Report: It takes more than $55k to live securely in BR
BATON ROUGE- The city has the second-highest cost of living in the state and, according to a new study by Loyola University, it is contributing to peoples' struggle to make ends meet.
A family with two adults and two children must take home at least about $63,648 each year to be economically secure; the amount of money needed to ensure families have basic essentials and live a modest but dignified life. For a single-mother raising one child, she would need to make $47,160 living in the capital region.
The Baton Rouge numbers are slightly higher than the state averages of $55,428 for a family with two adults and $45,840 for a single-mother family.
Researchers said in their report, one third of families are not living economically-secure lives and 80-percent of single-mothers are having trouble, too.
The study blames low wages, hurricanes, and inadequate social programs for reasons why people struggle. It suggests increasing the minimum wage to $10.10, more government-based social programs, and expanding services like food stamps and child care assistance networks. More affordable housing options and transportation investments would also help, researchers added.
New Orleans and Lafayette were ranked the first and third areas with the highest cost of living. Rural areas were the most affordable.