Executive Financial Report: May (83253)
Evaluating relocation options in Lemhi? The financial baseline for residing in May, ID (83253) indicates that a single adult needs roughly $3,288 monthly to cover basic survival expenses.
With typical rent and housing utilities averaging an affordable $602 per month—just 18% of baseline expenses—May offers exceptionally competitive shelter costs compared to wider metropolitan averages across Idaho.
To maintain sustainable financial health in May (83253) using the popular 50/30/20 budgeting framework, your essential living expenses ($3,288/month) should not exceed 50% of your net take-home pay. Consequently, an individual needs a target gross annual salary of approximately $78,912 to cover necessities while building savings. On an hourly basis, working a standard 2,080-hour work year requires a minimum hourly living wage of $18.97/hour just to meet basic survival costs.
For a family of four (2 adults and 2 children), basic monthly expenditures in May increase to $6,794 per month ($81,528/year)—approximately 2.1x higher than the single-adult baseline. Childcare premiums and multi-bedroom housing represent the largest contributors to this family budget increase. Compared against the area median family income of $58,829, local wages provide a 1.49x coverage ratio relative to single-adult baseline expenses.
Commuting and transit expenses average $1,028 monthly in 83253, coupled with $434 in healthcare baselines. Tax obligations consume $536 monthly. Local tax structures remain a steady consideration for financial planning. Use our interactive tools below to adjust these benchmarks for your specific situation.