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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.”

Skyline - featured 220X165A 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?

 

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3 Responses to Study: Rochester Families Need $78,455 to Get By

  1. July 9, 2013 at 9:28 am Booored...man...street responds:

    Driverless Cars….you mean like a train? Or kind of a bus? Those don’t need parking.

  2. July 9, 2013 at 12:04 pm Lisa Robel responds:

    Hmmm … why is a family only considered a family if it has children?

  3. July 9, 2013 at 1:48 pm Rich responds:

    I find the housing to be low, if that is a rent or mortgage payment. Also where does utilities fall?

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