Salary Needed to Live in Lubbock as a Retiree
A retired individual (65+) needs approximately $16,234/year to live comfortably in Lubbock, TX — including 5% savings.
Comfortable Salary
$16,234
with 5% savings
Bare Minimum
$15,152
no savings buffer
Monthly Expenses
$947
22% below national avg
Detailed Monthly Budget for a Retiree in Lubbock
| Expense | Lubbock | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $87 | $121 | -28% |
| 🛒 Groceries | $13 | $16 | -19% |
| ⚡ Utilities | $14 | $15 | -7% |
| 🚗 Transportation | $11 | $18 | -39% |
| 🛡️ Car Insurance | $127 | $223 | -43% |
| 🏥 Health Insurance | $48 | $56 | -14% |
| Medicare Supplement | $168 | $200 | -16% |
| Prescription Drugs | $126 | $150 | -16% |
| Internet + Phone | $101 | $120 | -16% |
| Recreation & Social | $168 | $200 | -16% |
| Home Maintenance | $84 | $100 | -16% |
| Total Monthly | $947 | $1,219 | -22% |
How We Calculated the Salary
Monthly expenses:$947
Target savings (5%):$53/mo
Monthly after-tax needed:$1,000
Effective tax rate:25%
Gross annual salary needed:$16,234
Other Household Types in Lubbock
Related Pages
FAQ
What salary does a retiree need in Lubbock?
A retiree needs approximately $16,234/year ($1,353/month gross) to live comfortably in Lubbock with a 5% savings rate.
How much is rent for a retiree in Lubbock?
A 1-2br senior-friendly in Lubbock costs approximately $87/month, which is the largest single expense at 9% of the total budget.
Is Lubbock affordable for a retiree?
Yes, Lubbock is 22% more affordable than the national average for a retiree.