The Living Wage a Family Needs in 20 of the Most Affordable Major Cities

Sean Pavone / Getty Images/iStockphoto

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Where you live matters. More than just a place to call home, the city in which you reside can largely dictate your standard of living.

GOBankingRates recently conducted a study to determine the living wage a family needs in several major cities across the U.S. The results revealed a major discrepancy in the cost of living between cities in a variety of states.

As of May 2022, the mean annual wage in the U.S. is $61,900 — or $29.76 per hour — according to the Bureau of Labor Statistics. Interestingly, this is lower than the living wage needed for a family in all the cities included in the survey. Of course, many households have two incomes these days to make up the difference — but many also still live paycheck-to-paycheck regardless.

Given this, it might not be too surprising that 37.9 million people — 11.6% of the U.S. population —  live in poverty, according to the U.S. Census Bureau. Factors like inflation and high interest rates likely haven’t helped matters either.

Curious about which major cities are the most affordable? Keep reading to find out.

20. Detroit

• Monthly cost of living (married couple only): $3,555.47
• Monthly cost of living (married couple with children): $4,424.62
• July 2023 Zillow home value index: $65,978.43
• July 2023 Average mortgage cost: $402.26
• Total monthly cost (married couple only): $3,957.73
• Total monthly cost (married couple with children): $4,826.88
• Total annual cost (married couple only): $47,492.78
• Total annual cost (married couple with children): $57,922.60
• Living wage needed (married couple only): $94,985.57
• Living wage needed (married couple with children: $115,845.20

19. Mobile, Alabama

• Monthly cost of living (married couple only): $2,810.06
• Monthly cost of living (married couple with children): $3,305.53
• July 2023 Zillow home value index: $184,754.14
• July 2023 Average mortgage cost: $1,126.43
• Total monthly cost (married couple only): $3,936.49
• Total monthly cost (married couple with children): $4,431.96
• Total annual cost (married couple only): $47,237.90
• Total annual cost (married couple with children): $53,183.48
• Living wage needed (married couple only): $94,475.79
• Living wage needed (married couple with children: $106,366.97

Read: Jaspreet Singh Says America’s Economy Is About To Get a Reality Check, Here’s Why

18. Fayetteville, North Carolina

• Monthly cost of living (married couple only): $2,684.57
• Monthly cost of living (married couple with children): $3,132.52
• July 2023 Zillow home value index: $201,489.67
• July 2023 Average mortgage cost: $1,228.47
• Total monthly cost (married couple only): $3,913.03
• Total monthly cost (married couple with children): $4,360.99
• Total annual cost (married couple only): $46,956.37
• Total annual cost (married couple with children): $52,331.85
• Living wage needed (married couple only): $93,912.73
• Living wage needed (married couple with children: $104,663.71

17. Lubbock, Texas

• Monthly cost of living (married couple only): $2,619.25
• Monthly cost of living (married couple with children): $3,042.57
• July 2023 Zillow home value index: $209,271.04
• July 2023 Average mortgage cost: $1,275.91
• Total monthly cost (married couple only): $3,895.15
• Total monthly cost (married couple with children): $4,318.48
• Total annual cost (married couple only): $46,741.84
• Total annual cost (married couple with children): $51,821.77
• Living wage needed (married couple only): $93,483.68
• Living wage needed (married couple with children: $103,643.53

16. Fort Wayne, Indiana

• Monthly cost of living (married couple only): $2,556.26
• Monthly cost of living (married couple with children): $3,026.95
• July 2023 Zillow home value index: $219,512.88
• July 2023 Average mortgage cost: $1,338.35
• Total monthly cost (married couple only): $3,894.61
• Total monthly cost (married couple with children): $4,365.30
• Total annual cost (married couple only): $46,735.27
• Total annual cost (married couple with children): $52,383.66
• Living wage needed (married couple only): $93,470.54
• Living wage needed (married couple with children: $104,767.32

15. Wichita, Kansas

• Monthly cost of living (married couple only): $2,684.57
• Monthly cost of living (married couple with children): $3,159.69
• July 2023 Zillow home value index: $187,459.34
• July 2023 Average mortgage cost: $1,142.92
• Total monthly cost (married couple only): $3,827.49
• Total monthly cost (married couple with children): $4,302.61
• Total annual cost (married couple only): $45,929.93
• Total annual cost (married couple with children): $51,631.37
• Living wage needed (married couple only): $91,859.86
• Living wage needed (married couple with children: $103,262.74

14. Little Rock, Arkansas

• Monthly cost of living (married couple only): $2,577.25
• Monthly cost of living (married couple with children): $3,069.47
• July 2023 Zillow home value index: $199,365.99
• July 2023 Average mortgage cost: $1,215.52
• Total monthly cost (married couple only): $3,792.77
• Total monthly cost (married couple with children): $4,284.98
• Total annual cost (married couple only): $45,513.23
• Total annual cost (married couple with children): $51,419.81
• Living wage needed (married couple only): $91,026.47
• Living wage needed (married couple with children: $102,839.62

13. St. Louis

• Monthly cost of living (married couple only): $2,766.63
• Monthly cost of living (married couple with children): $3,319.47
• July 2023 Zillow home value index: $167,636.45
• July 2023 Average mortgage cost: $1,022.06
• Total monthly cost (married couple only): $3,788.70
• Total monthly cost (married couple with children): $4,341.54
• Total annual cost (married couple only): $45,464.37
• Total annual cost (married couple with children): $52,098.47
• Living wage needed (married couple only): $90,928.74
• Living wage needed (married couple with children: $104,196.93

12. Des Moines, Iowa

• Monthly cost of living (married couple only): $2,555.96
• Monthly cost of living (married couple with children): $3,000.46
• July 2023 Zillow home value index: $198,196.49
• July 2023 Average mortgage cost: $1,208.39
• Total monthly cost (married couple only): $3,764.35
• Total monthly cost (married couple with children): $4,208.84
• Total annual cost (married couple only): $45,172.17
• Total annual cost (married couple with children): $50,506.13
• Living wage needed (married couple only): $90,344.34
• Living wage needed (married couple with children: $101,012.25

11. Augusta, Georgia

• Monthly cost of living (married couple only): $2,673.94
• Monthly cost of living (married couple with children): $3,170.85
• July 2023 Zillow home value index: $176,727.98
• July 2023 Average mortgage cost: $1,077.50
• Total monthly cost (married couple only): $3,751.44
• Total monthly cost (married couple with children): $4,248.35
• Total annual cost (married couple only): $45,017.25
• Total annual cost (married couple with children): $50,980.16
• Living wage needed (married couple only): $90,034.49
• Living wage needed (married couple with children: $101,960.31

10. Amarillo, Texas

• Monthly cost of living (married couple only): $2,511.71
• Monthly cost of living (married couple with children): $2,955.59
• July 2023 Zillow home value index: $196,715.29
• July 2023 Average mortgage cost: $1,199.36
• Total monthly cost (married couple only): $3,711.06
• Total monthly cost (married couple with children): $4,154.95
• Total annual cost (married couple only): $44,532.74
• Total annual cost (married couple with children): $49,859.37
• Living wage needed (married couple only): $89,065.48
• Living wage needed (married couple with children: $99,718.75

9. Brownsville, Texas

• Monthly cost of living (married couple only): $2,595.98
• Monthly cost of living (married couple with children): $3,080.03
• July 2023 Zillow home value index: $176,133.89
• July 2023 Average mortgage cost: $1,073.87
• Total monthly cost (married couple only): $3,669.85
• Total monthly cost (married couple with children): $4,153.90
• Total annual cost (married couple only): $44,038.23
• Total annual cost (married couple with children): $49,846.86
• Living wage needed (married couple only): $88,076.47
• Living wage needed (married couple with children: $99,693.71

8. Memphis, Tennessee

• Monthly cost of living (married couple only): $2,743.84
• Monthly cost of living (married couple with children): $3,274.18
• July 2023 Zillow home value index: $146,663.20
• July 2023 Average mortgage cost: $894.19
• Total monthly cost (married couple only): $3,638.03
• Total monthly cost (married couple with children): $4,168.37
• Total annual cost (married couple only): $43,656.38
• Total annual cost (married couple with children): $50,020.49
• Living wage needed (married couple only): $87,312.75
• Living wage needed (married couple with children: $100,040.98

7. Montgomery, Alabama

• Monthly cost of living (married couple only): $2,765.81
• Monthly cost of living (married couple with children): $3,228.12
• July 2023 Zillow home value index: $137,012.49
• July 2023 Average mortgage cost: $835.35
• Total monthly cost (married couple only): $3,601.16
• Total monthly cost (married couple with children): $4,063.47
• Total annual cost (married couple only): $43,213.95
• Total annual cost (married couple with children): $48,761.66
• Living wage needed (married couple only): $86,427.91
• Living wage needed (married couple with children: $97,523.33

6. Columbus, Georgia

• Monthly cost of living (married couple only): $2,633.58
• Monthly cost of living (married couple with children): $3,108.70
• July 2023 Zillow home value index: $152,453.88
• July 2023 Average mortgage cost: $929.50
• Total monthly cost (married couple only): $3,563.08
• Total monthly cost (married couple with children): $4,038.20
• Total annual cost (married couple only): $42,756.91
• Total annual cost (married couple with children): $48,458.41
• Living wage needed (married couple only): $85,513.81
• Living wage needed (married couple with children: $96,916.82

5. Birmingham, Alabama

• Monthly cost of living (married couple only): $2,851.68
• Monthly cost of living (married couple with children): $3,341.61
• July 2023 Zillow home value index: $99,115.88
• July 2023 Average mortgage cost: $604.30
• Total monthly cost (married couple only): $3,455.98
• Total monthly cost (married couple with children): $3,945.91
• Total annual cost (married couple only): $41,471.77
• Total annual cost (married couple with children): $47,350.97
• Living wage needed (married couple only): $82,943.54
• Living wage needed (married couple with children: $94,701.95

4. Shreveport, Louisiana

• Monthly cost of living (married couple only): $2,650.97
• Monthly cost of living (married couple with children): $3,154.69
• July 2023 Zillow home value index: $130,939.73
• July 2023 Average mortgage cost: $798.33
• Total monthly cost (married couple only): $3,449.30
• Total monthly cost (married couple with children): $3,953.02
• Total annual cost (married couple only): $41,391.56
• Total annual cost (married couple with children): $47,436.26
• Living wage needed (married couple only): $82,783.13
• Living wage needed (married couple with children: $94,872.51

3. Toledo, Ohio

• Monthly cost of living (married couple only): $2,577.08
• Monthly cost of living (married couple with children): $3,066.21
• July 2023 Zillow home value index: $110,542.94
• July 2023 Average mortgage cost: $673.97
• Total monthly cost (married couple only): $3,251.05
• Total monthly cost (married couple with children): $3,740.18
• Total annual cost (married couple only): $39,012.66
• Total annual cost (married couple with children): $44,882.20
• Living wage needed (married couple only): $78,025.32
• Living wage needed (married couple with children: $89,764.41

2. Cleveland

• Monthly cost of living (married couple only): $2,608.56
• Monthly cost of living (married couple with children): $3,132.45
• July 2023 Zillow home value index: $102,595.77
• July 2023 Average mortgage cost: $625.52
• Total monthly cost (married couple only): $3,234.08
• Total monthly cost (married couple with children): $3,757.96
• Total annual cost (married couple only): $38,808.98
• Total annual cost (married couple with children): $45,095.57
• Living wage needed (married couple only): $77,617.97
• Living wage needed (married couple with children: $90,191.14

1. Akron, Ohio

• Monthly cost of living (married couple only): $2,506.91
• Monthly cost of living (married couple with children): $2,984.34
• July 2023 Zillow home value index: $115,343.40
• July 2023 Average mortgage cost: $703.24
• Total monthly cost (married couple only): $3,210.15
• Total monthly cost (married couple with children): $3,687.58
• Total annual cost (married couple only): $38,521.75
• Total annual cost (married couple with children): $44,250.98
• Living wage needed (married couple only): $77,043.50
• Living wage needed (married couple with children: $88,501.95

Methodology: To find the living wage a family needs in major U.S. cities, GOBankingRates analyzed the top 150 cities based on number of households, as sourced from the U.S. Census American Consumer Survey. For each city, the cost of living indexes from a variety of expenditure categories including; [1] Grocery cost of living index, [2] Healthcare cost of living index, [3] Utilities cost of living index, [4] Transportation cost of living index, [5] Miscellaneous cost of living index, all sourced from Sperlings Best Places. The July 2023 average home value was sourced from Zillow Home Value Index. Using the national average 30-year fixed mortgage rate sourced from Federal Reserve Economic Research, the monthly mortgage rate can be calculated assuming a 10% down payment. The mortgage cost and the monthly expenditure costs can be combined to find a total monthly cost needed for each city. All data was collected and is up-to-date as of September 20th, 2023.

Share This Article: