So Mayor Multi-Task was bragging about this story about Sioux Falls being a great place to start a career. Let’s assume you are single, let’s break down the numbers;
$35,942 Yearly Salary
Minus Taxes (30%)
$25,159
Minus Rent ($811 per month, $9,732)
$15,427
Minus Monthly Expenses
Groc – $200 (only food prepared and ate at home)
Health – $250 (premium)
Utilities – $200 (includes phone)
Car/Transporation – $600 (includes gas/ins/car payment)
-$1,250 per month
Left over per month $35.
Now I will admit that if you own your car, that could save you around $400 a month, but you also have to have maintenance and repairs, gas and insurance.
Basically you would have $35 per month left over for investments, savings, hospitality/entertainment, student loans, health insurance deductible and out of pocket expenses, etc. Sorry, but $35 dollars doesn’t even come close to covering these other expenses. This is why many young single people (and families) have multiple jobs, because they just can’t make it off of $35K a year and pay rent.
I have often felt that rent increases in Sioux Falls have far exceeded wage increases and the city council seriously needs to look at rent controls. But we also need to get wages up in this town. I wonder if Paul would like to live off of $35K a year? Maybe he is hinting we need to change the Mayor’s salary?