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Kevin J. Miyazaki
Sheboygan, Wis.
En español | Located on the western shore of Lake Michigan at the mouth of the Sheboygan River, the bustling waterfront of this small city provides its heartbeat. As the locals say, it may get cold, but it never gets old.
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Wynn Myers
Abilene, Texas
Don’t write off this small-city gem as a dusty relic. Still authentically Texan, it’s also an affordable trendsetter with a diverse population. With offerings far beyond steak and BBQ, it’s becoming a haven for foodies, too.
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Stephen DeVries
See AlsoGen Z: Here’s How Much You Should Have in Your Savings by 25Is $40,000 a Good Salary in 2022? | SoFiHow Much Money to Save When MovingHow Much Money Does It Take to Move Out of Your Parents’ House? - QuorumFort Walton Beach, Fla.
A laid-back island spirit informs this affordable city in Florida’s Panhandle. It’s growing fast and attracts lots of tourists, but that just means there’s always something to do.
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Jen Judge
Cleveland, Ohio
With its varied neighborhoods, world-class orchestra, thriving downtown, elite medical centers, miles of biking and hiking trails along Lake Erie and — finally!— championship sports teams (thanks, LeBron), this Rust Belt city is staging a mighty comeback.
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Brooke Fitts
Eugene, Oregon
Known for its bike-friendly culture and paths that crisscross the city, this northwestern hamlet has a distinctive resident blend that includes college students, arts enthusiasts and aging hippies. Sure, it rains a lot, but Eugene has carefully cultivated its image as an outdoors-lover’s paradise, and as the home of Nike, it may be the running capital of the world.
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Getty Images
Bristol, Va./Tenn.
If you like the outdoors or music or both, start packing. Spanning two states, this southeastern border town is ideal for fans of country music, NASCAR, lakes and mountains.
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Cañon City, Colo.
Plenty of people only discover this welcoming little haven when they’re out playing. Because it straddles the Arkansas River, it attracts plenty of river rafters, but also offers rock climbing, hiking and fishing. It lacks the sprawl, congestion and traffic that plague other Colorado towns and offers low unemployment and endless outdoor fun.
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Cheyenne, Wy.
Come for the authentic cowboy culture, affordable housing and tasty steaks. Beyond its Wild West street cred, the city is all business. Its recent reinvention has included the addition of lots of affordable housing — much of it built to woo downsizing Baby Boomers.
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Shutterstock
Rochester, N.Y.
This often overlooked upstate New York town — it’s the state’s third largest — offers a diverse, artsy lakeside setting and boasts top universities and stellar health care. And home cooks, take note: Wegmans, the much-loved supermarket chain, was born here.
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Sioux Falls, S.D.
The city ranks high on happiness measures, with abundant outdoor activity, a strong sense of community and a friendly spirit. More upsides: There’s no state income tax and one of the lowest unemployment rates in the country.
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FAQs
Can you live off $42,000 a year? ›
This will be harder to achieve in some places than others, but it is possible. If you live in a state like Iowa, Louisiana, or Montana, where average monthly rent for a one-bedroom is below $800, you can comfortably afford to live alone. That's as long as you don't splurge on the fanciest or largest housing options.
Where can I live with $40,000? ›- Kevin J. Miyazaki. Sheboygan, Wis. ...
- Wynn Myers. Abilene, Texas. ...
- Stephen DeVries. Fort Walton Beach, Fla. ...
- Jen Judge. Cleveland, Ohio. ...
- Brooke Fitts. Eugene, Oregon. ...
- Getty Images. Bristol, Va./Tenn. ...
- Getty Images. Cañon City, Colo. ...
- Getty Images/Gallo Images. Cheyenne, Wy.
A retirement income of $2,500 a month will pay for a comfortable and secure lifestyle in many places in the United States.
Is $40,000 a year poverty? ›Well, it depends. A $40,000 salary may be sufficient for an individual in a low-cost area, but it may not be enough for a family to live comfortably in most parts of the US. Rising inflation has made it more challenging to live on a $40,000 salary, but it still exceeds the poverty threshold for families.
Is $20 an hour a livable wage? ›By this yardstick, 90% of Americans reside in a county where, to make a family living wage, they need to earn at least $20 an hour. Yet, some 36% of American workers fall short of the $20 threshold.
Is $25 an hour a livable wage? ›An analysis of the living wage (as calculated in December 2022 and reflecting a compensation being offered to an individual in 2023), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: The living wage in the United States is ...
What is $25 an hour annually? ›If you make $25 an hour, your yearly salary would be $52,000.
How much is $40,000 a year per hour? ›$40,000 a year is how much an hour? If you make $40,000 a year, your hourly salary would be $19.23.
What is $60,000 a year hourly? ›A $60,000 annual salary is equivalent to earning a $28.85 hourly wage, or $230.80 each day. This is based on the employee working for eight hours a day, 52 weeks a year. To calculate your specific per hour rate, divide $60,000 by the number of hours that you work.
Where to retire on $2 500 per month? ›Joining Akron in the top five cities is Pampa, Texas, in second, followed by Robstown, Texas, Johnstown, Pennsylvania, and Borger, Texas. As for the absolute cheapest place to live, that would be Jackson, Mississippi, where a retiree can expect a total monthly expenditure of $2,159.
What annual salary is enough to live comfortably? ›
Key Findings. On average, an individual needs $96,500 for sustainable comfort in a major U.S. city.
What yearly salary do you need to live comfortably? ›In California, you need to earn $80,013, the study states.
What percent of Americans make under $40000? ›| Income range | Number of people | Proportion (%) |
|---|---|---|
| At or below | ||
| $35,000 to $37,499 | 7,769,000 | 47.51 |
| $37,500 to $39,999 | 4,304,000 | 49.31 |
| $40,000 to $42,499 | 8,576,000 | 52.90 |
According to the most recent report from the U.S. Census Bureau, the poverty threshold for a family of four is $29,960. For an individual, the poverty threshold is $14,891.
What car can I afford with a 40K salary? ›on the price of a car. is not to exceed 35% of your gross income. That means if you make $40,000 a year, the cars price should not exceed $14,000. If you make $80,000, the cars price should be below $28,000. And at 150 k salary, that means your max car price should be 50 2500.
What is a good income to live off of? ›An individual must earn $96,500 a year before taxes to afford housing, groceries, transportation and entertainment, while also paying off debt and putting some money into savings, according to personal finance website SmartAsset.
How much money a year is livable? ›In California, you need to earn $80,013, the study states.
Is $40,000 a year a livable wage? ›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.
What is a livable hourly wage? ›| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 3 Children | |
| Living Wage | $27.32 | $40.24 |
| Poverty Wage | $7.24 | $8.79 |
| Minimum Wage | $16.00 | $16.00 |