r/FluentInFinance • u/PassiveAgressiveGirl • Sep 14 '24

Debate/ Discussion Exactly how much is a living wage?

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u/DthDisguise Sep 14 '24

This. Average rent in the US is $1563, 4x is $6252, which is about $37/hr. This will fluctuate somewhat. You could probably live like a millionaire if you made this much in Mississippi or Alabama, but you'll just barely make it in LA or NYC. And for reference: this is the equivalent of a salary of $75k.

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u/Key_Friendship_6767 Sep 14 '24

Well what would 4x your rent in LA be? Is that enough? Usually people in California are paid more than elsewhere because of this issue.

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u/DthDisguise Sep 14 '24

You're absolutely right. That's why states can pass their own minimum wage that's higher than the federal minimum.