HONOLULU, Hawaii (HawaiiNewsNow) - We all know the cost of living in Honolulu is high. Really high.
But a new analysis from 24/7 Wall Street crunched the numbers to figure out just how much a family of four has to bring in to be able to afford a “modest yet adequate standard of living” in Urban Honolulu.
The answer: $9,632 a month.
That’s $115,584 a year ― and the third-highest of any city in the nation, the analysis found.
It’s also significantly higher than the monthly median family income in Honolulu ― $7,975.
Meanwhile, researchers calculated that it costs a single adult $4,296 a month to afford a modest standard of living in Honolulu, or $51,552 a year.
The most expensive city in the country was San Francisco, where a family of four needs to bring in $11,165 a month (or $133,980 a year) to afford a modest lifestyle.
In the no. 2 spot: San Jose.
There, that same family of four would need to bring in $10,720 a month, or $128,640 a year, for a modest standard of living.