Salary Needed to Live in Norfolk as a Retiree
A retired individual (65+) needs approximately $19,800/year to live comfortably in Norfolk, VA — including 5% savings.
Comfortable Salary
$19,800
with 5% savings
Bare Minimum
$18,480
no savings buffer
Monthly Expenses
$1,155
5% below national avg
Detailed Monthly Budget for a Retiree in Norfolk
| Expense | Norfolk | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $105 | $121 | -13% |
| 🛒 Groceries | $22 | $16 | +38% |
| ⚡ Utilities | $14 | $15 | -7% |
| 🚗 Transportation | $20 | $18 | +11% |
| 🛡️ Car Insurance | $201 | $223 | -10% |
| 🏥 Health Insurance | $54 | $56 | -4% |
| Medicare Supplement | $192 | $200 | -4% |
| Prescription Drugs | $144 | $150 | -4% |
| Internet + Phone | $115 | $120 | -4% |
| Recreation & Social | $192 | $200 | -4% |
| Home Maintenance | $96 | $100 | -4% |
| Total Monthly | $1,155 | $1,219 | -5% |
How We Calculated the Salary
Monthly expenses:$1,155
Target savings (5%):$65/mo
Monthly after-tax needed:$1,220
Effective tax rate:25%
Gross annual salary needed:$19,800
Other Household Types in Norfolk
Related Pages
FAQ
What salary does a retiree need in Norfolk?
A retiree needs approximately $19,800/year ($1,650/month gross) to live comfortably in Norfolk with a 5% savings rate.
How much is rent for a retiree in Norfolk?
A 1-2br senior-friendly in Norfolk costs approximately $105/month, which is the largest single expense at 9% of the total budget.
Is Norfolk affordable for a retiree?
Norfolk is roughly average for retiree costs, requiring a salary close to the national median.