Quality of Life with a $117,470 Income in the United States

Earning $117,470 annually places an individual or household comfortably above the median income level in the United States. This income level offers various opportunities and challenges depending on the location and personal circumstances of the individual or family.

Cost of Living

• National Average: The cost of living varies significantly across the United States.
  • In urban areas like San Francisco or New York City, the cost of living is substantially higher than the national average.
  • In contrast, smaller cities or rural areas often have a lower cost of living.
• Lifestyle Choices: Higher incomes often allow for a more comfortable lifestyle in suburban or rural locales compared to major metropolitan areas.

Housing Market

• Home Prices: The national median home price varies widely by region.
  • High-cost areas may see median home prices significantly above $500,000, which can strain even a higher income like $117,470.
  • More affordable regions may offer median home prices around $200,000 to $300,000, providing better affordability for homebuyers.
• Housing Affordability: With a $117,470 income, individuals can generally afford a decent home with careful budgeting, especially outside high-cost areas.

Quality of Life

• Disposable Income: After accounting for taxes, housing costs, and basic needs, individuals in this income bracket typically have disposable income for savings, leisure, and investments.
• Standard of Living: This income level often affords access to necessities and luxuries such as dining out, travel, and entertainment.

Access to Healthcare

• Healthcare Costs: The U.S. healthcare system can be expensive, but a $117,470 income usually allows for comprehensive health insurance either through employment or individual plans.
• Quality of Care: Depending on location, access to quality healthcare services can vary, but generally, urban and suburban areas offer more extensive options.

Quality of K-12 Schools

• Public Education: In many areas, $117,470 can afford living in districts with highly regarded public schools, although this may not be true in all regions.
• Private School Options: This income level provides the possibility of private education or supplemental educational services, depending on other financial commitments.

Summary

A $117,470 income generally offers a comfortable quality of life in many parts of the United States, allowing for