Do you earn enough to settle down in the swankiest parts of America?
A 2017 GOBankingRates report that determined what it costs to live in the most expensive ZIP codes across the country will help you find out.
The site looked at the cost of living in each ZIP code, factoring in median home values and necessities such as groceries, utilities, transportation and health care. From there, it applied the “50-30-20 rule” of personal finance — meaning 50 percent of income goes to necessities, 30 percent towards discretionary spending and 20 percent towards saving — to calculate the recommended annual income.
“Many ZIP codes require some serious paychecks to live there,” GOBankingRates reports, “while others only require an income slightly above the household median [$55,775].”
Note that these numbers are suggestions based on the available data and assume a substantial amount of saving.
Here’s the suggested take-home income required to live in the most expensive ZIP codes in 48 states and the District of Columbia (there wasn’t sufficient data to include Maine and South Dakota), plus the estimated annual cost of necessities.