MIT has developed a living wage calculator to estimate the cost of living in your community or region based on typical expenses. The tool helps individuals, communities, and employers determine a local wage rate that allows residents to meet minimum standards of living.
In this CNBC article, state minimum wages were compared with the average living wage for one adult with no dependents according to MIT’s Living Wage Calculator, and found that no state offers a minimum wage that is in line with the living wage.
