What does it cost to live the ‘American dream’ in Kansas? What one analysis says
Americans are consistently worried about inflation and the cost of living, and a recent analysis bears that out, finding the minimum household income needed to live comfortably in the country’s 50 largest cities is approaching six figures.
Drawing data from various sources, the analysis from finance website GoBankingRates put the minimum national income needed at $89,000 annually, considering factors such as grocery cost and average mortgage expenses. The analysis drew data from Sperling’s BestPlaces, the U.S. Bureau of Labor Statistics Consumer Expenditure Survey and Zillow’s Home Value Index, among other sources.
What it means to live the “American dream” of course varies between individuals, but in its analysis, GoBankingRates followed the 50/30/20 rule as a baseline. The rule states 50% of household income should go to essentials, 30% to discretionary spending and 20% to savings and debt repayment.
Wichita was included in GoBankingRate’s analysis. Here’s a look at the costs that inform its ranking and how the country’s largest cities compare.
How much does it cost to live comfortably in Wichita, KS?
In GoBankingRate’s analysis, Wichita ranks among the most affordable cities in the U.S., taking the No. 48 spot. That makes it a vastly more affordable alternative than the most expensive cities topping the list, such as San Jose, Calif., at No. 1.
Wichita is roughly comparable to Tulsa, Okla., and Detroit, Mich., sitting between the two in terms of cost of living.
GoBankingRates puts the minimum household income for living comfortably in Wichita at $95,000. The baseline cost of living is half of that at $48,000. Living the “American dream” under the website’s analysis means earning double the annual cost of living. Its cost of living analysis considers expenses for households with married couples who have children.
The median household income in Kansas stands at $70,333, according to a 2023 estimate from the U.S. Census Bureau’s American Community Survey. For married-couple families specifically, the median household income is higher at $103,964, also per 2023 Census data, the latest available.
In Wichita, Census data puts the median household income at $61,281.
Grocery costs per year in Wichita amount to $8,608, according to GoBankingRates. The average monthly mortgage cost is $1,134.
How do other cities compare on the ‘American dream?’
Here are the top 10 large U.S. cities where the living the “American dream” has the highest income threshold, according to GoBankingRates:
1. San Jose, Calif.: $319,000
2. San Francisco: $297,000
3. San Diego, Calif.: $242,000
4. Los Angeles: $234,000
5. New York City: $220,000
6. Long Beach, Calif.: $215,000
7. Seattle: $212,000
8. Oakland, Calif.: $205,000
9. Boston: $199,000
10. Washington, D.C.: $187,000