$15 an Hour Is $31,200 a Year
If you make $15 per hour working full-time (40 hours/week, 52 weeks/year), your annual salary is $31,200 before taxes. After federal, state, and FICA taxes, you'll take home approximately $25,493 per year.
$15/Hour Salary Breakdown
Tax Breakdown on $31,200
Effective tax rate: 18.3%. Based on 2024 federal brackets, standard deduction, single filer. See your state's exact rate.
Budget on $15/Hour (50/30/20 Rule)
Based on monthly take-home of $2,124:
Is $15 an Hour a Good Salary?
$15/hour ($31,200/year) is below the U.S. median income of $59,228. You can live comfortably in low cost-of-living areas, but may need to budget carefully in expensive cities.
At $15/hour full-time, your gross annual income of $31,200 breaks down to $2,600/month, $600/week, or $120/day before taxes. After all taxes, you'll take home about $2,124 per month.
Following the 30% rule for housing, your maximum recommended rent is $780/month. See what you can afford on this salary in our detailed budget breakdown.
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$15/hr Full Guide