Salary Needed to Live in Martha's Vineyard as a Retiree

A retired individual (65+) needs approximately $40,281/year to live comfortably in Martha's Vineyard, MA — including 5% savings.

Comfortable Salary
$40,281
with 5% savings
Bare Minimum
$37,483
no savings buffer
Monthly Expenses
$2,249
83% above national avg

Detailed Monthly Budget for a Retiree in Martha's Vineyard

ExpenseMartha's VineyardNat'l AvgDiff
🏠 1-2BR Senior-Friendly Rent$309$121+155%
🛒 Groceries$32$16+100%
⚡ Utilities$20$15+33%
🚗 Transportation$34$18+89%
🛡️ Car Insurance$273$229+19%
🏥 Health Insurance$79$58+36%
Medicare Supplement$390$200+95%
Prescription Drugs$293$150+95%
Internet + Phone$234$120+95%
Recreation & Social$390$200+95%
Home Maintenance$195$100+95%
Total Monthly$2,249$1,227+83%

How We Calculated the Salary

Monthly expenses:$2,249
Target savings (5%):$127/mo
Monthly after-tax needed:$2,376
Effective tax rate:28%

Gross annual salary needed:$40,281

Other Household Types in Martha's Vineyard

Single Person
$38,748/yr
$2,002/mo expenses
Couple (No Kids)
$54,620/yr
$2,731/mo expenses
Family with Kids
$118,800/yr
$5,643/mo expenses

Related Pages

Living Alone in Martha's VineyardCity OverviewAfford on $75K?Afford on $100K?Cheaper AlternativesCost of Living

FAQ

What salary does a retiree need in Martha's Vineyard?
A retiree needs approximately $40,281/year ($3,357/month gross) to live comfortably in Martha's Vineyard with a 5% savings rate.
How much is rent for a retiree in Martha's Vineyard?
A 1-2br senior-friendly in Martha's Vineyard costs approximately $309/month, which is the largest single expense at 14% of the total budget.
Is Martha's Vineyard affordable for a retiree?
Martha's Vineyard is above the national average for retiree living costs, requiring 83% more salary than the US median.
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