Salary Needed to Live in Midland as a Retiree
A retired individual (65+) needs approximately $18,823/year to live comfortably in Midland, TX — including 5% savings.
Comfortable Salary
$18,823
with 5% savings
Bare Minimum
$17,568
no savings buffer
Monthly Expenses
$1,098
10% below national avg
Detailed Monthly Budget for a Retiree in Midland
| Expense | Midland | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $129 | $121 | +7% |
| 🛒 Groceries | $21 | $16 | +31% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $14 | $18 | -22% |
| 🛡️ Car Insurance | $140 | $223 | -37% |
| 🏥 Health Insurance | $59 | $56 | +5% |
| Medicare Supplement | $188 | $200 | -6% |
| Prescription Drugs | $141 | $150 | -6% |
| Internet + Phone | $113 | $120 | -6% |
| Recreation & Social | $188 | $200 | -6% |
| Home Maintenance | $94 | $100 | -6% |
| Total Monthly | $1,098 | $1,219 | -10% |
How We Calculated the Salary
Monthly expenses:$1,098
Target savings (5%):$62/mo
Monthly after-tax needed:$1,160
Effective tax rate:25%
Gross annual salary needed:$18,823
Other Household Types in Midland
Related Pages
FAQ
What salary does a retiree need in Midland?
A retiree needs approximately $18,823/year ($1,569/month gross) to live comfortably in Midland with a 5% savings rate.
How much is rent for a retiree in Midland?
A 1-2br senior-friendly in Midland costs approximately $129/month, which is the largest single expense at 12% of the total budget.
Is Midland affordable for a retiree?
Yes, Midland is 10% more affordable than the national average for a retiree.