If you’re making 48,000 dollars a year, you belong to the middle class. Your salary is above the median income for one person, and more than ⅔ the median household income across the U.S. $48,000 a year is how much an hour, then?
Of course, it’s much more than the minimum. In fact, it’s more than triple the federal minimum wage of $15,600 a year. However, when you convert your salary to an hourly rate, is it still satisfying? $48,000 a year is how much an hour with and without taxes?
48,000 a Year Is How Much an Hour in Dollars?
If your gross income is $48,000 a year, and you’re working 40 hours per week, divide your yearly salary by 2080 – that’s how many working hours there are in a year. Your calculated hourly salary is $23.08. That’s not a lot, but it gives you way more breathing room than the minimum wage.
However, that calculation doesn’t take taxes into account. The government will take a cut from your paycheck, and so will your state. The amount you’ll pay in taxes also depends on your number of dependents and your deductions.
$48,000 a year is how much an hour after taxes? Assuming you’re single with no dependents and taking the standard deduction, your take-home pay will be around $35,179 per year and $16.91 per hour. Otherwise, use an online calculator that will take your circumstances into account.
How Much Is It Per Month and Per Week?
$48,000 a year is $4,000 per month and $923.07 per week. After taxes, you’d be taking home $2931.58 monthly or $676.52 weekly. That’s not a bad paycheck for one person, or for a couple in a state with a low cost of living index.
48,000 a Year Is How Much an Hour in Pounds?
If you’re making £48,000 in the UK, your hourly rate will depend on how many hours per week you’re paid for. Many employers don’t pay for breaks, which means that the average employee works 37.5 hours a week. In that case, your hourly rate will be £24.62.
£48,000 a year is how much an hour left in your pocket? Your take-home pay will be around £36,302 annually and £18.62 per hour. It doesn’t seem like much, but it’s a livable salary. The current living wage in London is £11.05, which means you’ll have plenty of money left over after paying your bills.
What Jobs Pay an $48,000 Annual Salary?
There are many jobs that might pay $48,000 a year. Some of them require a college degree, while others only need on-the-job training. Here are a few examples:
- sports coach,
- health technician,
- payroll and timekeeping clerk,
- agricultural inspector,
- solar panel installer,
- clock repairer.
How does that compare with other salaries? For example, the average salary for a web developer is $85,500 a year. A secondary school teacher in the U.S. makes an average of $67,300 a year. And a social worker’s salary is $52,000 a year.
Is $48,000 a Year a Reasonable Wage?
As you can see, 48,000 dollars a year is a livable salary, but it’s not a lot of money. It’s enough for one adult or a frugal couple to live on, but if you have children, you’ll need to make more money.
$48,000 a year is how much an hour – enough to live in a city or not? It depends. In New York City, for example, the cost of living is much higher than in other parts of the U.S., so $23 hourly will barely cover rent and food if you want to live alone. On the other hand, the living wage in Salt Lake City is only $15.11 an hour.
States Where You Can Live Comfortably on $48,000 Per Year
On the other hand, there are parts of the country where you can live quite comfortably on $48,000 a year and put a portion into savings. Here are a few examples.
- Mississippi: The cost of living in Mississippi is the lowest in the U.S., and your salary will go much further here than in other states.
- Arkansas: The cost of living in Arkansas is also low, and the median household income is only a bit higher than $48,000 a year.
- Oklahoma: The cost of living in Oklahoma is slightly higher than in Mississippi and Arkansas, but it’s still relatively low. And the median household income is around $54,500 a year.
Other states with cheap costs of living include Alabama, Louisiana, West Virginia, and Kentucky.
$48,000 a Year Is Not a Lot, But All Right for One Person
$48,000 a year is not a lot of money, but it’s enough to live on if you’re single or frugal. You can even save some money if you live in a state with a low cost of living index. Just be prepared to budget carefully and make some lifestyle changes if you want to keep your costs down.