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Louisiana Yearly Expenses
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Multi-State
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US-175-AZ
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FAQ
Average monthly expenses per household: $5,111. The average expenses per month for one consumer unit in 2020 was $5,111. That means the average spending per year is $61,334.
Average living expenses for a single person The average monthly living expenses for a single person in the USA are $3,189, which is $38,266 per year. The average cost for a family of four is $7,095 per month, which is $85,139 per year.
This is a useful rule of thumb to gauge your own ability to afford a rental of your own. If the rental you have your eye on costs $1,000 per month, you should have at least $3,000 in monthly income to comfortably pay that rent without overstretching your finances.
The main idea is to limit your living expenses to roughly 50% of your income. That way, you'll have enough leftover for your savings and fun expenditures.
The Average Monthly Expenses of an American Is: $5,102 One consumer unit spends an average of $5,102 every month in 2018. That implies that the average budget for an American is $61,224 and is a 1.9% increase from the previous year.
Apart from housing expenses, the average cost of living in Los Angeles for a single person is right at $1,000 per month. A family of four will likely be looking at closer to $3,600 per month.
The typical renter in Louisiana spends $850 a month on housing, $173 less than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $721, while the typical rent for a unit with five or more bedrooms is $1,140.
On average, the cost of rent in Louisiana is about $1,113 per month. This puts it in the 40th percentile compared to the nation average cost of rent, which is $1,385. Households in Louisiana have a median income of $4,683 per month so the average renter in Louisiana is spending roughly 24% of their earnings on housing.
According to the latest statistics, the average yearly expenses of a US consumer in 2020 are $61,334. This averages to $5,111 per month. This represents a 2.7 percent fall from 2019, during which average consumer spending in the US was $63,036 the first decrease in years.
The most common rule of thumb to determine how much you can afford to spend on housing is that it should be no more than 30% of your gross monthly income, which is your total income before taxes or other deductions are taken out.
