Salary Needed to Live in Fargo as a Retiree
A retired individual (65+) needs approximately $18,765/year to live comfortably in Fargo, ND — including 5% savings.
Comfortable Salary
$18,765
with 5% savings
Bare Minimum
$17,497
no savings buffer
Monthly Expenses
$1,079
10% below national avg
Detailed Monthly Budget for a Retiree in Fargo
| Expense | Fargo | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $134 | $121 | +11% |
| 🛒 Groceries | $16 | $16 | 0% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $17 | $18 | -6% |
| 🛡️ Car Insurance | $139 | $211 | -34% |
| 🏥 Health Insurance | $38 | $53 | -28% |
| Medicare Supplement | $188 | $200 | -6% |
| Prescription Drugs | $141 | $150 | -6% |
| Internet + Phone | $113 | $120 | -6% |
| Recreation & Social | $188 | $200 | -6% |
| Home Maintenance | $94 | $100 | -6% |
| Total Monthly | $1,079 | $1,204 | -10% |
How We Calculated the Salary
Monthly expenses:$1,079
Target savings (5%):$61/mo
Monthly after-tax needed:$1,140
Effective tax rate:26%
Gross annual salary needed:$18,765
Other Household Types in Fargo
Related Pages
FAQ
What salary does a retiree need in Fargo?
A retiree needs approximately $18,765/year ($1,564/month gross) to live comfortably in Fargo with a 5% savings rate.
How much is rent for a retiree in Fargo?
A 1-2br senior-friendly in Fargo costs approximately $134/month, which is the largest single expense at 12% of the total budget.
Is Fargo affordable for a retiree?
Yes, Fargo is 10% more affordable than the national average for a retiree.