Salary Needed to Live in Martha's Vineyard as a Retiree
A retired individual (65+) needs approximately $84,376/year to live comfortably in Martha's Vineyard, MA, including 5% savings.
Direct Answer
A retiree needs about $84,376/year to live comfortably in Martha's Vineyard, MA. The bare-minimum salary is $78,517/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $4,977.
The minimum scenario leaves about $4,711/mo after tax and no planned savings. The comfortable scenario uses $7,031/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$84,376
with 5% savings
Bare Minimum
$78,517
$6,543/mo gross, no savings buffer
Monthly Expenses
$4,711
27% 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 | $958 | $1,448 | -34% |
| Groceries | $383 | $189 | +103% |
| Utilities | $245 | $183 | +34% |
| Transportation | $403 | $211 | +91% |
| Car Insurance | $273 | $229 | +19% |
| Health Insurance | $947 | $690 | +37% |
| 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 | $4,711 | $3,720 | +27% |
How We Calculated the Salary
Monthly expenses:$4,711
Target savings (5%):$266/mo
Monthly after-tax needed:$4,977
Effective tax rate:28%
Gross annual salary needed:$84,376
What Drives the Salary Number?
Housing
$958
1-2BR Senior-Friendly rent is 20% of this monthly budget.
Taxes
28%
Estimated federal plus MA state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$266/mo is reserved for savings so the salary is not just break-even.
Local index
195/100
Martha's Vineyard is well above the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby northeast Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $958/mo or adjust the salary target upward.
- Budget $1,502/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $78,517/year as the survival floor and $84,376/year as the healthier negotiation target.
Other Household Types in Martha's Vineyard
Related Pages
FAQ
What salary does a retiree need in Martha's Vineyard?
A retiree needs approximately $84,376/year ($7,031/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 $958/month, which is the largest single expense at 20% 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 27% more salary than the US median.