Salary Needed to Live in Martha's Vineyard as a Retiree
A retired individual (65+) needs approximately $40,281/year to live comfortably in Martha's Vineyard, MA — including 5% savings.
Comfortable Salary
$40,281
with 5% savings
Bare Minimum
$37,483
no savings buffer
Monthly Expenses
$2,249
83% above national avg
Detailed Monthly Budget for a Retiree in Martha's Vineyard
| Expense | Martha's Vineyard | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $309 | $121 | +155% |
| 🛒 Groceries | $32 | $16 | +100% |
| ⚡ Utilities | $20 | $15 | +33% |
| 🚗 Transportation | $34 | $18 | +89% |
| 🛡️ Car Insurance | $273 | $229 | +19% |
| 🏥 Health Insurance | $79 | $58 | +36% |
| Medicare Supplement | $390 | $200 | +95% |
| Prescription Drugs | $293 | $150 | +95% |
| Internet + Phone | $234 | $120 | +95% |
| Recreation & Social | $390 | $200 | +95% |
| Home Maintenance | $195 | $100 | +95% |
| Total Monthly | $2,249 | $1,227 | +83% |
How We Calculated the Salary
Monthly expenses:$2,249
Target savings (5%):$127/mo
Monthly after-tax needed:$2,376
Effective tax rate:28%
Gross annual salary needed:$40,281
Other Household Types in Martha's Vineyard
Related Pages
FAQ
What salary does a retiree need in Martha's Vineyard?
A retiree needs approximately $40,281/year ($3,357/month gross) to live comfortably in Martha's Vineyard with a 5% savings rate.
How much is rent for a retiree in Martha's Vineyard?
A 1-2br senior-friendly in Martha's Vineyard costs approximately $309/month, which is the largest single expense at 14% of the total budget.
Is Martha's Vineyard affordable for a retiree?
Martha's Vineyard is above the national average for retiree living costs, requiring 83% more salary than the US median.