How much does a family need to earn in Rochester for a “secure, yet modest standard of living?” The Economic Policy Institute recently updated its Family Budget Calculator. The results show many families likely fall below the threshold.
EPI found a single person in Rochester needs to earn at least $28,774 a year. That puts us on par with many other communities and is slightly lower than the median non-family household income in Rochester. But when you start to add children to the mix, costs escalate. A household with one parent and one child needs to earn $55,530 in Rochester. Other communities see much lower costs for child care. A two-parent household with two children needs to earn $81,106 in Rochester. That’s 27 percent above the median family income here.
The EPI does this calculator to show the federal poverty threshold is not adequate to describe financial realities for families.
Do you think this calculator reflects the true cost of living here?
Links of the Day:
– “New York and other states should compete for business by cutting taxes and red tape and improving services, not cutting checks.”
– Start Up NY has yet to deny an application, records show.
– How companies make millions off lead-poisoned, poor blacks.
– Buffalo believes it’s now a primary concert market.