How much money do you need to live the good life in Fort Worth? We turned to GoBankingRates, which recently calculated the annual income needed to live comfortably in the 75 most populous U.S. cities, to find out.
For its calculations, the financial website assumed residents follow the "50-30-20" guideline: 50 percent of your income goes towards necessary expenses, 30 percent can be used for fun, and 20 percent is put into savings.
A cost-of-living analysis surveying living expenses (rent, groceries, utilities, transportation, and healthcare) was conducted for each city. That total was doubled to determine how much money a single person needs to earn if following the aforementioned budget.
In Fort Worth, the magic number to live comfortably is $51,759. In this scenario, $25,879 is required to pay yearly living expenses, leaving $15,528 for discretionary spending and $10,352 for savings.
According to GoBankingRate's calculations, Fort Worthians are right on target. The website says the median household income is $52,492, a few bucks more than what you need to live comfortably. Other studies, however, show the average occupational salary in Fort Worth is only $45,560, which means workers are shy of living the dream in Cowtown.
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