TAMPA, Fla. - If you've ever wondered what the price of happiness was in Florida, a new study claims to have the answer.
A survey from Purdue University and GoBankingRates.com found that you need a minimum annual salary of $105,315 to be happy in Florida, finding the Sunshine State to fall just about in the middle of the pack – which might come as a surprise, given the dramatic rise in housing costs in the past several years.
"The Sunshine State is doing pretty well, despite previously high unemployment during the pandemic. Right now, unemployment is at 3.2%," the survey noted. "While you do need to make a bit more than $105,000 to be happy here, well-being is possible at $60,180."
The study also noted that the ideal income for "life satisfaction" in North America is $105,000 – meaning Florida runs right around the average.
"Globally, we find that satiation occurs at $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being," said the study’s authors in the journal.
"It’s important to keep in mind, though, that ‘happiness’ is subjective. The cost to live comfortably can vary from person to person," GOBankingRates noted.
Among the states with the lowest salaries needed to be happy were Mississippi, Kansas, Oklahoma and Alabama; though with the rising costs due to inflation, every state requires over $87,000 annual salary in order to live happily.
As for the states with the highest required salary, they're the ones you probably expect: California, New York and Hawaii. California's required salary is $149,310, New York is $155,610, and in Hawaii, you need to be making over $202,965 in order to be happy, the survey found.
GOBankingRates said it determined the cost-of-living-adjusted minimum salary needed to be happy based on income satiation levels identified by Purdue University researchers. It also factored in each city’s cost of living index, unemployment rate, as well as property and violent crime rates.