Quality of Life with a $98,430 Annual Salary in the United States

An annual income of $98,430 places an individual in a relatively comfortable position within the United States, especially when considering the median household income, which was approximately $68,703 as of the latest data. However, the quality of life this salary affords can vary significantly based on geographic location due to differing costs of living and housing prices. Below is an assessment of the quality of life relative to this income level.

Cost of Living

• General Expenses: A salary of $98,430 significantly exceeds the national median income, providing a comfortable budget for most essential expenses like food, transportation, and utilities.
• Regional Variability: In cities with higher costs of living, such as New York City or San Francisco, this income may only allow for a modest lifestyle. Conversely, it offers a more luxurious lifestyle in regions with lower living costs, such as the Midwest or certain southern states.

Housing Market

• Home Affordability: The median home price in the United States is roughly $370,000. With a $98,430 salary, purchasing a home is feasible, though the type and size of house one can afford will greatly vary depending on location.
• Regional Differences: Housing is more affordable in rural or suburban areas compared to urban centers, where real estate prices can be significantly higher. This salary may cover a larger mortgage payment in states with moderate or low housing costs.

Quality of Life

• Disposable Income: After covering basic necessities, individuals earning this salary likely have leftover funds for discretionary spending, saving, or investing, leading to a higher quality of life.
• Entertainment and Leisure: This income level generally allows for participation in cultural and recreational activities without financial strain.

Access to Healthcare

• Insurance Affordability: Earning $98,430 typically enables an individual to afford health insurance, which may be obtained through employer benefits or personal purchase.
• Healthcare Costs: Although healthcare remains expensive in the U.S., this income allows access to quality healthcare services, although out-of-pocket expenses and premiums can still be significant.

Quality of K-12 Schools

• Public Schools: In many areas, such a salary supports living in neighborhoods with well-rated public schools, which tends to correlate with more expensive real estate.
• Private Education: Families may also consider private schooling options, though tuition may reduce discretionary income and savings.

Assessment Summary