MINNEAPOLIS (FOX 9) - A new study reveals how much money is "required" for happy living in Minnesota, and the state is in the top 20 when it comes to the highest income needed to live happy.
A survey from Purdue University and GoBankingRates.com found Minnesotans need a minimum annual salary of $105,000 to live happy, with the survey saying "One thing that's likely to help improve the happiness of Minnesotans of all incomes is the relatively low rate of violent and property crime, with rates of just 2.75 and 21.07 per 1,000 residents, respectively."
According to the Minnesota Department of Employment and Economic Development, the average weekly salary in Hennepin County in the fourth quarter of 2021 was $1,673, which totals nearly $87,000 annually. The average weekly salary in Hennepin County is the highest of any Minnesota county.
The study also noted the ideal income for "life satisfaction" in North America is $105,000 — the same as Minnesota's "required" minimum salary.
"Globally, we find that satiation occurs at $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being," said the study’s authors in the journal. The study also noted that the ideal income for "life satisfaction" in North America is $105,000.
"It’s important to keep in mind, though, that ‘happiness’ is subjective. The cost to live comfortably can vary from person to person," GOBankingRates noted.
Minnesota comes in at No. 30 out of all 50 states in terms of minimum income needed to live happy. Hawaii is No. 1, with a $202,965 minimum salary, the website says. New York is No. 2 with a $155,610 minimum salary, followed by California at No. 3 with $149,310 salary "required." Massachusetts is No. 4 with $141,750 and Oregon is No. 5 with $136,605.
Looking at Minnesota's neighbors, it's the state with the second-highest minimum salary "required" to live happy behind South Dakota, where GoBankingRates.com says people need a minimum salary of $106,050 to live happy. In Wisconsin, the website says the "required" salary is $101,220, Iowa is $94,395 and North Dakota is $103,110.
Among the states with the lowest salary needed to live happy were Mississippi ($87,465), Kansas ($90,825), Oklahoma ($92,295) and Alabama ($92,295).
The website adds, "It’s important to keep in mind, though, that "happiness" is subjective. The cost to live comfortably can vary from person to person."