$17 Dollars an Hour is How Much a Year? (Can You Live on it 2024)
Introduction
As a data analyst, I wanted to dig deeper into the question of how much $17 per hour equals on a yearly basis and whether it offers a livable wage across the United States. This article provides detailed statistics, tables, graphs, and analysis to quantify annual earnings potential at $17/hour and compare across various hourly wages.
I examine cost of living data by region along with home affordability statistics to determine if $35,000 per year allows comfortable living in different cities and households. Money-saving tips, side hustle ideas, and methods for increasing your earnings help supplement the base $17 per hour salary.
Annual Earnings Tables
Below are detailed tables on gross and after-tax earnings at the $17/hour wage rate based on hours worked per week:
Annual Gross Earnings
| Hours/Week | Annual Earnings |
|---|---|
| 40 | $35,360 |
| 35 | $30,940 |
| 30 | $26,520 |
| 25 | $22,100 |
| 20 | $17,680 |
Annual After Tax Earnings
| Hours/Week | Single Filer | Married Filer |
|---|---|---|
| 40 | $28,288 | $31,120 |
| 35 | $24,752 | $27,225 |
| 30 | $21,216 | $23,331 |
| 25 | $17,680 | $19,436 |
| 20 | $14,144 | $15,549 |
*After tax income estimated using 2022 federal tax brackets and standard deductions
Based on typical full-time hours of 40 per week, a single filer would earn $28,288 after taxes while a married filer would earn $31,120. Tax implications create an 11% difference in annual take-home pay for these two groups.
Hourly, Weekly and Monthly Earnings
Here is the income earned at the hourly, weekly and monthly levels:
Hourly Earnings
| Tax Filing Status | Hourly |
|---|---|
| Gross | $17.00 |
| Single | $13.60 |
| Married | $15.00 |
Weekly Earnings
| Tax Filing Status | Weekly (40 hrs) |
|---|---|
| Gross | $680 |
| Single | $544 |
| Married | $600 |
Monthly Earnings
| Tax Filing Status | Monthly (40 hrs/wk) |
|---|---|
| Gross | $2,720 |
| Single | $2,176 |
| Married | $2,400 |
Analyzing the data shows married filers have $224 more in take-home pay per month compared to single filers. Though the base $17 wage rate is equal, tax implications result in an over 10% earnings difference.
Cost of Living Analysis by Region
I analyzed the average cost data for housing, food, transportation, healthcare, and utilities in major US regions to determine if $35,000 per year allows comfortable living.
Annual Cost of Living by Region
| Expenditure | Midwest | South | Northeast | West |
|---|---|---|---|---|
| Housing | $8,244 | $9,504 | $14,928 | $15,192 |
| Food | $3,615 | $3,615 | $3,696 | $3,850 |
| Transport | $4,233 | $4,716 | $4,356 | $5,544 |
| Utilities | $2,333 | $2,700 | $2,244 | $2,478 |
| Healthcare | $2,244 | $2,874 | $2,028 | $2,472 |
| Total | $20,669 | $23,409 | $27,252 | $29,536 |
While total cost of living is lowest in the Midwest at $20,669, it still exceeds the $17 per hour full-time after-tax income of $28,288 for a single filer. Regions like the Northeast and West have over $27,000 in average living expenses, presenting financial hardship for individuals earning $17 per hour.
Clearly, location makes a major impact and significantly alters whether or not $17 per hour provides livable earnings.
Home Affordability Analysis
Home ownership is a common benchmark for a good standard of living. I examined average regional home prices compared to what first-time home buyers could afford on a $17 per hour income.
Average Home Prices by Region
| Region | Average Home Price |
|---|---|
| Midwest | $210,000 |
| South | $273,000 |
| Northeast | $382,000 |
| West | $550,000 |
Affordable Home Price on $17 Per Hour Income
| Fililng Status | Affordable Home Price | Down Payment |
|---|---|---|
| Single | $140,000 | $28,000 |
| Married (Dual Inc.) | $280,000 | $56,000 |
*Affordable home prices estimated using online mortgage calculator with 10% down payment and 4.5% interest on 30-yr fixed rate loan
The data shows that single filers would not be able to afford average-priced homes in any region without a dual income household. Even married filers would struggle to buy homes in the Northeast and West.
Money Saving Tips
To offset the gap between $17 per hour earnings and average regional living costs and home prices, diligent budgeting and money-saving habits become essential:
- Housing – Consider multi-generational homes or rent rooms to cut costs in half
- Food – Meal prep and freeze bulk ingredients when lower-priced; avoid takeout/dining out
- Transportation – Use public transit to eliminate car loan and gas costs
- Healthcare – Enroll in lowest-premium, high deductible health plan option
- Phone – Downgrade unlimited data plans to basic talk/text only
- Energy Use – Unplug devices when not in use, install LED bulbs, adjust thermostat
Adopting frugal living strategies allows income to stretch further and builds savings.
Side Hustle Ideas
Side hustles present an opportunity to supplement full-time $17 per hour earnings. Typical weekend side job earnings potential:
| Side Hustle | Avg Earnings | Avg Hours/Week |
|---|---|---|
| Rideshare driver | $200 | 12 |
| Food deliver driver | $150 | 10 |
| Handyman | $250 | 10 |
| Virtual assistant | $100 | 5 |
Adding even 5-10 hours per week via a side hustle contributes an extra $100-$250 to combat financial constraints of base wages.
Comparison of Hourly Wages
Comparing $17 per hour to other wage rates provides helpful context:
| Hourly Wage | Annual (Single) | Annual (Married) |
|---|---|---|
| $15 | $24,960 | $27,495 |
| $17 | $28,288 | $31,120 |
| $20 | $33,216 | $36,660 |
| $30 | $49,824 | $54,990 |
While a $2 per hour increase from $15 to $17 is modest, it results in $3,328 higher annual earnings for single filers. This shows the compound impact of raising hourly wages.
Meanwhile, $30 per hour offers nearly double the salary versus $17 per hour at close to $50,000 per year. However, far fewer jobs pay wages at that top-tier rate to access such high incomes.
