The Economic Policy Institute has updated its Family Budget Calculator. The tool shows what a family needs to live comfortably in different metropolitan areas in the country. The group’s methodology can be found here. “Comfortable” is defined as “secure, yet modest living standard.”
A family with two parents and two children in the Rochester area needs $78,455, according to the calculator. A quick look around the country shows child care and taxes are major factors in the high cost of living here. Child care was by far more costly than many other areas of the country.
The calculator showed a household with one parent and one child needs $53,779. The median household income in Rochester is just over $50,000. If this calculator is true, many of us are not “comfortable.”
Do you think these figures jibe with your lifestyle?
Links of the Day:
– Does bringing yogurt plants to farmland warrant a $142,000 bonus for a public official?
– A Rochester couple that owns downtown property wants to bring pop-up retailing to their storefronts.
– The Wegmans in Northborough, Mass. has 130 people working in its prepared foods department.
– Teachers spent $1.6 billion of their own money on school supplies last school year.
– Driverless cars could change cities forever. For one, they may not need as many parking spots. But will we let fear stand in the way of developing this technology?