If you’re single and you only have to worry about taking care of yourself financially, you may be able to live pretty comfortably on a salary of $65,000.
According to the Social Security Administration, the average annual wage in the U.S. was $69,846.57 as of 2024. This means that at $65,000 per year, you’re earning slightly below the national average, though it can still provide a comfortable lifestyle depending on where you live and how you manage your money. But if the cost of living is higher where you live or if you’re carrying significant debt, stretching your paycheck from month to month could be a challenge.
Read on to learn how a $65,000 salary stacks up depending on location and other factors.
Table of Contents
- Is $65K a Good Salary?
- Median Household Income in the US by State
- Average Cost of Living in the US by State
- How to Budget for a $65,000 Salary
- How to Maximize a $65,000 Salary
- What Quality of Life Can You Expect With a $65,000 Salary?
- Is $65,000 a Year Considered Rich?
- Is $65,000 a Year Considered Middle Class?
- What Kinds of Jobs Pay a $65,000 Salary?
- Tips for Living on a $65,000 Salary
- FAQ
Key Points
• With an annual salary of $65,000, you’re earning slightly below what the average worker makes in the U.S.
• How comfortably you can live on $65K depends heavily on your state’s cost of living and your personal expenses.
• Using the 50/30/20 budgeting rule can help you allocate your after-tax income toward needs, wants, and savings each month and keep track of your expenses.
• Strategies such as maximizing employee benefits, paying down debt, and building an emergency fund can help stretch a $65,000 salary further.
• A $65,000 income generally falls within the middle-class range and can be earned in fields such as health care, travel and hospitality, and fundraising.
Is $65K a Good Salary?
If you’re single and child-free, you may be able to get by fairly well on a $65,000 income. But the amount you pay — all on your own — for housing, utility bills, groceries, and other basic costs could be a major factor in how well you’re able to manage. Tools such as a money tracker can help you monitor your spending and spot upcoming bills.
Of course, day-to-day expenses can vary widely depending on where you live. To get an idea of where you stand and whether $65,000 a year is a good salary for you, it can help to look at the cost of living, the state where you live, and how your earnings stack up against the average salary in the U.S.
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Median Household Income in the US by State
When we talk about median household income, we’re dividing the income distribution of all U.S. households into two halves — meaning half of households earn more than that amount, and half earn less. As of 2024 — the most recent data available from the U.S. Census Bureau — the median annual household income in the U.S. was $81,604. Individuals may make more or less depending on where they live, their age, the type of work they do, and other factors. Here’s a summary of the median household income in each state:
| State | Median Household Income |
|---|---|
| Alabama | $66,659 |
| Alaska | $95,665 |
| Arizona | $81,486 |
| Arkansas | $62,106 |
| California | $100,149 |
| Colorado | $97,113 |
| Connecticut | $96,049 |
| Delaware | $87,534 |
| Florida | $77,735 |
| Georgia | $79,991 |
| Hawaii | $100,745 |
| Idaho | $81,166 |
| Illinois | $83,211 |
| Indiana | $71,959 |
| Iowa | $75,501 |
| Kansas | $75,514 |
| Kentucky | $64,526 |
| Louisiana | $60,986 |
| Maine | $76,442 |
| Maryland | $102,905 |
| Massachusetts | $104,828 |
| Michigan | $72,389 |
| Minnesota | $87,117 |
| Mississippi | $59,127 |
| Missouri | $71,589 |
| Montana | $75,340 |
| Nebraska | $76,376 |
| Nevada | $81,134 |
| New Hampshire | $99,782 |
| New Jersey | $104,294 |
| New Mexico | $67,816 |
| New York | $85,820 |
| North Carolina | $73,958 |
| North Dakota | $77,871 |
| Ohio | $72,212 |
| Oklahoma | $66,148 |
| Oregon | $85,220 |
| Pennsylvania | $77,545 |
| Rhode Island | $83,504 |
| South Carolina | $73,350 |
| South Dakota | $76,881 |
| Tennessee | $71,997 |
| Texas | $79,271 |
| Utah | $96,658 |
| Vermont | $82,730 |
| Virginia | $92,090 |
| Washington | $99,389 |
| West Virginia | $60,798 |
| Wisconsin | $77,488 |
| Wyoming | $75,532 |
Recommended: Highest Paying Jobs by State
Average Cost of Living in the US by State
If you live in one of the more expensive states in the U.S., you already know how the high cost of housing, utilities, and other basics can affect your budget. Here’s a breakdown of the average cost of living in the U.S. by state, based on U.S. Bureau of Economic Analysis data.
| State | Average Cost of Living |
|---|---|
| Alabama | $47,096 |
| Alaska | $66,356 |
| Arizona | $56,211 |
| Arkansas | $46,259 |
| California | $67,565 |
| Colorado | $66,448 |
| Connecticut | $66,645 |
| Delaware | $60,131 |
| Florida | $62,618 |
| Georgia | $52,806 |
| Hawaii | $60,711 |
| Idaho | $48,098 |
| Illinois | $60,612 |
| Indiana | $51,821 |
| Iowa | $49,473 |
| Kansas | $51,082 |
| Kentucky | $48,901 |
| Louisiana | $50,454 |
| Maine | $63,046 |
| Maryland | $58,310 |
| Massachusetts | $71,946 |
| Michigan | $54,197 |
| Minnesota | $58,433 |
| Mississippi | $43,947 |
| Missouri | $54,405 |
| Montana | $58,499 |
| Nebraska | $54,512 |
| Nevada | $56,103 |
| New Hampshire | $68,900 |
| New Jersey | $65,873 |
| New Mexico | $48,119 |
| New York | $66,426 |
| North Carolina | $53,334 |
| North Dakota | $58,090 |
| Ohio | $52,708 |
| Oklahoma | $46,319 |
| Oregon | $58,150 |
| Pennsylvania | $59,260 |
| Rhode Island | $58,041 |
| South Carolina | $51,423 |
| South Dakota | $54,100 |
| Tennessee | $51,507 |
| Texas | $54,060 |
| Utah | $52,677 |
| Vermont | $62,629 |
| Virginia | $58,224 |
| Washington | $62,837 |
| West Virginia | $50,286 |
| Wisconsin | $54,705 |
| Wyoming | $55,543 |
How to Budget for a $65,000 Salary
Even if you’re earning a six-figure salary, creating a realistic budget can help you stay on course when it comes to managing your money.
One popular budgeting method that can give you an idea of how to divide up your wages every month is the 50/30/20 rule, which allocates after-tax income to three basic categories:
• 50% to “needs.” This includes essentials such as housing, utilities, food, transportation, insurance payments, and debt payments.
• 30% to “wants,” which encompasses everything from dining out to vacations to shopping.
• 20% to savings for future goals. This category could include extra payments to help pay off loans sooner, savings for a down payment on a home, an IRA or other retirement contributions, or an emergency fund.
Using this method, a $65,000 salary, which comes to about $55,600 a year after federal taxes, or $4,637 each month, might look like this:
• $2,318 spent each month on needs
• $1,391 spent each month on wants
• $927 put toward savings and/or paying down debt each month
While this approach leaves a little left over for entertainment, it may not work for everyone. If you find you need to make some adjustments to fit your circumstances, financial trackers and budget calculators may make it easier to track your spending so you can decide where to cut back.
How to Maximize a $65,000 Salary
Besides thoughtful budgeting, there are several other things you might be able to do to help maximize your $65,000 salary. Here are some strategies to consider.
Make the Most of Employee Perks
Good benefits can sometimes make up for a smaller paycheck or add value to an already solid salary. If your employer’s 401(k) plan offers a matching contribution, it could help you save more for retirement. And if you’re able to work remotely, you might be able to spend less each month on transportation costs or your work wardrobe.
Avoid Account Fees
Small monthly fees can sometimes go unnoticed when you’re worrying about bigger bills, such as your rent or car payment. But with a little research and comparison shopping, you may be able to avoid the common bank fees, credit card fees, and investment fees that can slowly eat away at your hard-earned income.
Pay Bills on Time
Besides the penalty fees you might face if you push your bill-paying limits too far, late payments can take a toll on your credit score, which could affect the interest rate you might pay on a loan or credit card.
Build an Emergency Fund
An unexpected circumstance, such as a costly car repair or a temporary pay cut, can quickly blow up a budget. Setting aside money in an emergency fund could help keep you from falling behind on your regular obligations.
What Quality of Life Can You Expect With a $65,000 Salary?
Everyone has a different idea of contentment, and the amount of money you need to live comfortably may look different from someone else’s. When you’re deciding whether $65,000 is a good salary for you, factors to consider might include:
• Do you want to live in a big city, or is life in the suburbs or a small town more of your thing?
• How much do you like to go out to eat, attend concerts, and travel? Are you willing to sacrifice other things so you can have these experiences?
• If you’re new to your career, is $65,000 a good entry-level salary for the type of job you have? Do you expect to make more later?
• How much are you hoping to save for short- and long-term goals, such as having a wedding, buying a home, or retiring?
• Is a 50/30/20 budget doable on your salary?
Is $65,000 a Year Considered Rich?
“Rich” is a subjective term. If your definition of rich is what the top earners in the U.S. make, $65,000 falls short. According to Internal Revenue Service tax return data summarized by the Tax Foundation, the top 10% of earners made $178,611 or more in 2022, the most recent year for which data is available. The top 5% earned $261,591 or more, and those who made it into the top 1% earned at least $663,164.
But wealth isn’t necessarily determined by the number on a paycheck. If you own much more than you owe, you may still have a high net worth. And if you can live comfortably on $65,000, you may feel richer than someone who earns a six-figure salary but can’t manage to make ends meet.
Recommended: Net Worth Calculator By Age
Is $65,000 a Year Considered Middle Class?
Generally speaking, yes. Pew Research defines “middle-income” Americans as those whose annual income is two-thirds to double the median household income, adjusted for household size. With the latest median income figure of $81,604, a $65,000 annual salary falls easily within this range.
What Kinds of Jobs Pay a $65,000 Salary?
If you’re looking for work, you’ll likely find there’s a wide range of jobs that offer a $65,000 salary, including entry-level positions for new grads, jobs for introverts, and high-paying vocational jobs that don’t necessarily require a degree. According to the Bureau of Labor Statistics, jobs for surgical assistants and technologists, flight attendants, fundraisers, and many more fall within this pay range, although salaries can vary significantly depending on where you live.
Tips for Living on a $65,000 Salary
Proactive planning can play an important role in living well on a $65,000 salary. Here are a few steps that could help make your money go further month to month and year to year.
Live Within Your Means
Before you make a major purchase, consider crunching the numbers again to make sure the costs will work with your budget.
Pay Down Debt
If you’re carrying a balance on your credit cards and paying anywhere near the average interest rate (currently 19.6%), a big chunk of your paycheck could end up going just toward interest each month. If you’re struggling with high-interest debt, you may want to look into debt consolidation or a repayment plan such as the snowball method to help you get back on track.
Save and Invest
Finding a way to save for retirement and other long-term goals can seem like a big ask if you’re struggling to make ends meet. But the sooner you can start stashing away money, the more your savings can grow.
Keep an Eye on Costs
Tracking your spending with an app can help you see where your money is going in real time, which could make it easier to stick to your budget. It can also be a good idea to check your online credit card and bank statements weekly or monthly.
The Takeaway
Is $65K a year a good salary? Though it may not qualify as “rich,” given the average pay in the United States, in many parts of the country, it’s better than the average. And it can provide a comfortable lifestyle — especially if you’re single. The idea of living day to day within your means on $65,000 while also working toward your long-term goals may seem challenging. But having the right attitude, discipline, and financial tools can improve your chances of success. Creating a budget that you can stick to can be an important first step.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
FAQ
Can I live comfortably making $65,000 a year?
You may be able to live comfortably with $65,000 a year in many areas of the country. This will also depend on how you spend your money.
What can I afford with a $65,000 salary?
If you’re single, you can decide your own spending priorities. The 50/30/20 budget rule — which breaks down your costs and how much you may want to put toward your wants, needs, and savings each month — can be a useful tool for deciding what you can afford on a $65,000 salary.
How much does a $65,000 a year salary come out to hourly?
A $65,000 annual salary comes out to about $31.25 per hour if you’re working a 40-hour work week. Your exact rate may differ depending on your hours.
If you make $65,000 a year, how much does that come out to monthly?
If you’re earning $65,000 a year, that comes to about $5,417 per month before taxes. That’s your gross income.
How much does a $65,000 annual salary come out to per day?
If you’re earning $65,000 a year, your pay is about $1,250 for a 40-hour work week, or $250 for an eight-hour workday. That’s assuming you work from Monday to Friday.
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