SmartAsset’s analysis finds Louisiana is among the most affordable states, but living costs are rising, with individuals needing $5,844 more than last year
NEW ORLEANS — Living comfortably in Louisiana may cost less than in most of the country, but that doesn’t mean it’s cheap.
A new analysis from SmartAsset utilized the popular 50/30/20 budgeting rule — allocating 50% of income for needs, 30% for wants, and 20% for savings or debt — to determine how much money Americans need to earn to live without financial strain.
In Louisiana, here’s what it takes:
$85,322/year for an individual
$199,597/year for a family of four
That ranks Louisiana among the most affordable states in the country for a comfortable lifestyle. Only a few states, such as West Virginia, Arkansas, and Kentucky, require less income to live comfortably.
But even with a relatively low ranking, the numbers reflect the growing cost of living for Louisianians.
Based on this model, the average single adult needs $5,844 more than they did in 2024 to live comfortably. For families of four, the income gap is even higher, with these families needing an additional $9,360 per year.
Where Louisiana ranks
While the rankings suggest that Louisiana is more affordable than most states, the takeaway is more sobering: comfort is becoming more expensive everywhere.
Here’s the full ranking of states, with the income needed for an individual to live comfortably in parentheses:
Here’s the full ranking of states, with the income needed for a family of four to live comfortably in parentheses:
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