1. **Definition of Comfortable Living**:
To live "comfortably" as a single person in 99 of the largest U.S. metro areas, a median income of $93,933 is required. This "comfortable" lifestyle is defined by the 50/30/20 budget rule, where 50% of the income covers necessities like housing and utilities, 30% is for discretionary spending, and 20% is saved or invested. This analysis is based on data from the MIT Living Wage Calculator and extrapolated by SmartAsset.
2. **Cost of Living in the 25 Highest Cost Cities**: The income needed to live comfortably as a single person in the 25 most costly U.S. cities varies, with New York City topping the list at $138,570, while Houston is the lowest at $75,088.
3. **Cities with Highest Income Requirements**: Cities with the highest income requirements for comfortable living include New York City, San Jose, Irvine, Santa Ana, Boston, San Diego, Chula Vista, San Francisco, Seattle, Oakland, Arlington, Newark, Jersey, Long Beach, Anaheim, Honolulu, Los Angeles, Aurora, Portland, Riverside, Atlanta, Sacramento, Raleigh, Gilbert, and Glendale.
4. **Challenges in High-Cost Cities**: Large, high-cost cities such as New York, Los Angeles, Honolulu, San Francisco, and Seattle have high living expenses, particularly for housing. Notably, California's housing shortage contributes to 11 of its cities being among the most expensive places to live in, resulting in the need for higher salaries to afford a comfortable lifestyle.
5. **Housing Cost Challenges**: Despite higher-than-average salaries in these cities, maintaining a 50/30/20 budget can be difficult due to high housing costs. For instance, a third of New York City residents spend half of their income on rent, leading to adjustments in their budgets such as forgoing homeownership or reducing discretionary spending.
6. **Impact on Single Individuals**: Individuals living alone face significant financial strain, referred to as the "single tax," especially in terms of food, shelter, and transportation costs in large cities.
By using the 50/30/20 budgeting rule and considering the specific cost-of-living differences in major U.S. cities, individuals can better understand the income requirements for a comfortable lifestyle in their desired location.