Located in the heart of the Willamette Valley, Eugene is a city that effortlessly blends natural beauty with a lively cultural scene. Known for its lush parks, extensive bike trails, and the picturesque Willamette River, Eugene offers a unique lifestyle that appeals to outdoor enthusiasts and urban dwellers alike. If you’ve been thinking about moving to Eugene you’re in the right place. In this article, we’ll explore the pros and cons of living in Eugene to help you decide if it’s the right place for you. Let’s dive in.
Eugene at a Glance
Walk Score: 46 | Bike Score: 72 | Transit Score: 32
Median Sale Price: $490,000 | Average Rent for 1-Bedroom Apartment: $1,700
Eugene neighborhoods | Houses for rent in Eugene | Apartments for rent in Eugene | Homes for sale in Eugene
Pro: Access to outdoor activities
Eugene is renowned for its proximity to a variety of outdoor activities. The city is just a short drive from the Cascade Mountains, where residents can enjoy hiking, skiing, and snowboarding. Additionally, the Willamette River runs through the city, offering opportunities for kayaking, fishing, and riverside picnics. The extensive network of bike trails, including the popular Ruth Bascom Riverbank Path System, makes it easy for cyclists to explore the natural beauty of the area.
Con: Rainy weather
One of the cons of living in Eugene is the frequent rainy weather. The city experiences an average of 155 rainy days per year, which can be a challenge for those who prefer sunny skies. The persistent drizzle and overcast conditions can sometimes dampen outdoor plans and affect mood. Residents often need to invest in quality rain gear and develop a tolerance for the wet climate.
Pro: Strong arts and culture scene
Eugene boasts a thriving arts and culture scene, with numerous galleries, theaters, and music venues. The Hult Center for the Performing Arts hosts a variety of performances, including ballet, opera, and concerts. The city is also home to the University of Oregon, which contributes to a vibrant cultural landscape with its art exhibits, film screenings, and literary events. Additionally, the annual Oregon Bach Festival is a highlight, attracting classical music enthusiasts from around the world.
Con: Limited public transportation
With a Transit Score of 32, Eugene has a public transportation system, but it’s not as extensive or efficient as those found in larger cities. The bus routes can be limited, and service frequency may not meet the needs of all residents. This can make it challenging for those without a car to navigate the city and access certain areas. Additionally, the lack of a light rail or subway system means that commuting options are somewhat restricted.
Pro: Eco-friendly initiatives
Eugene is known for its commitment to sustainability and eco-friendly initiatives. The city has implemented various programs to promote recycling, reduce waste, and encourage the use of renewable energy. Many local businesses and residents participate in composting and urban gardening projects. The city’s dedication to green living is evident in its numerous parks, community gardens, and the emphasis on preserving natural spaces.
Con: High cost of living
The cost of living in Eugene is 9% higher than the national average. The demand for homes and apartments has driven up prices, making it challenging for some people to find affordable accommodations near the city. Additionally, the cost of goods and services can be higher than in other parts of Oregon. This can be a significant consideration for those working with tight budget.
Pro: Local food and farmers markets
Eugene is a haven for food enthusiasts, with a strong emphasis on locally sourced and organic produce. The city hosts several farmers markets, including the popular Lane County Farmers Market, where locals can purchase fresh fruits, vegetables, and artisanal products. Local restaurants often feature farm-to-table menus, highlighting the region’s agricultural bounty. The emphasis on sustainable and healthy eating is a significant draw for many residents.
Con: Air quality issues
During certain times of the year, Eugene can experience air quality issues due to wildfires in the region. Smoke from nearby fires can drift into the city, leading to hazy skies and health advisories. This can be particularly problematic for individuals with respiratory conditions or sensitivities. While these events are typically seasonal, they can impact outdoor activities and overall quality of life during the affected periods.
Pro: Educational opportunities
As the home of the University of Oregon, Eugene offers a wealth of educational opportunities. The university provides a range of undergraduate and graduate programs, as well as continuing education courses for lifelong learners. The presence of the university also means access to world-class libraries, research facilities, and cultural events.
Con: Limited nightlife
For those who enjoy a bustling nightlife, Eugene may feel somewhat lacking. While there are a few bars, clubs, and live music venues, the options are limited compared to larger cities. The nightlife scene tends to be more subdued, with fewer late-night entertainment choices. This can be a drawback for those looking for vibrant social activities after dark.
Another pro of living in Eugene is the city’s strong sense of community and civic engagement. Residents are often involved in local initiatives, volunteer work, and neighborhood associations. The city hosts numerous community events, such as the Eugene Saturday Market and the Oregon Country Fair, which foster a sense of belonging and connection. This active participation in community life contributes to a welcoming and inclusive atmosphere.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
The city meets urban, suburban and rural in one, with the most well-known motor race in the country: The Indy 500. Apart from raceways and government buildings, Indianapolis is home to stunning waterways, unique memorials and a picturesque charm you won’t find in any other city. Indianapolis is altogether her own city and completely unique.
If you’re moving into Indy or just relocating within city limits, you’ll want to examine this list closely. You’ll find the best neighborhoods in Indianapolis for your needs as you try to make that all-important decision on where to move.
Median 1-BR rent: $1,796
Median 2-BR rent: $1,204
Walk Score: 37/100
Not far from Downtown is the bustling neighborhood of Broad Ripple Village. The district is one for relaxed vibes and a community with tons of playgrounds and small businesses where families love to spend their time. Boutiques, galleries, pubs, breweries, pottery schools and other exciting options collect in this eclectic neighborhood, with reasonably priced apartments and plenty of room.
Median 1-BR rent: $1,022
Median 2-BR rent: $1,145
Walk Score: 37/100
If you’re looking for a super-inclusive neighborhood in Indianapolis, then Crooked Creek is the place for you. It’s considered one of the most inclusive areas in the city, with plenty of activities for the whole family, whatever the age. Everyone can find something in one of the best neighborhoods in Indianapolis.
Crooked Creek is in the northwest part of the city in Marion County and offers you plenty of parks and bike trails, horseback riding options and the Juan Solomon Park. Average rent prices are more affordable, too. It’s farther from the center of the city than many of the other popular neighborhoods so you’ll probably need a car living here.
Median 1-BR rent: $1,399
Median 2-BR rent: $1,722
Walk Score: 84/100
Sometimes called the Mile Square, Downtown Indianapolis is a neighborhood for folks looking for an active life. The neighborhood is full of cocktail bars, local festivals and marathons, art exhibits, dining establishments and coffee shops, among others. Because of the incredible revitalization occurring in the area and the booming boutiques and restaurants, Downtown Indy is one of the most popular areas in the city, especially since rent is actually pretty reasonable here.
Median 1-BR rent: $1,022
Median 2-BR rent: $1,145
Walk Score: 37/100
Another historically inclined neighborhood in Indy is Fall Creek. Here you’ll find plenty of historic houses and tree-lined streets for a gorgeous, comfortable community. Nearby parks surround apartment buildings and modern amenities you’ll love.
The neighborhood went through a total urban revitalization in the early 2000s, turning the area into a cozy place where you have access to the rest of the city within minutes and lots of local dining, work and entertainment opportunities.
Median 1-BR rent: $1,250
Median 2-BR rent: $1,425
Walk Score: 77/100
Another popular neighborhood in Indy is Fountain Square. It’s an affordable neighborhood where singles and professionals flock for the European city square vibe at the central fountain and plaza, along with the active nightlife and walkability of the area.
In Fountain Square, you’ll find tons of cozy apartments, single-family homes and duplexes nestled among the popular bowling alleys, billiard halls, bars, comedy clubs, live music venues and ethically-sourced home goods boutiques. Shop for clothing next door, drop into the local brewery or grab Pad Thai or street tacos at the local eateries. This is the perfect makeup of a best neighborhood in Indianapolis.
Source: Rent./E Washington St.
Median 1-BR rent: $1,022
Median 2-BR rent: $1,145
Walk Score: 37/100
Named for Washington Irving, Irvington is a great neighborhood that’s filled with history and encompasses 545 acres overall. The neighborhood originally came to prominence back in 1875 and stayed as the chic spot into the late 1920s, when Butler University grew up around it. Now, the whole neighborhood is kind of a historical small town within the city with many houses on the National Register of Historic Places.
Irvington is friendly and walkable (though not so much for running errands) with plenty of easy streets and parks and green spaces for tranquil living in the middle of the urban area. You’ll find plenty of shopping and dining, as well, in the neighborhood.
Median 1-BR rent: $1,102
Median 2-BR rent: $1,388
Walk Score: 41/100
Residents in Keystone at the Crossing are predominantly renters, and anyone looking for a familiar vibe will find it right here. The neighborhood suits all types of renters, too, with a concentration of jobs and nightlife in one section for the young professionals or peaceful quiet portions for families looking for some chill atmosphere.
Keystone at the Crossing is also a shopping center focused on the favorite Fashion Mall at Keystone. Apartments in the neighborhood are affordable, comfortable and reasonably easy to find, making it one of the best neighborhoods in Indianapolis.
Median 1-BR rent: $1,711
Median 2-BR rent: $1,099
Walk Score: 89/100
Lockerbie Square is one of the city’s oldest surviving neighborhoods. The historic locale is Downtown and known for the residence of Hoosier poet James Whitcomb Riley. The historic district offers surprisingly affordable rent and plenty of gorgeous architecture and cobblestone streets in a highly walkable area.
In Lockerbie Square, you’ll find some Bavarian influence with German heritage events, year-round festivals and celebrations and plenty of biergartens and Bavarian restaurants. There will definitely be crowds in the hood every time there’s the annual German Fest or other German heritage events going on.
Source: Rent./N College Ave.
Median 1-BR rent: $1,022
Median 2-BR rent: $1,145
Walk Score: 37/100
Meridian-Kessler is just 20 minutes from Downtown, offering residents quick, easy access to pretty much anywhere in the city for a lower housing rate than some of the other popular neighborhoods. It’s the perfect blend of urban and suburban for families and young professionals looking for green spaces, quiet streets and easy access to the main part of the city.
The median age of residents in Meridian-Kessler is 25-34, so the neighborhood is active and home to tons of local events, while the gorgeous Tudor-style houses and Craftsman-style cottages are plentiful and affordable. Butler University is just down the street, too, making it the perfect neighborhood for those working at the University or older students continuing their education.
In Meridian-Kessler, you’ll find tons of amazing local shops and restaurants, too, with offerings like short ribs and Latin American fare. You can also find a mix of books, live music, craft beer, vintage clothing and even a bridal expo at the Indiana State Fairgrounds just nearby.
Median 1-BR rent: $750
Median 2-BR rent: $767
Walk Score: 51/100
Near Eastside is one of those areas of town that’s been reclaimed and turned into a hipster hotspot with trendy new restaurants and developments and loads of amenities urban dwellers are looking for. You’ll find super affordable rentals here, along with retail shops, movie theaters, breweries, coffee shops, fining and more. The vibe in this best neighborhood in Indianapolis is definitely younger millennials.
Median 1-BR rent: $1,022
Median 2-BR rent: $1,145
Walk Score: 37/100
Similar to the other “near” neighborhoods, Near North is close to the heart of the city and made up of several smaller neighborhoods starting to find shape in themselves. The Near North is home to century-old houses, tree-lined streets, cultural landmarks and loads of beauty.
Plus, it’s just a five-minute drive (or Uber) away from the core of Indy, where you’ll find any nightlife or shopping you crave if you haven’t already found it here in the Near North.
Source: Rent./Vivio on Tenth
Median 1-BR rent: $1,045
Median 2-BR rent: $1,200
Walk Score: 44/100
The Near Westside of Indy is a cluster of smaller neighborhoods that attract renters looking for affordable housing near the main urban area of the city. Near Westside is just 15 minutes from downtown and offers more spacious areas at a more affordable price than others a little closer to the busiest parts of town.
Near Westside is also convenient to Bloomington, Lafayette, Terre Haute and other nearby college campus towns.
Median 1-BR rent: $1,022
Median 2-BR rent: $1,145
Walk Score: 37/100
North Willow is a super family-friendly area with affordable rent and plenty of choices for folks looking to settle into a cozy neighborhood with or without the kids. You’ll find it within easy access of Castleton and Keystone at the Crossing areas, as well. Plus, of course, the local entertainment and dining you’ll come to love in one of the best neighborhoods in Indianapolis.
Median 1-BR rent: $1,145
Median 2-BR rent: $1,439
Walk Score: 29/100
Old Northside offers its residents and visitors a blend of historic beauty and modern appeal. Restored Victorian homes are common, some of which have landed themselves a spot on the National Register of Historic Places.
The neighborhood is a few minutes away from IU Health Methodist Hospital, making it the perfect location for folks working there. You can choose from single-family homes with yard space, condos, apartments and more. Old Northside is also home to Indiana’s first-ever gay bar and is the most LGBTQIA+ friendly neighborhood in the city.
In the neighborhood, you’ll be able to visit the Benjamin Harrison Presidential Site and check out local artists at the Harrison Center. You can also participate in regular art events, take a job on the Monon Trail or enjoy the thriving nightlife in the area. Most folks do recommend a car for residents here.
Source: Rent./The Block
Median 1-BR rent: $1,022
Median 2-BR rent: $1,145
Walk Score: 37/100
Some cities have a warehouse district. Indy has the Wholesale District.
Here you’ll find the shimmering lights of theater marquees and elegant soirees, where doormen welcome residents. Circle Centre mall makes way for shoppers, who fill the neighborhood with bustling expectations and a thriving art scene.
Find the best Indianapolis neighborhood for you
You’ve come to the right place to find the best neighborhoods in Indianapolis! With condos, townhouses and single-family apartments for rent in Indianapolis, you’re sure to find the right spot for your lifestyle, be that calm and cozy or hip and happening.
The rent information included in this article is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent. as of November 2021 and is for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
I am a huge fan of simple living and of the do-it-yourself ethic. It’s no surprise then that I am fascinated by homesteading, the lifestyle of “agrarian self-sufficiency”. This article was written for Get Rich Slowly by Phelan, host of A Homesteading Neophyte, a blog about learning to homestead. Phelan is a regular commenter to this site.
Modern homesteading is a great way to save some of your hard-earned cash. That is if you are not afraid of a little hard work and waking before the rooster. The fast-paced convenient world of today can and will lead you down the path to debt. Four years ago I found myself in a terrible situation: How does one go about feeding a family of four on one hundred dollars for two weeks? Did we have enough money to buy gasoline just to get to work? It was scary not knowing where my family was going. Yet when I planted my first tomato, a thought sprouted in my mind.
My first homesteading goals were just to preserve my garden for the winter, insuring that there was always something to eat. But as my garden grew, so did my ideas.
There are initial costs when it comes to living a self-sufficient life. But all of the things that must be purchased will pay for themselves — the time that takes depends on how you manage them. We purchase our items slowly. Big items come with our tax returns, and only after any outstanding bills are paid. Smaller items are bought on an individual basis, depending what we can afford at the time, usually when we are out buying feed for our livestock. Because of the way we have built our homestead piece-by-piece, and the manner in which we have preserved our foodstuffs, we have money left unspent. Four years ago we would have never have believed this possible.
Homesteading isn’t something that can be done only in rural areas; even urban dwellers can benefit from simple self-sufficient activities:
Buy food stuff in bulk or on sale and preserve them by canning, freezing or drying.
Purchase a layer (standard-size chicken or bantam) for eggs and/or meat. Many cities allow you to have a chicken or two.
Container garden and create a neighborhood co-op, bartering different vegetables with one another.
Some of our start-up costs have been purchasing chickens, seeds, canning jars and equipment. My hot water bath and pressure canner came from someone that was no longer using them. The best advice I can give when it comes to your planning stage, is to talk openly about what you are wanting to do. You might be surprised on what some people have stashed in their attic and are willing to give freely. Check freecycle, your local paper, rural estate sales, garage sales and even try placing an ad in a free, or cheaply-priced paper for your wants/needs.
Once your chickens and seeds are purchased, your only costs will be feed and water (if you are not on a well). Seed saving will insure your next year’s garden. Allowing your hens to hatch eggs will replenish your stock. Be creative when it comes to reusing materials. We use our un-repairable refrigerator to store our feed, a broken fan stand for a sprinkler stand, and cracked hoses for deep soak waters. Save your glass jars to store dried goods in, and milk cartons to start seedlings. Just remember: it’s not white trash, it’s imaginative, frugal and eco-friendly.
My family might be an extreme when it comes to simple living. We are building a new home, a green shelter. Using only locally produced and recycled construction materials and building it ourselves will save us more than half the cost of paying someone else to build it. With a fire place, underground water cooling systems (air-conditioning) and going solar powered, our out of pocket expenses will drop dramatically.
Some other things to reduce expenses are:
Raiding a wood lot and building a wattle fence
Buy fruits and vegetables from a “U-Pick” farm
Making your own pasta, juices, vinegars, wine and dyes
Creating wooden toys
Make your own soap
Making your own yogurt and cheeses
These things do take time and dedication, but just the act of making your own dinners from scratch will save you money. Using flour, eggs, and water to manufacture your own noodles will cost you less than buying the same amount in the pre-made versions. This can be said about most things that you can create from scratch, the base components while at first seem more expensive, are cheaper when compared to their convenient counterparts.
While homesteading can seem daunting at times, it will save you money as well as bring your family closer together. At home, self induced family entertainment, is another benefit of living simply. It also comes with free educational experiences that are rarely taught in a public school system. Check in with your local extension office for free or inexpensive classes for you and your children. Take a drive in the country and look for hand made signs boasting of wares for sale, they can lead you to a wealth of knowledge and new friendships.
Modern homesteading is not for everyone. Yet taking a few of these suggestions and applying them to your own life will make a significant difference on the way you view the world, and the impact on your wallet.
You can read more about Phelan’s adventures in homesteading at her blog, A Homesteading Neophyte. She has also written articles for other publications:
If you’d like to read more along the same lines, I also recommend Pocket Farm, a weblog from a couple looking to achieve Voluntary Simplicity on a farm in Maine. You might also like homestead.org or the forums at Homesteading Today.
For many of us, the idea of making $60,000 a year is nothing short of a dream. But what does that really mean? How much is that an hour before taxes? And after taxes? What kind of lifestyle could you afford with this income?
These are all questions we’ll explore in this article as we take a look at the average hourly wage and how it affects your annual income and after-tax income. We’ll also make necessary calculations to figure out how much you can expect to make after taxes each year, along with strategies for budgeting and saving to make the most out of your money. So if you’re curious about how far $60,000 can stretch in today’s economy, keep reading.
Table of Contents
$60000 a Year Is How Much an Hour?
Assuming you’re working a standard 40-hour week, you’d be raking in a cool $28.80 per hour.
When working 40 hours per week for 52 weeks a year, you’ll clock in 2,080 hours of work.
Divide that $60,000 salary by the 2,080 hours, and there’s your savvy $28.80 per hour rate.
That’s quite the step up from the federal minimum wage, isn’t it? Of course, your exact hourly rate could vary based on your work hours, but one thing’s for sure, you’ll be making a pretty penny.
But what if you work more or less than the standard work week?
Well, the lowest you could go while still making $60,000 a year is $6.8 per hour—albeit by working every waking (and non-waking) hour of the year, which is, let’s face it, impossible.
On the flip side, working less could bump your hourly wage up to a whopping $57.6. To earn this average wage, you would need to work 20 hours a week, which adds up to a total of 1,040 hours. However, this depends on your work schedule and other factors, such as other obligations you may have.
Earnings Disclaimer
It’s important to note that your earnings will remain constant even if you work fewer hours. Therefore, it’s essential to maximize your productivity during your designated work hours.
How Does 60K a Year Compare?
Let’s get down to the nitty-gritty of your $60,000 salary and see how it measures up. In 2023, the United States national median income is $80,893 – a sweet 3.4% jump from 2022. So, with your $60,000 paycheck, you’re actually earning 25% less than the average Joe. Fear not, though! Remember that median household income represents families, not solo earners.
If your household has more than one income earner and rakes in a collective $80,000, congrats! Your clan is pretty close to the median income party in the good ol’ US of A.
Is $28.80 a Good Hourly Rate?
Now, let’s shift gears and approach this with a more analytical lens. Earning $28.80 per hour results in an after-tax income of approximately $46,000 annually, placing an individual or a small family above the 2023 federal poverty threshold.
However, it is crucial to acknowledge that one’s location and the cost of living therein play a significant role in defining a viable salary. For urban dwellers, particularly in places like New York City, the cost of living tends to be higher than the national average.
Consequently, researching the regional costs and evaluating whether a $60,000 salary truly qualifies as a “livable wage” becomes a necessary and prudent step to take.
Is $60K a Year Worth Your Time?
While it might not make you a millionaire in NYC, this annual income can comfortably provide for a solid life in cities like Sioux Falls. All it takes is a knack for smart budgeting and cost-effective living arrangements to thrive on a 60K salary truly.
For singles enjoying solo living, $60,000 can be quite a generous budget.
However, if you have a family to provide for, you might place a higher importance on your time since you have to make sure your family’s needs are met. In the end, it is your decision whether earning $60,000 annually is worth the time you put in.
The key to thriving on this income is a spoonful of discipline in handling finances, carefully saving for retirement, and investing in experiences that enrich your life.
Remember: time is a finite resource – every hour spent on the job is an hour you won’t get back.
So find joy in what you do and make each moment count. Whether you’re a wide-eyed student trading monetary gains for the experience or a devoted family person, always remember that the optimal balance involves valuing both time and money.
How to Make More While Working Less?
Who wouldn’t want to make more money while cutting down on working hours? Guess what – it’s entirely achievable! To unlock this seemingly elusive treasure, you need to utilize your time efficiently and tap into your skills to their maximum potential. Ready to work smarter, not harder? Let’s dive in.
Obtain a High-Paying Position
As there is always room for growth, consider seeking a position offering an increased annual salary. The key to locating these jobs lies in networking within your industry and researching online job postings. An alternative approach is to employ the services of a career coach in discovering opportunities that provide better rewards for your efforts.
All of this can be improved if you focus on achieving high income skills . This includes mastering a particular trade, obtaining a higher degree of education, or investing in yourself so that your salary is more than what you currently make.
Boost Your Earnings with Passive Income
One clever way to maximize your earnings is by reinvesting a part of your salary (from that median wage of $60,000 a year) into opportunities that create passive income. This way, you can watch your bank account grow as you snooze or enjoy that long-awaited vacation without the nagging worry of federal tax.
Excited yet? Take a look at these passive income generators:
Rental properties for a steady income stream
Peer-to-peer lending, becoming the bank and collecting interest
Dividend stocks, reaping the rewards of business growth
Climb Corporate Ladder
Efficient and diligent work within your current job may open the doors for a promotion, increasing your annual earnings beyond median pay and widening your professional responsibilities.
Before taking any major steps, consult with your supervisor to gain insight into the available growth options within the company that may ultimately enhance your yearly salary.
Make Bank with Freelancing
Want more control over your schedule and your finances? Try freelancing! This side hustle lets you make some extra moolah while flexing your skills and giving you the freedom to manage your own hours. Trust us; your work-life balance will thank you.
Intrigued? Check out these freelancing side hustle gigs:
Editing, polishing ideas to perfection
Web design, making the virtual world your oyster
Graphic design, letting your creativity rake in the bucks
Bookkeeping, because everyone needs a numbers wizard
Writing, because the content is king
Remember, nearly anything you do at your 9-to-5 can also be turned into a lucrative freelance service. So go ahead, give it a shot, and earn more on your own terms.
How Does a $60,000 Annual Salary Break Down?
Biweekly Pay Breakdown
Crunching the numbers for a $ 60,000-a-year salary reveals some exciting insights about your earnings every two weeks. Picture yourself working a full-time job, clocking in 40 hours each week with no overtime. Divide that annual salary of $60,000 by the 26 bi-weekly pay periods, and you’re looking at a cool $2,307.7 in your paycheck.
But hold your horses.
Remember the saying, “Nothing’s certain but death and taxes?”
Well, your take-home pay usually ends up lesser than your biweekly paycheck, all thanks to taxes and other deductions such as income taxes, pre-tax deductions (retirement accounts, health savings bank accounts, etc.), FICA (Social Security and Medicare) taxes, state and local taxes, other miscellaneous deductions required by your employer, and health insurance premiums.
Monthly Pay
Now, what if you’re paid monthly? The anticipation of receiving your paycheck might be a tad longer, but imagine the thrill of seeing higher numbers! On a $60,000 annual salary, you’ll bag a monthly paycheck of a whopping $5,000 before taxes and deductions.
You may get paid time off and federal government holidays, depending on your company. For the average person, this means you’re effectively making more money per hour than your hourly rate implies.
How Much is $28.80 an Hour Annually?
Picture this: you make $28.80 an hour, which translates to roughly $59,904 annually. Not only are you ahead of the curve, but you’ll also be earning more than the national average of $58,563 per year, or $28.16 hourly, according to ZipRecruiter.
However, this number can fluctuate based on the total number of hours you work weekly. For instance, working 50 hours a week would increase your annual earnings to $74,880, while a 60-hour workweek would result in an impressive $89,856.
On the other hand, if you work less than 40 hours a week, your salary tapers off accordingly. A 30-hour workweek corresponds to $44,928 a year, while 20 hours of weekly commitment amounts to $29,952 per annum. Thus, it’s crucial to understand the expected work hours when considering a job that pays $28.8 an hour.
At the end of the day, it’s up to you to make the most out of your earnings and work smarter to increase your salary. Whether it’s freelancing, negotiating a higher wage, or taking on more responsibilities, there are numerous ways to increase your annual salary and take charge.
How Does Vacation Impact My Annual Salary?
Vacation offers necessary respite and rejuvenation, but it may come at the cost of impacting one’s annual salary. It is crucial to examine the effects of taking time off on one’s finances.
Paid vacation days are part of most employment contracts and would not result in a salary reduction. Conversely, for employees who must take unpaid vacation days, their annual salary may be affected.
For instance, an individual earning $60,000 annually would receive $2,307.60 bi-weekly. Should they opt for two weeks of unpaid vacation, it would reduce their annual earnings by the same amount. Furthermore, being absent from work may result in missed opportunities for raises or promotions.
Therefore, the importance of considering how vacation impacts one’s annual salary cannot be understated. A balance between taking time off and focusing on career growth should be achieved to ensure financial stability.
Notice
Please note that the salary examples provided are only meant to give you a general idea. Your actual salary will depend on your additional skills, experience, qualifications, and the number of hours you plan to work.
How Much Is $60 000 a Year After Taxes?
Tax implications on a $60,000 salary should be considered thoughtfully, and the actual take-home pay depends on various factors, including your residence. Here, we provide general calculations for residents of tax-free states (for, e.g., Florida) and states with taxes (for, e.g., New York).
For an individual living in Florida, the tax breakdown is as follows:
Annual pre-tax income:
$60,000
Deductions:
$5,968 federal income tax $3,300 FICA taxes
After-tax take-home income:
$50,732
On the other hand, a New York resident’s tax obligations would be:
Annual pre-tax income:
$60,000
Deductions:
$5,968 federal income tax, $3,300 FICA taxes $2,864 New York state tax
After-tax take-home income:
$47,868
Notice the significant difference in after-tax income due to state taxes. It’s essential to bear this in mind when calculating the final earnings from your annual salary.
State By State $60,000 a Year Salary After Taxes in 2023
Just like the federal government, each state and territory has its own tax brackets that are calculated in a similar way.
However, since each state or territory can establish its own marginal tax rates and laws regarding taxable items, the amount of taxes you pay on a $60,000 salary may differ depending on where you live. The following table shows your after-tax salary for the 2023 tax year on a $60,000 salary:
State
Average Income
Alabama
$46,607.00
Alaska
$49,442.00
Arizona
$48,061.71
Arkansas
$46,263.80
California
$47,483.87
Colorado
$47,301.23
Connecticut
$46,592.00
Delaware
$46,678.88
District of Columbia
$46,783.75
Florida
$50,732.00
Georgia
$46,429.00
Hawaii
$45,419.90
Idaho
$46,841.29
Illinois
$46,472.00
Indiana
$47,504.00
Iowa
$46,378.56
Kansas
$46,679.00
Kentucky
$46,580.50
Louisiana
$47,473.25
Maine
$46,484.63
Maryland
$46,756.13
Massachusetts
$46,442.00
Michigan
$46,892.00
Minnesota
$46,646.36
Mississippi
$46,857.00
Missouri
$47,090.06
Montana
$46,289.03
Nebraska
$46,792.90
Nevada
$49,442.00
New Hampshire
$49,442.00
New Jersey
$47,619.50
New Mexico
$47,416.05
New York
$47,868.09
North Carolina
$47,084.23
North Dakota
$48,863.12
Ohio
$48,401.64
Oklahoma
$47,082.13
Oregon
$44,660.75
Pennsylvania
$47,600.00
Rhode Island
$47,540.75
South Carolina
$46,693.40
South Dakota
$49,442.00
Tennessee
$49,442.00
Texas
$49,442.00
Utah
$46,510.46
Vermont
$47,231.98
Virginia
$46,508.25
Washington
$49,442.00
West Virginia
$46,667.00
Wisconsin
$47,194.39
Wyoming
$49,442.00
Source: Worlds Salaries
What Types of Jobs Pay $60,000 Per Year?
There are a variety of jobs that pay $60,000 per Year. Here are some examples:
Cargo pilot
Makeup artist
Real estate agent
Dental hygienist
Instrument technician
Insurance agent
Power plant operator
HVAC supervisor
Yoga Instructor
Nuclear medicine technologist
Railroad conductor
Web developer
Sales representative
Claims adjuster
Electrical foreman
Truck driver
Boilermaker
Occupational therapy assistant
MRI technician
Solar installer
Aircraft Mechanic
Physical therapist assistant
Radiation therapist
Nuclear technician
Owner-operator driver
There are numerous job opportunities available that offer an annual salary of $60,000, as shown in the provided list. You have several options to choose from if you desire a salary of this amount. However, note that the list is not exhaustive but gives a fair indication of the job positions that provide this salary.
How To Budget $60,000 a Year?
Cut Unnecessary Monthly Expenses
Regardless of an individual’s yearly income, living within one’s means should be a priority. Analyzing and adjusting budgets is an effective way to achieve this goal. Identifying and eliminating non-essential expenses can help allocate funds toward debt reduction or savings.
Potential areas for adjustments include:
Gym memberships
Entertainment expenses
Subscription services (magazines, music, etc.)
Frequency of dining out
Cable TV subscriptions
Clothing purchases
Travel expenditures
There could be more that can be reduced or eliminated to ensure proper budgeting of $60,000 a year.
Save for Retirement Early
The earliest you start saving for retirement, the better. Consider starting an IRA or contributing to a 401(k), especially while your income is still relatively high and you can benefit from the employer match. If your employer offers a 401(k) plan, setting aside just 10% of your annual salary (or $6,000 if you make $60,000 a year) can go a long way toward reaching retirement goals.
Avoid High Car Payments
Owning a set of wheels doesn’t have to equate to draining your wallet. Did you know the average monthly loan payment for a new car in the U.S. is almost $600, which represents more than 10% of a $60,000 annual income?
Keep in mind this figure doesn’t even include insurance, fuel, or maintenance costs. Try out these savvy strategies to stay car payment-free:
Opt for a pre-owned vehicle
Select a smaller, more economical car
Purchase a used car with cash
Avoid Credit Card Debt
Using credit cards to fund your lifestyle is a common mistake that can easily lead to debt. A way to avoid credit card debt is by limiting your credit card usage to expenses that you can pay off fully every month. If you can’t afford to pay your credit card bill each month fully, it’s crucial to reassess your spending habits.
Sample Budget For Individuals Earning $60,000 Per Year
If you want to understand better living on a $60,000 salary, consider comparing it to your monthly expenses. As an example, here’s a budget for someone earning $60k per year, which may be helpful.
Category
Monthly Amount
House Rent
$2,200
Utilities (electricity, water, etc.)
$200
Internet/Cable
$100
Transportation
$300
Insurance (car, health, etc.)
$400
Groceries
$400
Dining Out
$200
Entertainment
$100
Clothing
$200
Personal Care
$200
Emergency Fund
$200
Retirement Savings
$500
Total
$5,000
Note: This budget prioritizes basic expenses and avoids debt.
Final Thoughts on a 60K a Year Salary
Yearly salaries can be quite the conversation starter. They’re different everywhere you go, and they’re unique to each individual and profession. A 60K salary might be considered modest in certain corners of the world, while in other places, it’s a pretty sweet deal.
Just imagine living in the bustling metropolis of New York City – you’d need almost twice that amount to make ends meet! But set foot in rural Mississippi, and you’ll find that life on a 60K income can be quite lavish. To live your best life on a $60,000 salary, you only need a bit of financial savvy:
Live beneath your means.
Keep an eye on your expenditures.
Always invest in yourself and your future.
So, what do you think – could you make it on 60K a year? Share your thoughts in the comments below.
Although it may seem to be at odds with convention, a growing number of renters are buying second, vacation properties even before they purchase their primary residence.
Real estate industry watchers say the trend is borne from the COVID-19 pandemic, and that with remote work now a permanent fixture of many people’s lives, they’re taking advantage of market opportunities to buy small getaway homes that they intend to use primarily for vacations.
Apartment Therapy reported that many of these second-home first buyers are drawn to country cottages and cabin lodge-style homes even while they continue to rent an apartment or home in the city as their primary residence. One factor driving this is that the housing market is red-hot right now and there’s a very limited supply of homes in many markets. But that isn’t always true for some more remote destinations that may serve as an appealing getaway for many urban dwellers.
Jamie Manning, who runs the real estate blog Exposed Brick DC, told Apartment Therapy that she never expected to buy her vacation home in Charlottesville, Va., before purchasing a primary residence in the Washington D.C. area, where she lives. She said she and her partner see their new property as a “true second home” where they can spend weekends and possibly work remotely during the week, whenever they want a break from the city.
“This idea had been on our radar because real estate costs are so high in D.C. that we felt buying here may not be realistic,” Manning told Apartment Therapy. “We have been diligent and saved and were anxious to make some kind of real estate investment. We were craving a change of scenery and a different pace of life.”
The Mortgage Source reported that many buyers are hoping to buy now due to the low interest rates on most mortgages, that some experts say may not last. But they may be priced out of buying in the area they lives due to escalating home prices in competitive markets.
So the idea of buying a second home first means that first-time buyers can invest in real estate while they continue to live in the city, renting a home there. While people would obviously need a large enough income to be able to pay off a mortgage and rent at the same time, Lisa Greene-Lewis, a certified public accountant, told The Mortgage Source there are some financial benefits to be had from such a situation. For example, buyers can deduct the mortgage interest on a vacation home just as it’s possible to do so on a primary residence, and then deduct property taxes up to the cap, Greene-Lewis said.
Another benefit for second home buyers is that they can rent out those properties when they’re not using them themselves as a source of supplemental income.
Real estate professional John Coleman told Apartment Therapy that many of his first-time buyer clients were excited to purchase a home during the pandemic because their travel options elsewhere are very limited.
“Buying and renting out on Airbnb has been very lucrative for some, and it will be interesting to see if that can hold up moving forward,” Coleman said.
Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]
Condos were picked as an affordability favorite early on in the pandemic, with more availability at competitively lower prices (versus urban single family homes), and competition might be higher still for condos with affordability pressures mounting.
Manufactured homes, with far lower prices and more available inventory, offer an opportunity for affordability, until financing gets involved.
Vacant lots might give buyers more time to make a decision, and the opportunity now with falling lumber prices to build exactly what buyers are looking for.
It comes as no surprise to many that the housing market has been largely driven by affordability constraints in recent months, as volatile mortgage rates clash with high home values, and household incomes lag far behind prices. While single family homes dominate much of the available inventory on the market and are how most people imagine the typical ‘home’, there are many other alternative property types. Most offer some reprieve when it comes to affordability.
High density urban living has its (affordability) perks
In the early days of the pandemic, when job centers and urban cores hit the pause button, condos became a widely available and affordable alternative. But with more and more COVID-19 restrictions behind us, accommodation and food service employment on the rise, and homeowners and renters alike drawing back to the urban core, condo inventory dropped off a cliff similar to all other property types during the low mortgage rates of the pandemic, just roughly a year delayed.
As mortgage rates started their climb, condos saw a steep rise in the share of listings with a price cut. But compared to pre-pandemic norms, price cuts on condos haven’t jumped quite as much as for single family homes. Competition for condos, while certainly slowing, is not receding at quite the same cadence as for single family homes. Despite the typical value of a condo matching that of the typical single family home and the pricey addition of a monthly HOA payment, condos may still be an attractive affordable alternative to single family homes for urban dwellers. Condos are concentrated in urban areas where price per square foot is much higher, so the affordability comparison to urban single family homes still puts condos on top (the typical value of urban condos in March was $405,857 compared to $610,583 for urban single family homes).
Manufactured homes might be the answer we have all been looking for
A corner of the market even more known for affordability is manufactured homes. Using the efficiencies of a factory production line, manufactured homes come with a much smaller price tag than site-built (condos and single family) units, giving more opportunities for ownership for lower and middle income households. But the ability to make a structure or structure components affordable at scale is only part of the story.
Still impacted by the price of land and the imbalance of housing supply and demand, the price of manufactured housing has risen significantly over the past three years. Median list prices for manufactured homes reached almost 30% annual growth right before the rate hikes entered the market in early 2022. Despite this the median list price for manufactured homes is still far below that of site-built homes. The tricky side of affordability for manufactured homes comes with financing the purchase.
Many lenders don’t necessarily classify manufactured homes as “real property” in the same way they classify a site-built home. This can lead to higher rates and more challenges with being approved for a mortgage. According to preliminary data from the 2022 Home Mortgage Disclosure Act, [1] the median interest rate on an approved mortgage for a manufactured home purchase was 6.25% – over one full point above the 2022 median rate of 5% for site-built home mortgages. And not all manufactured home mortgages are made equal. From the preliminary 2022 HMDA data, the difference between rates on approved mortgages for manufactured homes where the borrower directly owned the land the home was on and approved mortgages where the borrower was in a paid lease for the land was 5.75% to 8%. With more potential buyers on the edge of qualifying, manufactured home mortgage denial rates topped 41.7% (that is, over 4 out of 10 applicants for manufactured homes are denied) compared to just 7.8% (or about 1 in 14) for site-built mortgage applicants. And for those who are approved for a mortgage on these prefabricated homes – loan limits and loan terms can be another hurdle. The HUD guidelines for manufactured home loans sets a limit of just under $70,000 for the max value for a loan, and the term limit is 20 years, compared to the typical 30 year loan for a site-built home. So while prices of manufactured homes went up so far in the last few years, that $70,000 loan limit doesn’t cover quite as much, requiring higher down payments to keep the loan limit in check.
With these pre-existing premiums on mortgage rates (and stricter mortgages overall) for manufactured homes and lower median incomes among buyers ($64,000 vs $105,000 for site built buyers), the manufactured homes market responded similarly to the single-family market, despite its more affordable price point, as mortgage rates started to rise in early 2022. As the market shifted, sellers for manufactured homes had to adjust their expectations from the rapid acceleration in prices that proceeded early 2022, with manufactured home prices now decelerating fast. As such, the share of listings with a price cut climbed way up from pre-pandemic norms as demand was shut out.
With many prospective buyers likely blocked from the market due to incredibly high rates, manufactured home inventory rose sharply and manufactured homes sat on the market for longer waiting for buyers to be able to break through the affordability barrier.
Vacant lots can provide a world of possibility
Finally, vacant lots are a possible alternative to buying an already built home. These offer the option to build something custom that’s exactly to your liking, which may entice more buyers in today’s market given the low flow of new inventory leaving few existing options to pick over. One benefit in shopping for vacant lots is the slower pace at which these listings move. The typical lot listing went pending after more than two months on the market, giving buyers who are pursuing a build-it-from-the-ground-up plenty of time to critically evaluate all of their options. But much like manufactured homes, lots come with tricky financing. Often requiring a hard money loan which carries a really hefty price tag in a normal market, and even more so now with rates hovering around 6.5%. While the vacant lot market is also slowing down dramatically now that rates have departed their pandemic lows, lumber prices have thankfully come down from an acute pandemic-era price surge, easing the price burden for breaking ground on a new home on these lots.
Even once mortgage rates ease and housing has returned to a more stable market, affordability will remain a challenge. Traditionally constructed units too often do not pencil for builders without luxury features and large sticker prices. Reaching inventory levels able to sustain the current and future flow of demand from strong demographic dynamics (think: a lot of millennials buying their first home at the same time as baby boomers are looking to retire and downsize) will require more creative means of construction and a mortgage market friendlier to manufactured, or other exciting new alternatives like 3D printing and modular construction. With a historically high number of manufactured homes shipping out across the country, perhaps momentum behind affordable inventory is on its way.
[1] From data pulled April 3rd, 2023. The 2022 HMDA data is not officially finalized and is still accepting revisions from lenders.
For many apartment or urban dwellers, living near a green space is a non-negotiable. When people don’t have yards of their own, they often want to be near a community garden or park to help fill that need. Many cities are now building and maintaining community gardens that also frequently help feed underserved neighborhoods.
Here are 5 reasons to get involved with a community garden near you:
1) Fresh food for you (& neighbors!)
When you plant a community garden, you’re working together to plant all kinds of things. In your area’s garden season, many vegetable plants will produce bountiful results, fresh food to eat at home or share with others in the community or surrounding neighborhoods. If your bounty is extremely large, you could make a bulk donation to a local food pantry or similar organization on behalf of your community garden.
2) Chances to socialize with neighbors
Since community gardens are about sharing the work and rewards of a garden, they foster communication between neighbors. Many garden organizations hold events to discuss working and investing in the garden and some even collaborate with farmer’s markets to sell plants and vegetables.
3) Great activity for kids
Kids are likely a part of your community. A garden is a great chance for them to hone their work ethic and sense of responsibility, while enjoying the rewards of a job well done and the joy of sharing.with those less fortunate. Kids love getting their hands dirty with planting seeds and picking vegetables.
4) Beautifies your neighborhood
Community gardens can help with the visual appearance of your neighborhood, turning a forlorn lot into a happy green space and a point of pride. Community gardens positively reflect the people and homes in your neighborhood. They automatically convey a sense of community and collaboration while creating something fun to keep an eye on.
5) Can attract affluent neighbors
Areas with community gardens often attract residents in a higher income bracket. Whether they’re empty nesters or young professionals, garden fans are looking for ways to stay healthy and be a part of their communities. A bonus: If nearby residents are in a higher income bracket, they’ll have more disposable income to contribute to maintaining a community garden.
There are many benefits of living near and being a part of a community garden. Whether you’re looking for a chance to be a part of a community organization or trying to learn how to garden, apartments and homes near community gardens are sure to give you plenty of opportunities.
Former urban dwellers who swapped the city center for smaller towns and suburbs during the COVID-19 pandemic are showing signs that they intend to stay put, the Wall Street Journal reported. Many of them are opening up shops and other small businesses like rental offices at their new locations, which is a sure signal that […]
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