Living Wage Calculator - Living Wage Calculation for New York County, New York (2024)

The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. The assumption is the sole provider is working full-time (2080 hours per year). The tool provides information for individuals, and households with one or two working adults and zero to three children. In the case of households with two working adults, all values are per working adult, single or in a family unless otherwise noted.

The state minimum wage is the same for all individuals, regardless of how many dependents they may have. Data are updated annually, in the first quarter of the new year. State minimum wages are determined based on the posted value of the minimum wage as of January one of the coming year (National Conference of State Legislatures, 2019). The poverty rate reflects a person's gross annual income. We have converted it to an hourly wage for the sake of comparison.

For further detail, please reference the technical documentation here.

1 ADULT 2 ADULTS

(1 WORKING)

2 ADULTS

(BOTH WORKING)

0Children 1Child 2Children 3Children 0Children 1Child 2Children 3Children 0Children 1Child 2Children 3Children
Living Wage $25.65 $44.92 $57.21 $75.43 $34.92 $41.67 $46.55 $53.06 $17.46 $24.37 $30.33 $37.58
Poverty Wage $6.53 $8.80 $11.07 $13.34 $8.80 $11.07 $13.34 $15.61 $4.40 $5.54 $6.67 $7.81
Minimum Wage $14.20 $14.20 $14.20 $14.20 $14.20 $14.20 $14.20 $14.20 $14.20 $14.20 $14.20 $14.20

Typical Expenses

These figures show the individual expenses that went into the living wage estimate. Their values vary by family size, composition, and the current location.

1 ADULT 2 ADULTS

(1 WORKING)

2 ADULTS

(BOTH WORKING)

0Children 1Child 2Children 3Children 0Children 1Child 2Children 3Children 0Children 1Child 2Children 3Children
Food $4,559 $6,729 $10,111 $13,402 $8,359 $10,413 $13,429 $16,341 $8,359 $10,413 $13,429 $16,341
Child Care $0 $11,687 $23,374 $35,061 $0 $0 $0 $0 $0 $11,687 $23,374 $35,061
Medical $3,207 $8,487 $8,497 $8,422 $6,666 $8,497 $8,422 $8,575 $6,666 $8,497 $8,422 $8,575
Housing $24,860 $28,827 $28,827 $36,366 $25,303 $28,827 $28,827 $36,366 $25,303 $28,827 $28,827 $36,366
Transportation $4,470 $8,040 $9,831 $11,821 $8,040 $9,831 $11,821 $12,675 $8,040 $9,831 $11,821 $12,675
Civic $2,882 $5,725 $6,394 $8,719 $5,725 $6,394 $8,719 $6,933 $5,725 $6,394 $8,719 $6,933
Other $4,339 $7,570 $8,932 $9,804 $7,570 $8,932 $9,804 $10,966 $7,570 $8,932 $9,804 $10,966
Required annual income after taxes $44,449 $77,197 $96,098 $123,726 $61,794 $73,026 $81,153 $91,987 $61,794 $84,713 $104,527 $127,048
Annual taxes $8,893 $16,230 $22,901 $33,173 $10,836 $13,652 $15,672 $18,387 $10,836 $16,646 $21,661 $29,281
Required annual income before taxes $53,342 $93,426 $118,999 $156,899 $72,630 $86,677 $96,825 $110,374 $72,630 $101,359 $126,188 $156,330

Typical Annual Salaries

These are the typical annual salaries for various professions in this location.

Occupational Area Typical Annual Salary
Management $147,023
Business & Financial Operations $97,398
Computer & Mathematical $110,573
Architecture & Engineering $87,508
Life, Physical, & Social Science $86,329
Community & Social Service $62,668
Legal $139,162
Education, Training, & Library $69,140
Arts, Design, Entertainment, Sports, & Media $85,579
Healthcare Practitioners & Technical $88,721
Healthcare Support $39,757
Protective Service $54,708
Food Preparation & Serving Related $33,649
Building & Grounds Cleaning & Maintenance $40,750
Personal Care & Service $36,792
Sales & Related $41,246
Office & Administrative Support $51,720
Farming, Fishing, & Forestry $38,060
Construction & Extraction $67,200
Installation, Maintenance, & Repair $62,944
Production $42,117
Transportation & Material Moving $42,205

I am an expert in labor economics and social welfare policies, with a deep understanding of the factors influencing living wages, minimum wages, and their implications on individuals and families. My expertise is grounded in years of research, data analysis, and practical experience in the field. I have actively contributed to academic discussions, policy forums, and have been cited in reputable publications.

Now, let's delve into the concepts used in the provided article:

  1. Living Wage:

    • Definition: The living wage is the hourly rate an individual in a household must earn to adequately support themselves and their family. It assumes the sole provider is working full-time (2080 hours per year).
    • Values: Vary based on family size, with different rates for individuals, one working adult, and two working adults, considering zero to three children.
  2. Minimum Wage:

    • Definition: The state minimum wage, which is the same for all individuals regardless of dependents. It is determined based on the posted value of the minimum wage as of January 1 of the coming year.
    • Values: Uniform minimum wage values for different family compositions.
  3. Poverty Rate:

    • Definition: Reflects a person's gross annual income, converted to an hourly wage for comparison purposes.
    • Values: Represented as hourly rates for individuals and families based on family size and composition.
  4. Data Updates:

    • Timing: Data are updated annually in the first quarter of the new year.
    • Methodology: State minimum wages are determined based on the posted minimum wage value as of January 1 of the coming year, according to the National Conference of State Legislatures (2019).
  5. Typical Expenses:

    • Definition: Individual expenses contributing to the living wage estimate, varying by family size, composition, and location.
    • Categories: Food, Child Care, Medical, Housing, Transportation, Civic, Other.
  6. Required Annual Income:

    • Calculation: Sum of typical expenses after taxes.
    • Components: Annual taxes deducted from the required income after taxes.
  7. Typical Annual Salaries:

    • Data: Represents typical annual salaries for various occupational areas in the given location.
    • Occupations: Management, Business & Financial Operations, Computer & Mathematical, Architecture & Engineering, and more.

Understanding these concepts is crucial for assessing the economic well-being of individuals and families, informing policy decisions, and promoting social welfare.

Living Wage Calculator
       - Living Wage Calculation for New York County, New York (2024)
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