TAMP, FL. † If you’ve ever wondered what the price of happiness in Florida was, a new study claims to have the answer.
A study from Purdue University and GoBankingRates.com found that you need a minimum annual salary of $105,315 to be happy in Florida, with the Sunshine State falling roughly in the middle of the pack — which may come as a surprise, given the dramatic rise in housing costs in recent years.
“The Sunshine State is doing quite well despite the rather high unemployment rate during the pandemic. Right now, the unemployment rate is 3.2%,” the survey said. “While you need to make a little over $105,000 to be happy here, well-being is possible for $60,180.”
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The study also noted that the ideal income for “life satisfaction” in North America is $105,000, meaning Florida is around the average.
“Globally, we find that satiety occurs at $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being,” the study authors said in the journal.
“However, it’s important to keep in mind that ‘happiness’ is subjective. The cost of living comfortably can vary from person to person,” GOBankingRates noted.
Among the states with the lowest salaries needed to be happy were Mississippi, Kansas, Oklahoma, and Alabama; Though with rising costs due to inflation, every state needs more than $87,000 annual salary to live happily.
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As for the states with the highest required salary, those are the ones you’re likely to expect: California, New York, and Hawaii. California’s required salary is $149,310, New York is $155,610, and in Hawaii you need to earn more than $202,965 to be happy, the survey found.
GOBankingRates said it determined the cost-of-living adjusted minimum salary needed to be happy based on income saturation levels identified by Purdue University researchers. It also took into account each city’s cost of living index, the unemployment rate, as well as property numbers and violent crime.