Salary Needed to Live in Newport News as a Retiree
A retired individual (65+) needs approximately $18,754/year to live comfortably in Newport News, VA — including 5% savings.
Comfortable Salary
$18,754
with 5% savings
Bare Minimum
$17,504
no savings buffer
Monthly Expenses
$1,094
10% below national avg
Detailed Monthly Budget for a Retiree in Newport News
| Expense | Newport News | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $101 | $121 | -17% |
| 🛒 Groceries | $19 | $16 | +19% |
| ⚡ Utilities | $14 | $15 | -7% |
| 🚗 Transportation | $16 | $18 | -11% |
| 🛡️ Car Insurance | $162 | $223 | -27% |
| 🏥 Health Insurance | $58 | $56 | +4% |
| 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 | $1,094 | $1,219 | -10% |
How We Calculated the Salary
Monthly expenses:$1,094
Target savings (5%):$62/mo
Monthly after-tax needed:$1,156
Effective tax rate:25%
Gross annual salary needed:$18,754
Other Household Types in Newport News
Related Pages
FAQ
What salary does a retiree need in Newport News?
A retiree needs approximately $18,754/year ($1,563/month gross) to live comfortably in Newport News with a 5% savings rate.
How much is rent for a retiree in Newport News?
A 1-2br senior-friendly in Newport News costs approximately $101/month, which is the largest single expense at 9% of the total budget.
Is Newport News affordable for a retiree?
Yes, Newport News is 10% more affordable than the national average for a retiree.