Salary Needed to Live in Akron as a Retiree
A retired individual (65+) needs approximately $17,513/year to live comfortably in Akron, OH — including 5% savings.
Comfortable Salary
$17,513
with 5% savings
Bare Minimum
$16,330
no savings buffer
Monthly Expenses
$1,007
16% below national avg
Detailed Monthly Budget for a Retiree in Akron
| Expense | Akron | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $117 | $121 | -3% |
| 🛒 Groceries | $21 | $16 | +31% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $14 | $18 | -22% |
| 🛡️ Car Insurance | $162 | $211 | -23% |
| 🏥 Health Insurance | $35 | $53 | -34% |
| Medicare Supplement | $168 | $200 | -16% |
| Prescription Drugs | $126 | $150 | -16% |
| Internet + Phone | $101 | $120 | -16% |
| Recreation & Social | $168 | $200 | -16% |
| Home Maintenance | $84 | $100 | -16% |
| Total Monthly | $1,007 | $1,204 | -16% |
How We Calculated the Salary
Monthly expenses:$1,007
Target savings (5%):$57/mo
Monthly after-tax needed:$1,064
Effective tax rate:26%
Gross annual salary needed:$17,513
Other Household Types in Akron
Related Pages
FAQ
What salary does a retiree need in Akron?
A retiree needs approximately $17,513/year ($1,459/month gross) to live comfortably in Akron with a 5% savings rate.
How much is rent for a retiree in Akron?
A 1-2br senior-friendly in Akron costs approximately $117/month, which is the largest single expense at 12% of the total budget.
Is Akron affordable for a retiree?
Yes, Akron is 16% more affordable than the national average for a retiree.