Salary Needed to Live in Montgomery as a Retiree
A retired individual (65+) needs approximately $16,714/year to live comfortably in Montgomery, AL — including 5% savings.
Comfortable Salary
$16,714
with 5% savings
Bare Minimum
$15,600
no savings buffer
Monthly Expenses
$975
20% below national avg
Detailed Monthly Budget for a Retiree in Montgomery
| Expense | Montgomery | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $90 | $121 | -26% |
| 🛒 Groceries | $17 | $16 | +6% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $14 | $18 | -22% |
| 🛡️ Car Insurance | $143 | $223 | -36% |
| 🏥 Health Insurance | $53 | $56 | -5% |
| 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 | $975 | $1,219 | -20% |
How We Calculated the Salary
Monthly expenses:$975
Target savings (5%):$55/mo
Monthly after-tax needed:$1,030
Effective tax rate:25%
Gross annual salary needed:$16,714
Other Household Types in Montgomery
Related Pages
FAQ
What salary does a retiree need in Montgomery?
A retiree needs approximately $16,714/year ($1,393/month gross) to live comfortably in Montgomery with a 5% savings rate.
How much is rent for a retiree in Montgomery?
A 1-2br senior-friendly in Montgomery costs approximately $90/month, which is the largest single expense at 9% of the total budget.
Is Montgomery affordable for a retiree?
Yes, Montgomery is 20% more affordable than the national average for a retiree.