This is the living wage needed for a family of four in Texas

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The cost of living continues to rise across the U.S. - and that rings true in some states more than others.

Just how expensive is it?

If you're raising a family of four in Texas in 2024, you will need $95,763 to be financially secure, according to a new survey by GOBankingRates.

In 26 U.S. states, you'll need a minimum of $100,000.

For the rankings, GOBankingRates surveyed annual living expenses for a family of four across the U.S. with data from the 2023 Consumer Expenditure Survey, and for a married couple with children from the Bureau of Labor Statistics. "Living wage" is defined as the income required to cover 50% necessities, 30% discretionary spending and 20% for savings. Using the 50-30-20 budget rule, the study doubled the total annual expenditure on necessities to determine the "living wage" for a family of four in each state.

Hawaii required the most money with a whopping living wage of $259,918, followed by Massachusetts at $199,671 and California for $188,269. New York ranks #4 with a $155,738 living wage, and Alaska rounds out the top five with $136,990.

By comparison, the most affordable state in terms of living wage is West Virginia ($82,338).

Texas was on the cheaper side of things between both Louisiana ($95,480) and New Mexico ($96,130).

According to the study, the annual cost of housing in the Lone Star State is $17,843, groceries cost $7,601 and healthcare costs $7,319.