A new study has broken down how much money Phoenix-area residents would need to make in order to live a comfortable life.
The Phoenix-Mesa-Scottsdale area, which was grouped together, finished above the midway point, coming in at 14th on the list.
According to the study, a Phoenix-area resident without children would need to make $65,670 after taxes to live comfortably., which uses the cost of housing, food, transportation, medical care and more. A Phoenix resident needs to make at least $32,835 to afford basic living expenses, or $38,043 before taxes, according to the calculator.In order to determine a "comfortable" lifestyle, the study used the 50/30/20 rule, which requires 50% of after-tax income to go to needs, 30% to go to wants, and 20% for savings or debt payments.
Unsurprisingly, the San Francisco-Oakland-Berkeley area was the most expensive place to live, requiring $84,026 after taxes to live comfortably. California showed up multiples times on the list with the San Diego and Los Angeles areas also landing in the top ten.
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