Living paycheck to paycheck is not comfortable. While the cost of living and inflation metrics account for price increases in goods and services, they don't necessarily take note of the additional costs needed to live comfortably and soften the burden of living paycheck to paycheck.
How much does it take to have a comfortable life in cities across the Sooner State?
A recent study by Smartasset listed the salaries necessary to live comfortably in major U.S. cities, including two Oklahoma cities. The study analyzed 99 of the largest U.S. cities based on the 50/30/20 budget rule.
The study found, among other things, that Oklahoma City and Tulsa have some of the lowest salaries needed to live comfortably, while New York has the highest.
What is considered a comfortable salary?
The 50/30/20 budget describes a comfortable salary. The formula says that for sustainable comfort, 50% of a person's salary should be allocated to needs such as housing, groceries and transportation; 30% should go to wants, such as hobbies or entertainment; and 20% should be for paying off debt, saving or investing.
All of the cities in the top five required a comfortable living wage between $36 and $38 per hour for one person. The total salary needed for two working adults with two children ranged from $175,219 to $208,416 across these cities.
More: Oklahoma ranked in top 10 worst states to live in by new study: See the list.
Oklahoma cities with the lowest salary needed to live comfortably
On the 99-city list, two in Oklahoma landed in the top 20.
Tulsa was the first Oklahoma city on the list at No. 8. The city requires an hourly wage of $38.98 and a yearly salary of around $81,000 for one person and a minimum salary of at least $199,430 for two adults and two children to live comfortably, the study shows.
Oklahoma City came in at No. 16 for requiring an hourly wage of $39.74 or an annual salary of $82,659 for one person, and a minimum salary of $201,594 for a family.
Where do other major cities rank?
Oklahoma's neighboring state of Texas nearly swept the top of the rankings. Four Texas cities made it into the top five: Houston, El Paso, Lubbock and Laredo.
Not surprisingly, Austin ranked as Texas' most expensive city for living comfortably. The required hourly wage was $47.96 and yearly salary was $99,757 for one adult, and it took $223,891 a year to sustain a family of four.
Top 10 cities with the highest salaries needed to live comfortably
- New York City, New York : Hourly wage of $66.62, salary of $138,570 for one $318,406 for a family
- San Jose, California : Hourly wage of $65.74, salary of $136,739 for one or $334,547 for a family
- Irvine, California : Hourly wage of $60.96, salary of $126,797 for one or $291,450 for a family
- Santa Ana, California : Hourly wage of $60.96, salary of $126,797 for one or $291,450 for a family
- Boston, Massachusetts : Hourly wage of $60.08, salary of $124,966 for one or $319,738 for a family
- San Diego, California: Hourly wage of $59.04, salary of $122,803 for one or $289,453 for a family
- Chula Vista, California : Hourly wage of $59.04, salary of $122,803 for one or $289,453 for a family
- San Francisco, California: Hourly wage of $57.48, salary of $119,558 for one or $339,123 for a family
- Seattle, Washington : Hourly wage of $57.40, salary of $119,392 for one or $283,712 for a family
- Oakland, California : Hourly wage of $57.10, salary of $118,768 for one or $316,243 for a family
This article originally appeared on Oklahoman: Which Oklahoma cities are cheapest for living comfortably? See the list here
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