To cover basic living expenses in Wilmington, NC, an individual without children needs to make approximately $42,639 per year before taxes. For a household with two working adults and no children, the combined annual income needed before taxes is around $63,060.
Understanding Living Wage in Wilmington, NC
These figures represent the income required to meet essential needs such as housing, food, transportation, healthcare, and other necessities, without accounting for discretionary spending or savings for retirement or education.
The breakdown of the required annual income before taxes for different household compositions is as follows:
| Household Composition | Required Annual Income (Before Taxes) |
|---|---|
| 1 Adult, 0 Children | $42,639 |
| 2 Adults (Both Working), 0 Children | $63,060 |
This income level aims to provide a baseline for financial stability, ensuring that residents can afford the fundamental costs associated with living in the area. It's important to note that these figures are calculated to cover basic expenses and do not include income for savings, entertainment, or other discretionary spending.
