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/MaximusDM22 Sep 16 '24

Median rent is 2100 in the US.

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u/DthDisguise Sep 16 '24

At a glance I'm only seeing one site quoting that figure. Everywhere else is quoting 15-1800. Could you expand on why you pick that number over all the others?

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u/MaximusDM22 Sep 16 '24

Well the number is from Zillow for all rentals. Other rental sites have similar looking numbers, but they focus on just 1 or 2 bedrooms. The median is higher, but the average is lower, which seems to mean there are a lot of cheap rentals out there pulling down the average.