NEW ORLEANS — They say money can't buy happiness, but a new study claims otherwise: to be happy in New Orleans, you need to be bringing in about $112,000.
The cost of happiness, actually $112,875, comes from financial site GoBankingRates. They calculated the rates for 50 of the largest cities across the U.S. in a report earlier this month, but added the disclaimer that happiness is subjective and the cost to live happily can vary from person to person.
The number seems high, but their research, which they say is based off a Purdue University study, doesn't specify whether that income was individual or split in a family.
The ideal income for life satisfaction in North America, according to their research, is $105,000.
The site calculated that for New Orleans, the minimum salary you'd need for a positive "emotional well being" is $64,500.
To be satisfied when looking at your life, which they call a "life evaluation," New Orleans residents should ideally have a salary of $102,125 coming in.
But to be truly happy in New Orleans, the study says you need to be making $112,875.
In an article published earlier this year, looking at each state, GoBankingRates found Louisiana residents needed about $98,070 to be happy.
Louisiana uses the federal minimum wage of $7.25 per hour, and state law prohibits local governments from raising the minimum wage beyond that.
Working 40 hours per week, the take-home cash for Louisiana workers on minimum wage is just under $12,100.
That's about $300 under the poverty line outlined by the U.S. Department of Health and Human Services and more than $100,000 short of what GoBankingRates says you need to be happy.