How the cost of living compares in California and New York

AP News
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Posted: Apr 01, 2016 4:06 PM
How the cost of living compares in California and New York

SACRAMENTO, Calif. (AP) — California and New York, two states set to approve a $15 minimum wage, are among the nation's most expensive places to live.

New Yorkers need to make 40 cents more than Californians every hour to earn enough for a normal standard of living, called the living wage, according to calculations by the Department of Urban Studies and Planning at the Massachusetts Institute of Technology.

While food, housing and transportation costs are similar, child care is typically twice as expensive in New York, and a single adult pays about $600 less in state taxes every year in California.

Here's how far a living wage goes in the two states, with figures based on the annual cost of living for a single adult, unless otherwise specified, and price parities showing how much goods and services cost above the national average.

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CALIFORNIA

Living wage: $12.35 per hour, 40 hours per week

Housing: $10,575

Food: $3,607

Transportation: $4,054

Child care (two adults, two children): $9,869

Price parity: 12.3 percent

People living below poverty level: 16.4 percent

Population: 38.8 million

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NEW YORK

Living wage: $12.75 per hour, 40 hours per week

Housing: $11,192

Food: $3,509

Transportation: $3,764

Child care (two adults, two children): $20,250

Price parity: 15.3 percent

People living below poverty level: 15.9 percent

Population: 19.7 million

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Sources: Cost-of-living figures from ongoing MIT study of income and expenses; price parities from the U.S. Bureau of Economic Analysis; population and poverty figures from the U.S. Census Bureau.