. A family of four requires $27.42, or $101,378 a year.

The figure makes clear that location plays an important role in determining a living wage: For a family of two full-time working adults and two children, the living wage in 2022 for one of those adults spans between $18.75 and $40.16 in the lowest and highest cost counties, respectively.

The state's current minimum wage is the same as the federal benchmark—just $7.25 an hour—a sum that Shapiro has said is “not a livable wage in the year 2023.” That is unquestionably true. But here's the thing: Neither is $15 a livable wage for the vast majority of Americans.

Living wage refers specifically to the context of hired workers (in factories, on farms, etc.), whereas living income refers to any self-employed income earner, such as farmers.

Real Wage Rate: The average hourly wage rate measured in the dollars of a given reference base period. It shows that the quantity of goods and services that an hour work can buy. Real wage rate = (Nominal wage rate in current year/ CPI in current year) x 100%.

A family of four needs to earn at least $106,903 a year to cover their necessities in most U.S. states, a recent SmartAsset study reveals. The findings are based on cost estimates for housing, child care, transportation, health care, taxes and other common expenses, as tracked by the MIT Living Wage calculator.

What is a good salary for a single person in North Carolina? ›

According to the report, single adults need about $88,317 to live comfortably and families of four need $200,762.

The average cost of living in North Carolina was $38,295 a year. In 2022, the median price for a family home in North Carolina was $369,500. The average cost for electricity, water, and gas/fuel in North Carolina comes in at around $260 per month.

The national mean salary in the United States is $56,310 according to the National Compensation Survey. That works out to be $27 per hour. So in order to be above average, you have to earn more than $28 per hour. Why not be way above average and find a job that pays $30 more than the average hourly salary?

The living wage in the United States was $25.02 per hour in 2022 or $104,077.70 per year before taxes based on a family of four with two working adults and two children. 4 This varies by state, however.

SmartAsset says a single working adult must earn at least $114,000, or about $55 an hour, to support themselves in the Golden State. When it comes to a basic “living wage,” MIT says a single adult in California needs to earn $27.32 per hour or $56,800 per year.

$39,470 is the 25th percentile. Salaries below this are outliers. $66,427 is the 75th percentile.

In North Carolina, your annual income typically falls within a specific range, from $42,994 to $206,606, to be considered middle class. This depends on your family size. This article provides a detailed breakdown of these income ranges for various family sizes, from two-person households to families of seven.

In 2023, the federal poverty level definition of low income for a single-person household is $14,580 annually. Each additional person in the household adds $5,140 to the total. For example, the poverty guideline is $30,000 per year for a family of four.

Key Findings. On average, an individual needs $96,500 for sustainable comfort in a major U.S. city. This includes being able to pay off debt and invest for the future.