Here's how much you need to make to live comfortably in Portland, study says

PORTLAND, Ore. (KOIN) — If you’re a single Portland resident making less than $52.90 per hour, you’re not living comfortably, according to a 2024 study published by the financial tech company SmartAsset.

That hourly pay equates to $110,032 per year. Meanwhile, couples living with two children would need to make a combined annual salary of $289,786 to live comfortably, the study states.

“While cost of living premiums and inflation metrics capture the price increases in goods and services, they do not necessarily account for all the additional costs needed to live comfortably – such as a buffer from the stress of living paycheck to paycheck,” SmartAsset said.

SmartAsset reports that it compiled these figures using a “50/30/20” budget and applying the local taxes and cost of necessities.

“The 50/30/20 budget recommends that for sustainable comfort, 50% of your salary should be allocated to your needs, such as housing, groceries and transportation,” the study states. “Thirty percent [should go] toward wants like entertainment and hobbies; and 20% toward paying off debt, saving or investing.”

According to the study, Portland ranks among the worst cities for highest annual salaries needed for a single adult to live in sustainable comfort, ranking 81st out of 99 U.S. cities.

Los Angeles was ranked number 83 with a required annual salary of $110,781. Seattle was among the bottom 10 cities with a required annual salary of $119,392.