Here’s the Living Wage a Millennial Needs To Live Comfortably in America

It’s increasingly difficult for millennials to enjoy a comfortable lifestyle if they’re pacing behind on their earnings. Across 23 U.S. states and the nation’s capital — nearly half of America — millennials need to earn six figures or more as their living wage.

To determine the comfortable living wage for millennials in every state, GOBankingRates sourced each state’s total population, total households and household median income along with the average single family home value, mortgage cost and cost-of-living indexes.

With millennials defined as being born between 1981 through 1997, the average expenditure cost was calculated using the national average expenditure costs for residents born between those years. Together, the expenditure cost and mortgage costs are calculated for the average total cost of living. The total annual expenditure on necessities was then doubled to determine each state’s living wage for millennials.

With states ranked in order from highest to lowest income wage needed, see how much millennials need to earn to live a comfortable lifestyle in America.

• Population total: 1,440,196
• Household total: 483,906
• Median household income: $94,814
• Average single family home value (May 2024): $988,816
• Average monthly mortgage cost: $5,891
• Average monthly expenditure cost: $2,623
• Average monthly cost of living total: $8,514
• Average annual cost of living total: $102,172
• Living wage needed to live comfortably: $204,344

• Population total: 39,029,342
• Household total: 13,315,822
• Median household income: $91,905
• Average single family home value (May 2024): $806,577
• Average monthly mortgage cost: $4,805
• Average monthly expenditure cost: $2,365
• Average monthly cost of living total: $7,170
• Average annual cost of living total: $86,042
• Living wage needed to live comfortably: $172,083

• Population total: 671,803
• Household total: 315,785
• Median household income: $101,722
• Average single family home value (May 2024): $732,551
• Average monthly mortgage cost: $4,364
• Average monthly expenditure cost: $2,051
• Average monthly cost of living total: $6,415
• Average annual cost of living total: $76,985
• Living wage needed to live comfortably: $153,970

• Population total: 6,981,974
• Household total: 2,740,995
• Median household income: $96,505
• Average single family home value (May 2024): $652,386
• Average monthly mortgage cost: $3,887
• Average monthly expenditure cost: $2,264
• Average monthly cost of living total: $6,151
• Average annual cost of living total: $73,813
• Living wage needed to live comfortably: $147,626

• Population total: 7,785,786
• Household total: 2,979,272
• Median household income: $90,325
• Average single family home value (May 2024): $614,767
• Average monthly mortgage cost: $3,663
• Average monthly expenditure cost: $2,138
• Average monthly cost of living total: $5,801
• Average annual cost of living total: $69,608
• Living wage needed to live comfortably: $139,215

• Population total: 9,261,699
• Household total: 3,438,162
• Median household income: $97,126
• Average single family home value (May 2024): $545,028
• Average monthly mortgage cost: $3,247
• Average monthly expenditure cost: $1,974
• Average monthly cost of living total: $5,221
• Average annual cost of living total: $62,647
• Living wage needed to live comfortably: $125,293

• Population total: 5,839,926
• Household total: 2,278,044
• Median household income: $87,598
• Average single family home value (May 2024): $565,548
• Average monthly mortgage cost: $3,369
• Average monthly expenditure cost: $1,839
• Average monthly cost of living total: $5,209
• Average annual cost of living total: $62,502
• Living wage needed to live comfortably: $125,005

• Population total: 4,240,137
• Household total: 1,680,800
• Median household income: $76,632
• Average single family home value (May 2024): $512,563
• Average monthly mortgage cost: $3,054
• Average monthly expenditure cost: $2,071
• Average monthly cost of living total: $5,125
• Average annual cost of living total: $61,498
• Living wage needed to live comfortably: $122,996

• Population total: 3,380,800
• Household total: 1,062,819
• Median household income: $86,833
• Average single family home value (May 2024): $533,112
• Average monthly mortgage cost: $3,176
• Average monthly expenditure cost: $1,826
• Average monthly cost of living total: $5,002
• Average annual cost of living total: $60,029
• Living wage needed to live comfortably: $120,057

• Population total: 1,395,231
• Household total: 545,116
• Median household income: $90,845
• Average single family home value (May 2024): $501,203
• Average monthly mortgage cost: $2,986
• Average monthly expenditure cost: $2,008
• Average monthly cost of living total: $4,994
• Average annual cost of living total: $59,924
• Living wage needed to live comfortably: $119,847

• Population total: 1,093,734
• Household total: 432,219
• Median household income: $81,370
• Average single family home value (May 2024): $476,239
• Average monthly mortgage cost: $2,837
• Average monthly expenditure cost: $2,071
• Average monthly cost of living total: $4,908
• Average annual cost of living total: $58,901
• Living wage needed to live comfortably: $117,802

• Population total: 733,583
• Household total: 264,376
• Median household income: $86,370
• Average single family home value (May 2024): $377,079
• Average monthly mortgage cost: $2,246
• Average monthly expenditure cost: $2,500
• Average monthly cost of living total: $4,746
• Average annual cost of living total: $56,955
• Living wage needed to live comfortably: $113,909

• Population total: 3,177,772
• Household total: 1,163,671
• Median household income: $71,646
• Average single family home value (May 2024): $457,004
• Average monthly mortgage cost: $2,723
• Average monthly expenditure cost: $2,007
• Average monthly cost of living total: $4,730
• Average annual cost of living total: $56,758
• Living wage needed to live comfortably: $113,516

• Population total: 1,122,867
• Household total: 443,917
• Median household income: $66,341
• Average single family home value (May 2024): $468,751
• Average monthly mortgage cost: $2,793
• Average monthly expenditure cost: $1,907
• Average monthly cost of living total: $4,700
• Average annual cost of living total: $56,395
• Living wage needed to live comfortably: $112,790

• Population total: 3,626,205
• Household total: 1,409,807
• Median household income: $90,213
• Average single family home value (May 2024): $433,999
• Average monthly mortgage cost: $2,586
• Average monthly expenditure cost: $2,102
• Average monthly cost of living total: $4,688
• Average annual cost of living total: $56,256
• Living wage needed to live comfortably: $112,511

• Population total: 19,677,151
• Household total: 7,604,523
• Median household income: $81,386
• Average single family home value (May 2024): $447,263
• Average monthly mortgage cost: $2,665
• Average monthly expenditure cost: $2,002
• Average monthly cost of living total: $4,667
• Average annual cost of living total: $56,003
• Living wage needed to live comfortably: $112,006

• Population total: 1,939,033
• Household total: 675,323
• Median household income: $70,214
• Average single family home value (May 2024): $459,463
• Average monthly mortgage cost: $2,737
• Average monthly expenditure cost: $1,886
• Average monthly cost of living total: $4,623
• Average annual cost of living total: $55,481
• Living wage needed to live comfortably: $110,963

• Population total: 7,359,197
• Household total: 2,739,136
• Median household income: $72,581
• Average single family home value (May 2024): $445,624
• Average monthly mortgage cost: $2,655
• Average monthly expenditure cost: $1,917
• Average monthly cost of living total: $4,572
• Average annual cost of living total: $54,863
• Living wage needed to live comfortably: $109,725

• Population total: 6,164,660 
• Household total: 2,318,124
• Median household income: $98,461
• Average single family home value (May 2024): $433,613
• Average monthly mortgage cost: $2,583
• Average monthly expenditure cost: $1,987
• Average monthly cost of living total: $4,570
• Average annual cost of living total: $54,839
• Living wage needed to live comfortably: $109,679

• Population total: 1,385,340
• Household total: 580,172
• Median household income: $68,251
• Average single family home value (May 2024): $400,822
• Average monthly mortgage cost: $2,388
• Average monthly expenditure cost: $2,058
• Average monthly cost of living total: $4,446
• Average annual cost of living total: $53,350
• Living wage needed to live comfortably: $106,701

• Population total: 22,244,823
• Household total: 8,353,441
• Median household income: $67,917
• Average single family home value (May 2024): $418,256
• Average monthly mortgage cost: $2,492
• Average monthly expenditure cost: $1,942
• Average monthly cost of living total: $4,434
• Average annual cost of living total: $53,207
• Living wage needed to live comfortably: $106,413

• Population total: 647,064
• Household total: 265,858
• Median household income: $74,014
• Average single family home value (May 2024): $397,507
• Average monthly mortgage cost: $2,368
• Average monthly expenditure cost: $2,013
• Average monthly cost of living total: $4,381
• Average annual cost of living total: $52,571
• Living wage needed to live comfortably: $105,142

• Population total: 8,683,619
• Household total: 3,289,776
• Median household income: $87,249
• Average single family home value (May 2024): $400,272
• Average monthly mortgage cost: $2,385
• Average monthly expenditure cost: $1,861
• Average monthly cost of living total: $4,246
• Average annual cost of living total: $50,949
• Living wage needed to live comfortably: $101,898

• Population total: 1,018,396
• Household total: 389,000
• Median household income: $79,325
• Average single family home value (May 2024): $387,069
• Average monthly mortgage cost: $2,306
• Average monthly expenditure cost: $1,922
• Average monthly cost of living total: $4,228
• Average annual cost of living total: $50,733
• Living wage needed to live comfortably: $101,465

• Population total: 5,717,184
• Household total: 2,256,126
• Median household income: $84,313
• Average single family home value (May 2024): $344,891
• Average monthly mortgage cost: $2,055
• Average monthly expenditure cost: $1,877
• Average monthly cost of living total: $3,931
• Average annual cost of living total: $47,177
• Living wage needed to live comfortably: $94,354

• Population total: 10,698,973
• Household total: 4,105,232
• Median household income: $66,186
• Average single family home value (May 2024): $337,125
• Average monthly mortgage cost: $2,008
• Average monthly expenditure cost: $1,875
• Average monthly cost of living total: $3,883
• Average annual cost of living total: $46,598
• Living wage needed to live comfortably: $93,195

• Population total: 581,381
• Household total: 234,156
• Median household income: $72,495
• Average single family home value (May 2024): $346,709
• Average monthly mortgage cost: $2,066
• Average monthly expenditure cost: $1,792
• Average monthly cost of living total: $3,858
• Average annual cost of living total: $46,290
• Living wage needed to live comfortably: $92,581

• Population total: 10,912,876
• Household total: 3,946,490
• Median household income: $71,355
• Average single family home value (May 2024): $335,654
• Average monthly mortgage cost: $2,000
• Average monthly expenditure cost: $1,839
• Average monthly cost of living total: $3,839
• Average annual cost of living total: $46,064
• Living wage needed to live comfortably: $92,128

• Population total: 5,892,539
• Household total: 2,425,488
• Median household income: $72,458
• Average single family home value (May 2024): $307,613
• Average monthly mortgage cost: $1,833
• Average monthly expenditure cost: $1,863
• Average monthly cost of living total: $3,695
• Average annual cost of living total: $44,342
• Living wage needed to live comfortably: $88,684

• Population total: 909,824
• Household total: 351,182
• Median household income: $69,457
• Average single family home value (May 2024): $307,049
• Average monthly mortgage cost: $1,829
• Average monthly expenditure cost: $1,845
• Average monthly cost of living total: $3,675
• Average annual cost of living total: $44,095
• Living wage needed to live comfortably: $88,191

• Population total: 7,051,339
• Household total: 2,713,635
• Median household income: $64,035
• Average single family home value (May 2024): $324,633
• Average monthly mortgage cost: $1,934
• Average monthly expenditure cost: $1,730
• Average monthly cost of living total: $3,664
• Average annual cost of living total: $43,969
• Living wage needed to live comfortably: $87,938

• Population total: 5,282,634
• Household total: 2,023,085
• Median household income: $63,623
• Average single family home value (May 2024): $299,709
• Average monthly mortgage cost: $1,786
• Average monthly expenditure cost: $1,874
• Average monthly cost of living total: $3,659
• Average annual cost of living total: $43,914
• Living wage needed to live comfortably: $87,827

• Population total: 30,029,572
• Household total: 10,490,553
• Median household income: $73,035
• Average single family home value (May 2024): $307,688
• Average monthly mortgage cost: $1,833
• Average monthly expenditure cost: $1,823
• Average monthly cost of living total: $3,656
• Average annual cost of living total: $43,872
• Living wage needed to live comfortably: $87,743

• Population total: 2,113,344
• Household total: 812,852
• Median household income: $58,722
• Average single family home value (May 2024): $304,456
• Average monthly mortgage cost: $1,814
• Average monthly expenditure cost: $1,778
• Average monthly cost of living total: $3,592
• Average annual cost of living total: $43,100
• Living wage needed to live comfortably: $86,201

• Population total: 12,972,008
• Household total: 5,193,727
• Median household income: $73,170
• Average single family home value (May 2024): $270,479
• Average monthly mortgage cost: $1,611
• Average monthly expenditure cost: $1,900
• Average monthly cost of living total: $3,511
• Average annual cost of living total: $42,134
• Living wage needed to live comfortably: $84,268

• Population total: 12,582,032
• Household total: 4,968,761
• Median household income: $78,433
• Average single family home value (May 2024): $270,566
• Average monthly mortgage cost: $1,612
• Average monthly expenditure cost: $1,854
• Average monthly cost of living total: $3,466
• Average annual cost of living total: $41,593
• Living wage needed to live comfortably: $83,185

• Population total: 1,967,923
• Household total: 776,379
• Median household income: $71,722
• Average single family home value (May 2024): $265,128
• Average monthly mortgage cost: $1,580
• Average monthly expenditure cost: $1,833
• Average monthly cost of living total: $3,412
• Average annual cost of living total: $40,949
• Living wage needed to live comfortably: $81,898

• Population total: 779,261
• Household total: 320,038
• Median household income: $73,959
• Average single family home value (May 2024): $264,597
• Average monthly mortgage cost: $1,576
• Average monthly expenditure cost: $1,828
• Average monthly cost of living total: $3,405
• Average annual cost of living total: $40,857
• Living wage needed to live comfortably: $81,714

• Population total: 10,034,118
• Household total: 4,009,253
• Median household income: $68,505
• Average single family home value (May 2024): $246,095
• Average monthly mortgage cost: $1,466
• Average monthly expenditure cost: $1,828
• Average monthly cost of living total: $3,294
• Average annual cost of living total: $39,530
• Living wage needed to live comfortably: $79,060

• Population total: 6,833,037
• Household total: 2,653,596
• Median household income: $67,173
• Average single family home value (May 2024): $244,828
• Average monthly mortgage cost: $1,459
• Average monthly expenditure cost: $1,799
• Average monthly cost of living total: $3,258
• Average annual cost of living total: $39,095
• Living wage needed to live comfortably: $78,189

• Population total: 11,756,058
• Household total: 4,789,408
• Median household income: $66,990
• Average single family home value (May 2024): $234,069
• Average monthly mortgage cost: $1,394
• Average monthly expenditure cost: $1,848
• Average monthly cost of living total: $3,243
• Average annual cost of living total: $38,913
• Living wage needed to live comfortably: $77,827

• Population total: 6,177,957
• Household total: 2,458,324
• Median household income: $65,920
• Average single family home value (May 2024): $249,566
• Average monthly mortgage cost: $1,487
• Average monthly expenditure cost: $1,728
• Average monthly cost of living total: $3,215
• Average annual cost of living total: $38,579
• Living wage needed to live comfortably: $77,157

• Population total: 3,200,517
• Household total: 1,290,139
• Median household income: $70,571
• Average single family home value (May 2024): $225,470
• Average monthly mortgage cost: $1,343
• Average monthly expenditure cost: $1,816
• Average monthly cost of living total: $3,159
• Average annual cost of living total: $37,910
• Living wage needed to live comfortably: $75,821

• Population total: 2,937,150
• Household total: 1,148,635
• Median household income: $69,747
• Average single family home value (May 2024): $230,617
• Average monthly mortgage cost: $1,374
• Average monthly expenditure cost: $1,764
• Average monthly cost of living total: $3,138
• Average annual cost of living total: $37,653
• Living wage needed to live comfortably: $75,306

• Population total: 5,074,296
• Household total: 1,933,150
• Median household income: $59,609
• Average single family home value (May 2024): $227,856
• Average monthly mortgage cost: $1,357
• Average monthly expenditure cost: $1,777
• Average monthly cost of living total: $3,134
• Average annual cost of living total: $37,608
• Living wage needed to live comfortably: $75,217

• Population total: 4,512,310
• Household total: 1,769,102
• Median household income: $60,183
• Average single family home value (May 2024): $207,575
• Average monthly mortgage cost: $1,237
• Average monthly expenditure cost: $1,837
• Average monthly cost of living total: $3,073
• Average annual cost of living total: $36,882
• Living wage needed to live comfortably: $73,763

• Population total: 4,019,800
• Household total: 1,522,711
• Median household income: $61,364
• Average single family home value (May 2024): $208,367
• Average monthly mortgage cost: $1,241
• Average monthly expenditure cost: $1,769
• Average monthly cost of living total: $3,011
• Average annual cost of living total: $36,127
• Living wage needed to live comfortably: $72,254

• Population total: 4,590,241
• Household total: 1,765,264
• Median household income: $57,852
• Average single family home value (May 2024): $203,003
• Average monthly mortgage cost: $1,209
• Average monthly expenditure cost: $1,750
• Average monthly cost of living total: $2,959
• Average annual cost of living total: $35,507
• Living wage needed to live comfortably: $71,014

• Population total: 3,045,637
• Household total: 1,171,694
• Median household income: $56,335
• Average single family home value (May 2024): $207,999
• Average monthly mortgage cost: $1,239
• Average monthly expenditure cost: $1,717
• Average monthly cost of living total: $2,956
• Average annual cost of living total: $35,469
• Living wage needed to live comfortably: $70,937

• Population total: 2,940,057
• Household total: 1,121,269
• Median household income: $52,985
• Average single family home value (May 2024): $179,684
• Average monthly mortgage cost: $1,070
• Average monthly expenditure cost: $1,772
• Average monthly cost of living total: $2,842
• Average annual cost of living total: $34,106
• Living wage needed to live comfortably: $68,212

• Population total: 1,775,156
• Household total: 716,040
• Median household income: $55,217
• Average single family home value (May 2024): $167,919
• Average monthly mortgage cost: $1,000
• Average monthly expenditure cost: $1,822
• Average monthly cost of living total: $2,822
• Average annual cost of living total: $33,865
• Living wage needed to live comfortably: $67,731

Methodology: For this study, GOBankingRates analyzed each state to find the comfortable living wage for millennials. Millennials for this study are defined as being born between 1981 and 1997. For each state, a number of factors were found including: total population, total households, household median income all sourced from the U.S. Census American Community Survey. The average single family home value from May 2024 was sourced from Zillow Home Value Index, and by assuming a 10% down payment and using the national 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated. The cost-of-living indexes were sourced from Sperling’s BestPlaces, and by using the national average expenditure costs for residents born between 1981 and 1997, the average expenditure cost can be calculated. The expenditure cost and mortgage costs can be used to calculate the average total cost of living. Using the 50-30-20 budget rule, which allocates 50% of income for necessities, the study doubled the total annual expenditure on necessities in order to determine the living wage for millennials in each state. All data was collected on and is up to date as of Jul. 15, 2024.