Yahoo Finance How Much Money do You Need to be Happy in These 45 Major US Cities?
Can money truly buy happiness? Turns out that it certainly can, according to a Purdue University study, which examined how much money people need to be happy and whether or not happiness rises as one's income level increases. But there's a catch.
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The study argued that the optimal amount of money it takes to be happy varies worldwide. "That might be surprising as what we see on TV and what advertisers tell us we need would indicate that there is no ceiling when it comes to how much money is needed for happiness, but we now see there are some thresholds," said Andrew T. Jebb, a doctoral student and the lead author of the Purdue University study, in a press release.
The research specifically sought to pinpoint the amount where money no longer changes your level of emotional well-being and "life evaluation." Emotional well-being was measured according to a person's day-to-day emotions, including happy, excited, sad and angry. Life evaluation was defined in terms of overall life satisfaction and was "likely more influenced by higher goals and comparisons to others."
Using the Purdue study's findings, GOBankingRates predicted how much money you would need to make to be happy in 50 of the biggest cities in America. The Purdue researchers determined that, globally, individuals would need an income of $60,000-$75,000 for emotional well-being and an income of $95,000 for life evaluation. The ideal income for life satisfaction in North America is $105,000, which was used as a benchmark for the "salary needed to be happy" category listed in this study.
Are your finances keeping you from being happy?
Albuquerque, New Mexico
Salary you need to be happy: $95,340
Salary you need for life evaluation: $86,260
Salary you need for emotional well-being: $54,480-$68,100
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Atlanta
Salary you need to be happy: $114,870
Salary you need for life evaluation: $103,930
Salary you need for emotional well-being: $65,640-$82,050
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Austin, Texas
Salary you need to be happy: $135,870
Salary you need for life evaluation: $122,930
Salary you need for emotional well-being: $77,640-$97,050
Boston
Salary you need to be happy: $161,070
Salary you need for life evaluation: $145,730
Salary you need for emotional well-being: $92,040-$115,050
Charlotte, North Carolina
Salary you need to be happy: $104,685
Salary you need for life evaluation: $94,715
Salary you need for emotional well-being: $59,820-$74,775
Chicago
Salary you need to be happy: $112,770
Salary you need for life evaluation: $102,030
Salary you need for emotional well-being: $64,440-$80,550
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Colorado Springs, Colorado
Salary you need to be happy: $113,715
Salary you need for life evaluation: $102,030
Salary you need for emotional well-being: $64,440-$80,550
Columbus, Ohio
Salary you need to be happy: $90,720
Salary you need for life evaluation: $82,080
Salary you need for emotional well-being: $51,840-$64,800
Dallas
Salary you need to be happy: $106,050
Salary you need for life evaluation: $95,950
Salary you need for emotional well-being: $60,600-$75,750
Denver
Salary you need to be happy: $134,190
Salary you need for life evaluation: $121,410
Salary you need for emotional well-being: $76,680-$95,850
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El Paso, Texas
Salary you need to be happy: $86,100
Salary you need for life evaluation: $77,900
Salary you need for emotional well-being: $49,200-$61,500
Fort Worth, Texas
Salary you need to be happy: $105,210
Salary you need for life evaluation: $95,190
Salary you need for emotional well-being: $60,120-$75,150
Fresno, California
Salary you need to be happy: $108,465
Salary you need for life evaluation: $98,135
Salary you need for emotional well-being: $61,980-$77,475
Houston
Salary you need to be happy: $100,275
Salary you need for life evaluation: $90,725
Salary you need for emotional well-being: $57,300-$71,625
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Indianapolis
Salary you need to be happy: $92,295
Salary you need for life evaluation: $83,505
Salary you need for emotional well-being: $52,740-$65,925
Jacksonville, Florida
Salary you need to be happy: $98,910
Salary you need for life evaluation: $89,490
Salary you need for emotional well-being: $56,520-$70,650
Kansas City, Missouri
Salary you need to be happy: $92,295
Salary you need for life evaluation: $83,505
Salary you need for emotional well-being: $52,740-$65,925
Las Vegas
Salary you need to be happy: $116,550
Salary you need for life evaluation: $105,450
Salary you need for emotional well-being: $66,600-$83,250
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Long Beach, California
Salary you need to be happy: $167,055
Salary you need for life evaluation: $151,145
Salary you need for emotional well-being: $95,460-$119,325
Los Angeles
Salary you need to be happy: $185,010
Salary you need for life evaluation: $167,390
Salary you need for emotional well-being: $105,720-$132,150
Louisville, Kentucky
Salary you need to be happy: $94,185
Salary you need for life evaluation: $85,215
Salary you need for emotional well-being: $53,820-$67,275
Memphis, Tennessee
Salary you need to be happy: $81,375
Salary you need for life evaluation: $73,625
Salary you need for emotional well-being: $46,500-$58,125
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Mesa, Arizona
Salary you need to be happy: $113,820
Salary you need for life evaluation: $102,980
Salary you need for emotional well-being: $65,040-$81,300
Miami
Salary you need to be happy: $128,520
Salary you need for life evaluation: $116,280
Salary you need for emotional well-being: $73,440-$91,800
Milwaukee
Salary you need to be happy: $88,935
Salary you need for life evaluation: $80,465
Salary you need for emotional well-being: $50,820-$63,525
Minneapolis
Salary you need to be happy: $110,250
Salary you need for life evaluation: $99,750
Salary you need for emotional well-being: $63,000-$78,750
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Nashville, Tennessee
Salary you need to be happy: $108,255
Salary you need for life evaluation: $97,945
Salary you need for emotional well-being: $61,860-$77,325
New York
Salary you need to be happy: $177,030
Salary you need for life evaluation: $160,170
Salary you need for emotional well-being: $101,160-$126,450
Oakland, California
Salary you need to be happy: $185,325
Salary you need for life evaluation: $167,675
Salary you need for emotional well-being: $105,900-$132,375
Oklahoma City
Salary you need to be happy: $88,620
Salary you need for life evaluation: $80,180
Salary you need for emotional well-being: $50,640-$63,300
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Omaha, Nebraska
Salary you need to be happy: $94,290
Salary you need for life evaluation: $85,310
Salary you need for emotional well-being: $53,880-$67,350
Philadelphia
Salary you need to be happy: $110,250
Salary you need for life evaluation: $99,750
Salary you need for emotional well-being: $63,000-$78,750
Phoenix
Salary you need to be happy: $114,135
Salary you need for life evaluation: $103,265
Salary you need for emotional well-being: $65,220-$81,52
Portland, Oregon
Salary you need to be happy: $139,020
Salary you need for life evaluation: $125,780
Salary you need for emotional well-being: $79,440-$99,300
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Raleigh, North Carolina
Salary you need to be happy: $107,520
Salary you need for life evaluation: $97,280
Salary you need for emotional well-being: $61,440-$76,800
Sacramento, California
Salary you need to be happy: $127,680
Salary you need for life evaluation: $115,520
Salary you need for emotional well-being: $72,960-$91,200
San Antonio
Salary you need to be happy: $94,290
Salary you need for life evaluation: $85,310
Salary you need for emotional well-being: $53,880-$67,350
San Diego
Salary you need to be happy: $168,420
Salary you need for life evaluation: $152,380
Salary you need for emotional well-being: $96,240-$120,300
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San Francisco
Salary you need to be happy: $256,200
Salary you need for life evaluation: $231,800
Salary you need for emotional well-being: $146,400-$183,000
San Jose, California
Salary you need to be happy: $225,750
Salary you need for life evaluation: $204,250
Salary you need for emotional well-being: $129,000-$161,250
Seattle
Salary you need to be happy: $176,190
Salary you need for life evaluation: $159,410
Salary you need for emotional well-being: $100,680-$125,850
Tucson, Arizona
Salary you need to be happy: $100,485
Salary you need for life evaluation: $90,915
Salary you need for emotional well-being: $57,420-$71,775
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Tulsa, Oklahoma
Salary you need to be happy: $86,520
Salary you need for life evaluation: $78,280
Salary you need for emotional well-being: $49,440-$61,800
Virginia Beach, Virginia
Salary you need to be happy: $108,465
Salary you need for life evaluation: $98,135
Salary you need for emotional well-being: $61,980-$77,475
Washington, D.C.
Salary you need to be happy: $158,130
Salary you need for life evaluation: $143,070
Salary you need for emotional well-being: $90,360-$112,950
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Jake Arky contributed to the reporting of this article.
Methodology: GOBankingRates determined the cost-of-living-adjusted minimum salary needed to be "happy" based on income satiationlevels identified by Purdue University researchers. Global income satiation levels are the following: $95,000 for "lifeevaluation" and $60,000-$75,000 for "emotional well-being." In North America, the income satiation level is $105,000 for"life evaluation," according to Purdue. To get a city level breakdown, we factored in each city's cost of living index, sourcedfrom Sperling's Best Places. Only the largest 50 cities (in terms of population as sourced from the 2021 AmericanCommunity Survey) were included. All data was collected on and is up to date as of April 25, 2023.
This article originally appeared on GOBankingRates.com: How Much Money do You Need to be Happy in These 45 Major US Cities?
