If you want to live the ‘American Dream,’ GOBankingRates can you tell you where it’s a reality.
A new study highlights the true cost of the ‘American Dream’ in every state.
It looks like you will need at least $107,913 to do so and you might find yourself in the south.
True cost of the American dream: $118,674
Oklahoma is the 6th cheapest place to go if you want that American Dream.
- Annual grocery cost: $11,123.08
- Annual pet care cost: $758.71
- Annual car cost: $8,376
- Annual healthcare cost: $5,749
- Annual utility cost: $5,050
- Annual education cost: $2,348
- Annual child care cost: $15,181
- Annual mortgage cost: $10,752
- Total annual costs: $59,336.99
Researchers defined the American dream as a married couple with two children, a pet, a house and a car.
The study analyzed the annual costs to maintain those things — along with other necessities such as utilities and healthcare — and came up with a final cost needed to achieve the American dream in every state.
GOBankingRates used the live comfortably 50-30-20 rules because living the American dream would include 30% luxury and 20% savings on top.