Assessing Quality of Life in the United States for a $117,555 Annual Income

When considering an annual income of $117,555 in the United States, it is essential to analyze various factors that influence the quality of life, such as cost of living, housing market, access to healthcare, and quality of K-12 schools. Here's a detailed breakdown:

Cost of Living

• National Average Context: The median household income in the U.S. was around $68,703 as of early 2020s. Earning $117,555 places an individual well above the national average, affording a more comfortable lifestyle.
• Regional Variations: Cost of living significantly varies by location. High-income areas like San Francisco or New York City present higher costs in housing, food, and transportation, while smaller cities and rural areas offer more affordability.
• Daily Expenses: With this income, beyond basic needs, individuals can typically afford discretionary spending such as dining out, leisure activities, and travel.

Housing Market

• Home Affordability: The median home price in the U.S as of 2023 is about $380,000. A $117,555 income allows for purchasing a home in many areas, though it may be more challenging in high-cost cities.
• Mortgage Capacity: With a prudent budget, this income can comfortably support a mortgage, typically covering homes priced between $300,000 and $500,000 depending on other financial obligations.
• Rental Market: Renting remains an option in high-cost areas. Given the income, renters can consider premium properties, though savings may be impacted in pricier metros.

Quality of Life

• Discretionary Spending: With higher earnings, individuals experience a better quality of life, allowing for more luxury spending on travel, dining, and recreational activities.
• Work-Life Balance: Adequate income can enable better work-life balance through opportunities for additional time off and vacations.

Access to Healthcare

• Insurance Affordability: The income level facilitates access to good health insurance plans, covering a broad spectrum of healthcare needs.
• Healthcare Quality: Availability of quality healthcare services is high, particularly in urban centers, though costs without insurance can be prohibitive even at this income level.

Quality of K-12 Schools

• Public and Private Options: Families can choose between quality public schools or private education. High-income