Salary Needed to Live in Durham as a Retiree
A retired individual (65+) needs approximately $20,537/year to live comfortably in Durham, NC — including 5% savings.
Comfortable Salary
$20,537
with 5% savings
Bare Minimum
$19,168
no savings buffer
Monthly Expenses
$1,198
2% below national avg
Detailed Monthly Budget for a Retiree in Durham
| Expense | Durham | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $127 | $121 | +5% |
| 🛒 Groceries | $21 | $16 | +31% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $16 | $18 | -11% |
| 🛡️ Car Insurance | $225 | $223 | +1% |
| 🏥 Health Insurance | $43 | $56 | -23% |
| Medicare Supplement | $196 | $200 | -2% |
| Prescription Drugs | $147 | $150 | -2% |
| Internet + Phone | $118 | $120 | -2% |
| Recreation & Social | $196 | $200 | -2% |
| Home Maintenance | $98 | $100 | -2% |
| Total Monthly | $1,198 | $1,219 | -2% |
How We Calculated the Salary
Monthly expenses:$1,198
Target savings (5%):$68/mo
Monthly after-tax needed:$1,266
Effective tax rate:25%
Gross annual salary needed:$20,537
Other Household Types in Durham
Related Pages
FAQ
What salary does a retiree need in Durham?
A retiree needs approximately $20,537/year ($1,711/month gross) to live comfortably in Durham with a 5% savings rate.
How much is rent for a retiree in Durham?
A 1-2br senior-friendly in Durham costs approximately $127/month, which is the largest single expense at 11% of the total budget.
Is Durham affordable for a retiree?
Durham is roughly average for retiree costs, requiring a salary close to the national median.