Quality of Life Assessment for a $102,850 Annual Income in the United States

Cost of Living

• National Average: The national average cost of living index in the United States often hovers around 100. States or regions with higher costs can significantly affect disposable income.
• Income Context: An annual salary of $102,850 is above the national median household income, which was about $68,000 in 2020. This positions an individual comfortably above the middle tier regarding earning power.
• Budget Allocation:
  • Housing: 25-30% of annual income, depending on location.
  • Transportation: 10-15%.
  • Food and groceries: 10-15%.
  • Healthcare and insurance: 5-10%.

Housing Market

• Home Prices: The median home price in the U.S. was approximately $374,000 in 2021. This can vary drastically with geographic location.
• Affordability:
  • Urban Areas: High demand can lead to considerable costs, impacting affordability despite a higher income.
  • Suburban/Rural Areas: Generally more affordable, allowing larger and potentially more luxurious housing within this salary range.
• Renting vs. Buying:
  • Renting may be a more flexible option in higher-cost urban areas.
  • Buying provides long-term investment benefits, particularly in less expensive regions.

Quality of Life

• Discretionary Spending: An income of $102,850 typically allows for discretionary expenditures such as travel, dining, and leisure activities.
• Savings and Investments: Opportunities to save for retirement and other financial goals are feasible. This includes 401(k) plans, IRAs, and stock investments.
• Work-Life Balance: Varies depending on job flexibility and personal priorities but generally more achievable with higher income due to reduced financial stress.

Access to Healthcare

• Insurance Coverage: This income range often places individuals in advantageous brackets for employer-sponsored healthcare plans.
• Out-of-Pocket Costs: Costs can vary, but higher earnings provide a buffer against unexpected medical expenses and allow for comprehensive insurance coverages.
• Quality of Care: Generally good access to medical services and specialists, especially in urban and suburban settings.

Quality of K-12 Schools

• Public Schools: Higher incomes are typically found in areas with well-funded public school districts, leading to better educational