Salary Needed to Live in New Bedford as a Retiree
A retired individual (65+) needs approximately $20,615/year to live comfortably in New Bedford, MA — including 5% savings.
Comfortable Salary
$20,615
with 5% savings
Bare Minimum
$19,183
no savings buffer
Monthly Expenses
$1,151
6% below national avg
Detailed Monthly Budget for a Retiree in New Bedford
| Expense | New Bedford | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $103 | $121 | -15% |
| 🛒 Groceries | $23 | $16 | +44% |
| ⚡ Utilities | $13 | $15 | -13% |
| 🚗 Transportation | $15 | $18 | -17% |
| 🛡️ Car Insurance | $186 | $229 | -19% |
| 🏥 Health Insurance | $56 | $58 | -3% |
| Medicare Supplement | $196 | $200 | -2% |
| Prescription Drugs | $147 | $150 | -2% |
| Internet + Phone | $118 | $120 | -2% |
| Recreation & Social | $196 | $200 | -2% |
| Home Maintenance | $98 | $100 | -2% |
| Total Monthly | $1,151 | $1,227 | -6% |
How We Calculated the Salary
Monthly expenses:$1,151
Target savings (5%):$65/mo
Monthly after-tax needed:$1,216
Effective tax rate:28%
Gross annual salary needed:$20,615
Other Household Types in New Bedford
Related Pages
FAQ
What salary does a retiree need in New Bedford?
A retiree needs approximately $20,615/year ($1,718/month gross) to live comfortably in New Bedford with a 5% savings rate.
How much is rent for a retiree in New Bedford?
A 1-2br senior-friendly in New Bedford costs approximately $103/month, which is the largest single expense at 9% of the total budget.
Is New Bedford affordable for a retiree?
Yes, New Bedford is 6% more affordable than the national average for a retiree.