Salary Needed to Live in Ithaca as a Retiree
A retired individual (65+) needs approximately $22,263/year to live comfortably in Ithaca, NY — including 5% savings.
Comfortable Salary
$22,263
with 5% savings
Bare Minimum
$20,717
no savings buffer
Monthly Expenses
$1,243
1% above national avg
Detailed Monthly Budget for a Retiree in Ithaca
| Expense | Ithaca | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $148 | $121 | +22% |
| 🛒 Groceries | $17 | $16 | +6% |
| ⚡ Utilities | $15 | $15 | 0% |
| 🚗 Transportation | $16 | $18 | -11% |
| 🛡️ Car Insurance | $188 | $229 | -18% |
| 🏥 Health Insurance | $50 | $58 | -14% |
| Medicare Supplement | $210 | $200 | +5% |
| Prescription Drugs | $158 | $150 | +5% |
| Internet + Phone | $126 | $120 | +5% |
| Recreation & Social | $210 | $200 | +5% |
| Home Maintenance | $105 | $100 | +5% |
| Total Monthly | $1,243 | $1,227 | +1% |
How We Calculated the Salary
Monthly expenses:$1,243
Target savings (5%):$70/mo
Monthly after-tax needed:$1,313
Effective tax rate:28%
Gross annual salary needed:$22,263
Other Household Types in Ithaca
Related Pages
FAQ
What salary does a retiree need in Ithaca?
A retiree needs approximately $22,263/year ($1,855/month gross) to live comfortably in Ithaca with a 5% savings rate.
How much is rent for a retiree in Ithaca?
A 1-2br senior-friendly in Ithaca costs approximately $148/month, which is the largest single expense at 12% of the total budget.
Is Ithaca affordable for a retiree?
Ithaca is roughly average for retiree costs, requiring a salary close to the national median.