This is the living wage needed for a family of 4 in Minnesota and Wisconsin

The cost of living continues to rise across the U.S. - and that rings true in some states more than others. 

Just how expensive is it? 

What we know: If you're raising a family of four in 2024, you'll need a minimum of $100,000 in 26 U.S. states — that's more than half of America — to be financially secure, according to a new survey by GOBankingRates.

For the rankings, GOBankingRates surveyed annual living expenses for a family of four across the U.S. with data from the 2023 Consumer Expenditure Survey, and for a married couple with children from the Bureau of Labor Statistics. "Living wage" is defined as the income required to cover 50% necessities, 30% discretionary spending and 20% for savings. Using the 50-30-20 budget rule, the study doubled the total annual expenditure on necessities to determine the "living wage" for a family of four in each state. 

How much you need to make in the Midwest

By the numbers: According to the study, a family of four in Minnesota needs a living wage of $96,640, ranking No. 19 for the most-affordable states in the U.S. The annual cost of housing was estimated at $17,623, with the annual cost of groceries around $7,507. The annual cost of healthcare was around $8,090, according to the study. 

In Wisconsin, a family of four needs a living wage of $107,324, ranking No. 30 for most-affordable states in the U.S. The annual cost of housing was estimated at $21,618, with the annual cost of groceries around $9,209. The annual cost of healthcare was around $8,128, according to the study. 

North Dakota ranks No. 15 on the list. There, a family of four needs a living wage of $94,752. The annual cost of housing was estimated at $17,514, with the annual cost of groceries around $7,461. The annual cost of healthcare was around $8,152, according to the study. 

South Dakota ranks No. 25 on the list, with a family of four needing a living wage of $100,000. The annual cost of housing was estimated at $19,686, with the annual cost of groceries around $8,386. The annual cost of healthcare was around $7,805, according to the study. 

In Iowa, a family of four needs a living wage of $91,667, ranking No. 7 on the list. The annual cost of housing was estimated at $16,548, with the annual cost of groceries around $7,049. The annual cost of healthcare was around $7,458, according to the study. 

Hawaii is the most expensive for a family of 4

Digging deeper: Hawaii took the top spot with a whopping living wage of $259,918, followed by Massachusetts at $199,671. California is the third-most expensive, with a living wage of $188,269. New York ranks No. 4 with a $155,738 living wage, and Alaska rounds out the top five with $136,990. 

By comparison, the most affordable state in terms of living wage is West Virginia ($82,338). 

To see the full study of how much living wages are in the U.S., tap or click here.

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