Salary Needed To Achieve the American Dream in 11 East Coast Cities

Life on the East Coast generally requires earning a substantial amount of money for a comfortable lifestyle. At a minimum, you would need to make at least $101,000 in Baltimore. Meanwhile, those residing comfortably in New York City must earn $220,000 annually.

GOBankingRates uncovered the salary needed to achieve the American dream in the 50 largest U.S. cities by doubling the cost of living and pulled each East Coast city to rank.

• Household income for the American dream: $220K
• Total annual cost of living: $110K
• Grocery costs per year: $10,565
• Average monthly mortgage cost: $4,656

• Household income for the American dream: $199K
• Total annual cost of living: $99K
• Grocery costs per year: $10,094
• Average monthly mortgage cost: $4,685

• Household income for the American dream: $187K
• Total annual cost of living: $94K
• Grocery costs per year: $10,339
• Average monthly mortgage cost: $4,165

• Household income for the American dream: $177K
• Total annual cost of living: $88K
• Grocery costs per year: $9,722
• Average monthly mortgage cost: $3,839

• Household income for the American dream: $141K
• Total annual cost of living: $70K
• Grocery costs per year: $8,952
• Average monthly mortgage cost: $2,577

• Household income for the American dream: $133K
• Total annual cost of living: $67K
• Grocery costs per year: $9,115
• Average monthly mortgage cost: $2,600

• Household income for the American dream: $133K
• Total annual cost of living: $66K
• Grocery costs per year: $9,088
• Average monthly mortgage cost: $2,453

• Household income for the American dream: $129K
• Total annual cost of living: $64K
• Grocery costs per year: $8,989
• Average monthly mortgage cost: $2,368

• Household income for the American dream: $115K
• Total annual cost of living: $58K
• Grocery costs per year: $8,989
• Average monthly mortgage cost: $1,753

• Household income for the American dream: $113K
• Total annual cost of living: $57K
• Grocery costs per year: $9,288
• Average monthly mortgage cost: $1,254

• Household income for the American dream: $101K
• Total annual cost of living: $50K
• Grocery costs per year: $8,880
• Average monthly mortgage cost: $1,059

Methodology: GOBankingRates analyzed the largest 50 cities based on population, along with the population ages 65 and over, total households and household median income, sourced from the U.S. Census American Community Survey. The cost-of-living indexes were sourced from Sperling’s BestPlaces. Using the cost-of-living indexes average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for a consumer unit of a married couple with children, the average expenditure cost for each location was calculated. The livability index was sourced from AreaVibes for each location and included as supplemental information. The average home value was sourced from Zillow Home Value Index for January 2025. Using the average home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage was calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living was calculated. Using the 50/30/20 rule that states that the needs should not exceed 50% of the household income, 30% for discretionary spending and 20% for savings, the total cost of living was doubled to find the household income needed to be comfortable and live the American Dream. All data was collected on and is up to date as of March 4, 2025.