Salary Needed to Live in Augusta as a Retiree
A retired individual (65+) needs approximately $20,346/year to live comfortably in Augusta, ME — including 5% savings.
Comfortable Salary
$20,346
with 5% savings
Bare Minimum
$18,933
no savings buffer
Monthly Expenses
$1,136
7% below national avg
Detailed Monthly Budget for a Retiree in Augusta
| Expense | Augusta | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $99 | $121 | -18% |
| 🛒 Groceries | $16 | $16 | 0% |
| ⚡ Utilities | $15 | $15 | 0% |
| 🚗 Transportation | $17 | $18 | -6% |
| 🛡️ Car Insurance | $205 | $229 | -10% |
| 🏥 Health Insurance | $45 | $58 | -22% |
| Medicare Supplement | $192 | $200 | -4% |
| Prescription Drugs | $144 | $150 | -4% |
| Internet + Phone | $115 | $120 | -4% |
| Recreation & Social | $192 | $200 | -4% |
| Home Maintenance | $96 | $100 | -4% |
| Total Monthly | $1,136 | $1,227 | -7% |
How We Calculated the Salary
Monthly expenses:$1,136
Target savings (5%):$64/mo
Monthly after-tax needed:$1,200
Effective tax rate:28%
Gross annual salary needed:$20,346
Other Household Types in Augusta
Related Pages
FAQ
What salary does a retiree need in Augusta?
A retiree needs approximately $20,346/year ($1,696/month gross) to live comfortably in Augusta with a 5% savings rate.
How much is rent for a retiree in Augusta?
A 1-2br senior-friendly in Augusta costs approximately $99/month, which is the largest single expense at 9% of the total budget.
Is Augusta affordable for a retiree?
Yes, Augusta is 7% more affordable than the national average for a retiree.