What is the minimum salary needed to be happy in Wisconsin? Here's what a new study says

Can money buy happiness?

It's an age-old question, but no matter your answer, most seem to agree that money can at least guarantee some measure of security and stability.

So how much money do you need for these tangible building blocks of "happiness"? In a recent study, personal finance site GOBankingRates sought to answer the question by ranking the cost of happiness in all 50 states.

Here's how much it'll run you in Wisconsin.

How much does it cost to be happy in Wisconsin?

The minimum annual salary needed to be happy in Wisconsin is $100,170, according to GOBankingRates. That's well over the average annual salary of $58,552 in Wisconsin.

But if your salary isn't in the six digits, don't worry: the study put the price for a "state of emotional well-being" in Wisconsin anywhere from $57,240 to $71,550. That income range falls within the amount needed to be considered middle class in Milwaukee, which is between $31,247 and $93,274, according to a 2023 SmartAsset study .

The price tag on happiness in Wisconsin is also a bit lower than the ideal income of $105,000 for life satisfaction in North America, according to a Purdue University analysis . To calculate the cost of happiness in the U.S., GOBankignRates compared this benchmark against the cost-of-living index in each state.

The Purdue study also placed the global price of “life evaluation” at $95,000 and the price “emotional well-being” from anywhere between $60,000 to $75,000.

How did Wisconsin compare with other states?

In the ranking of all states' costs, Wisconsin fell in the about the middle of the pack.

However, Wisconsin did log a higher cost of happiness than any of its neighboring states. The minimum annual salary for happiness fell between $94,000 and $97,000 in Illinois, Michigan and Iowa, while Minnesota was slightly more expensive at $99,120.

Still, all four states put a cheaper price on happiness than Wisconsin. Pennsylvania and North Carolina were Wisconsin's peers on the list, ranking right below and above the state.

More: The U.S. has plummeted in happiness rankings, raising the question: Do we know what real joy is?

Which states is it most expensive to be happy?

The cost of happiness varied widely across the country, with a chasm of nearly $100,000 between the most and least expensive state.

Hawaii was the most expensive and West Virginia the cheapest, with the minimum annual salary for happiness totaling$188,160 and $89,460 in each state, respectively.

Here are the 10 states where happiness will cost you the most, according to GOBankingRates:

1. Hawaii:$188,160
2. Massachusetts: $155,400
3. California: $143,220
4. New York: $132,825
5. Alaska: $132,720
6. Washington: $121,485
7. New Hampshire: $121,380
8. Vermont: $120,645
9. Maryland: $120,540
10. Oregon: $120,435

More: Are you in the middle class in Wisconsin? Here's how much money you'd have to make

This article originally appeared on Milwaukee Journal Sentinel: What is the minimum salary needed to be happy in Wisconsin? Here's what a new study says