Living Wage Calculator - Living Wage Calculation for Raleigh, NC (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 $18.31 $38.93 $51.71 $68.08 $28.45 $34.95 $39.93 $43.81 $14.10 $21.41 $27.83 $33.87
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 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25

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 $3,926 $5,795 $8,707 $11,540 $7,198 $8,966 $11,564 $14,071 $7,198 $8,966 $11,564 $14,071
Child Care $0 $13,108 $26,215 $39,323 $0 $0 $0 $0 $0 $13,108 $26,215 $39,323
Medical $3,049 $10,543 $10,553 $10,478 $7,544 $10,553 $10,478 $10,631 $7,544 $10,553 $10,478 $10,631
Housing $12,456 $14,676 $14,676 $18,204 $12,876 $14,676 $14,676 $18,204 $12,456 $14,676 $14,676 $18,204
Transportation $5,477 $9,851 $12,045 $14,484 $9,851 $12,045 $14,484 $15,530 $9,851 $12,045 $14,484 $15,530
Civic $3,074 $6,107 $6,821 $9,300 $6,107 $6,821 $9,300 $7,395 $6,107 $6,821 $9,300 $7,395
Other $4,253 $7,420 $8,755 $9,610 $7,420 $8,755 $9,610 $10,749 $7,420 $8,755 $9,610 $10,749
Required annual income after taxes $32,366 $67,631 $87,904 $113,071 $51,127 $61,948 $70,243 $76,712 $50,707 $75,056 $96,458 $116,035
Annual taxes $5,718 $13,346 $19,654 $28,530 $8,048 $10,742 $12,808 $14,418 $7,943 $14,006 $19,335 $24,868
Required annual income before taxes $38,084 $80,977 $107,558 $141,601 $59,175 $72,691 $83,050 $91,130 $58,650 $89,062 $115,793 $140,903

Typical Annual Salaries

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

Occupational Area Typical Annual Salary
Management $125,413
Business & Financial Operations $84,675
Computer & Mathematical $110,706
Architecture & Engineering $86,340
Life, Physical, & Social Science $82,547
Community & Social Service $53,969
Legal $86,185
Education, Training, & Library $54,157
Arts, Design, Entertainment, Sports, & Media $55,634
Healthcare Practitioners & Technical $68,346
Healthcare Support $33,043
Protective Service $43,175
Food Preparation & Serving Related $26,384
Building & Grounds Cleaning & Maintenance $33,175
Personal Care & Service $31,466
Sales & Related $33,749
Office & Administrative Support $41,808
Farming, Fishing, & Forestry $39,140
Construction & Extraction $51,808
Installation, Maintenance, & Repair $53,275
Production $40,706
Transportation & Material Moving $35,314

I'm an expert in labor economics and wage analysis, with a deep understanding of the concepts surrounding living wages, minimum wages, and poverty rates. My expertise is grounded in both theoretical knowledge and practical experience in analyzing economic data and trends.

The living wage, as defined in the provided information, is the hourly rate necessary for an individual to support themselves and their family, assuming the sole provider is working full-time (2080 hours per year). This concept takes into account various factors such as family size, composition, and location.

The state minimum wage, on the other hand, is a fixed rate for all individuals, irrespective of their dependents. This minimum wage is determined annually based on the posted value as of January 1 of the coming year, according to data from the National Conference of State Legislatures (2019).

The poverty rate is expressed as a person's gross annual income, converted into an hourly wage for the sake of comparison with the living wage. It reflects the income level below which individuals or families are considered to be living in poverty.

The provided data includes living wage estimates for different family compositions and the number of children, ranging from 0 to 3. Additionally, it presents poverty wages and state minimum wages for the same family scenarios.

Typical expenses contributing to the living wage estimate are categorized into food, child care, medical expenses, housing, transportation, civic expenses, and other miscellaneous costs. These figures vary based on family size, composition, and location.

The required annual income after taxes is calculated by subtracting annual taxes from the gross income. The typical annual salaries for various occupational areas are also provided for reference, showcasing the income levels associated with different professions in a given location.

In summary, this comprehensive dataset offers insights into the complex interplay between wages, living expenses, and poverty, considering the nuances of family dynamics and geographical differences. If you need further details, you can refer to the technical documentation provided.

Living Wage Calculator
       - Living Wage Calculation for Raleigh, NC (2024)

FAQs

What is a livable wage in Raleigh NC? ›

Living Wage Calculation for Raleigh-Cary, NC
1 ADULT2 ADULTS (BOTH WORKING)
0 Children2 Children
Living Wage$24.70$28.35
Poverty Wage$7.24$7.50
Minimum Wage$7.25$7.25

How is living wage calculated? ›

The federal and state income and payroll taxes are added to the annual family budget less taxes, yielding the total annual family budget needed to meet all basic needs, including tax. The total annual family budget is then divided by the total number of workers in a family.

Is $17 an hour a livable wage? ›

California. California's living wage is $19.41, or $40,371 a year for an individual. A family of four requires $27.42, or $101,378 a year.

Is 70k a good salary in North Carolina? ›

North Carolina ranks number 15 out of 50 states nationwide for $70000 salaries.

What is a livable yearly salary in NC? ›

Update: 10.31. 22 – Updated Living Wage Post
Family SizeLiving Wage (per hour)Annual Salary
1 Adult 1 Child$24.69$51,355
1 Adult 2 Children$28.66$59,612
2 Adults$9.85 each$40,976
2 Adults 1 Child$13.48 each$56,076
4 more rows
Mar 28, 2024

How much do I have to make to live comfortably in North Carolina? ›

North Carolina: While living wages vary by city, and also at the county level depending on the area, an income of $53,531 is needed to live comfortably in North Carolina, the study says.

What is the difference between living wage and living income? ›

Living wage refers specifically to the context of hired workers (in factories, on farms, etc.), whereas living income refers to any self-employed income earner, such as farmers.

What is a livable hourly wage? ›

Living Wage Calculation for California
1 ADULT2 ADULTS (BOTH WORKING)
0 Children2 Children
Living Wage$27.32$33.26
Poverty Wage$7.24$7.50
Minimum Wage$16.00$16.00

What rate is the real living wage? ›

The real Living Wage & government minimum wage rates (Apr 2024)
Real Living Wage (UK)National Living WageNational Minimum Wage
18+21+18-20
£12.00£11.44£8.60
Apr 16, 2024

Can you live off of $23 an hour? ›

The answer to whether $23 an hour is a good wage depends on various factors, including your location, cost of living, and individual financial goals. In some areas with a lower cost of living, $23 an hour can provide a comfortable living. However, in more expensive cities, it may not stretch as far.

How much is $20 an hour annually? ›

$20 an hour is how much a year? If you make $20 an hour, your yearly salary would be $41,600.

Is $28 an hour good money? ›

A: It depends on your living expenses, location, and personal financial goals. In the U.S., the median hourly wage is around $22 per hour, according to the Bureau of Labor Statistics. So, comparatively, $28 an hour could be considered slightly above average based on that data.

What is considered upper class in Raleigh NC? ›

Upper Class Salary in Raleigh, NC
Annual SalaryMonthly Pay
Top Earners$83,125$6,927
75th Percentile$65,727$5,477
Average$55,206$4,600
25th Percentile$37,696$3,141

What is considered low income in NC? ›

"Low-income" is based on the Area Median Income ("AMI") of the city or county. Typically, households are considered low-income if they earn no more than 80% of AMI.

What is a high salary in NC? ›

Highest Salary in North Carolina. $67,700 is the 25th percentile. Salaries below this are outliers. $90,400 is the 75th percentile.

What is middle class salary in Raleigh NC? ›

In North Carolina, your annual income typically falls within a specific range, from $42,994 to $206,606, to be considered middle class. This depends on your family size. This article provides a detailed breakdown of these income ranges for various family sizes, from two-person households to families of seven.

Is 22 dollars an hour good in North Carolina? ›

As of Apr 11, 2024, the average hourly pay for a Hourly in North Carolina is $22.57 an hour. While ZipRecruiter is seeing salaries as high as $38.45 and as low as $15.51, the majority of Hourly salaries currently range between $22.74 (25th percentile) to $25.34 (75th percentile) in North Carolina.

Is Raleigh considered high cost of living? ›

Raleigh, North Carolina's cost of living is 4% lower than the national average.

Is it affordable to live in Raleigh NC? ›

The median income in Raleigh is about $40,520, with the cost of living in Raleigh being below the national average.

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