Salary Needed to Live in Lexington as a Retiree
A retired individual (65+) needs approximately $18,617/year to live comfortably in Lexington, KY — including 5% savings.
Comfortable Salary
$18,617
with 5% savings
Bare Minimum
$17,376
no savings buffer
Monthly Expenses
$1,086
11% below national avg
Detailed Monthly Budget for a Retiree in Lexington
| Expense | Lexington | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $120 | $121 | -1% |
| 🛒 Groceries | $18 | $16 | +13% |
| ⚡ Utilities | $12 | $15 | -20% |
| 🚗 Transportation | $14 | $18 | -22% |
| 🛡️ Car Insurance | $162 | $223 | -27% |
| 🏥 Health Insurance | $43 | $56 | -23% |
| Medicare Supplement | $186 | $200 | -7% |
| Prescription Drugs | $140 | $150 | -7% |
| Internet + Phone | $112 | $120 | -7% |
| Recreation & Social | $186 | $200 | -7% |
| Home Maintenance | $93 | $100 | -7% |
| Total Monthly | $1,086 | $1,219 | -11% |
How We Calculated the Salary
Monthly expenses:$1,086
Target savings (5%):$61/mo
Monthly after-tax needed:$1,147
Effective tax rate:25%
Gross annual salary needed:$18,617
Other Household Types in Lexington
Related Pages
FAQ
What salary does a retiree need in Lexington?
A retiree needs approximately $18,617/year ($1,551/month gross) to live comfortably in Lexington with a 5% savings rate.
How much is rent for a retiree in Lexington?
A 1-2br senior-friendly in Lexington costs approximately $120/month, which is the largest single expense at 11% of the total budget.
Is Lexington affordable for a retiree?
Yes, Lexington is 11% more affordable than the national average for a retiree.