Is $40,000 a good salary in Labrador City, Newfoundland and Labrador?

Is $40,000 a good salary in Labrador City, Newfoundland and Labrador?

$40,000 is $41,300 less than the average yearly salary of $81,300 in Labrador City. A salary of $40,000 per year means that you would be taking home about $31,825 per year after taxes, or $2,652 per month to pay for things like housing, transportation, groceries, and entertainment. The average household income in Labrador City is $153,000.

Labrador City, Newfoundland And Labrador
Updated: September 1, 2024

Average Cost of Living per Month in Labrador City

The average cost of living in Labrador City is $4,010/month for a single person who rents.This average is based on many factors including the cost of housing, transportation, groceries, and entertainment.
Average cost of living
$4,010/month
Monthly net income of $40,000/year
$2,652/month
Average total income in 2020
$81,300
Average total household income in 2020
$153,000

Average Salary in Labrador City

The average salary in Labrador City is $81,300, which is 49.3% higher than the Canadian average salary of $54,450. A person making $40,000 a year in Labrador City makes 50.8% less than the average working person in Labrador City and will take home about $31,825.
Net Annual Pay:
$31,825
Income tax breakdown
Hourly Salary:
$20.51
Salary breakdown

Cost of Living Calculator

Below are the details used to generate the average Cost of Living for Labrador City. Change the inputs to match your lifestyle and see how it compares to the average cost of living and a salary of $40,000.
Renter
Homeowner
Housing

Housing

The average monthly cost of rental housing in Labrador City is $1,579.
Transit
Driver
Transportation

Transportation

The average monthly cost for a driver in Labrador City is $658.
Groceries

Groceries

The average person spends $506 on groceries per month in Labrador City.
Utilities

Utilities

The average monthly cost of utilities in Labrador City is $485.
Leisure & Entertainment

Leisure & Entertainment

The average person in Labrador City spends $155 on leisure & entertainment per month.
Clothing

Clothing

The average person in Labrador City spends $40 on clothing per month.
Restaurants

Restaurants

The average person in Labrador City spends $437 on restaurants per month.
Other

Other

The average person in Labrador City spends $150 on miscellaneous goods and services per month.
General Disclaimer: This tool is designed for approximation purposes only and should not be used to replace a legal or accounting authority. To simplify the process, some variables are assumed to calculate the numbers included on this page. The results of this calculator should not be relied upon to determine career or tax decisions.

Your Results

Disclaimer: These numbers estimate what it costs to live in Labrador City based on Numbeo data. People can live in the city for much less, while others may need much more to fund their lifestyle.
Your cost of living
$4,010/month
Monthly net income of $40,000/year
$2,652/month

Jobs paying $40,000+/year

Advanced Care Paramedic
Advanced Care Paramedic
NL Health Services - 630 Jobs
Labrador City, NL
$35.42 - $39.58 / hour
Temporary
28 days ago
Social Worker I
Social Worker I
NL Health Services - 630 Jobs
Labrador City, NL
$37.94 - $42.46 / hour
Full-time
26 days ago
Social Worker I
Social Worker I
NL Health Services - 630 Jobs
Labrador City, NL
$37.94 - $42.46 / hour
Full-time
26 days ago
See all jobs in Labrador City

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Most affordable cities in Newfoundland and Labrador

1. Labrador City, Newfoundland and Labrador
Avg. Salary $81,300
Avg. Monthly Net pay $4,818
Avg. Cost of Living $4,009
Affordability Index
120.18%
2. St. John's, Newfoundland and Labrador
Avg. Salary $55,450
Avg. Monthly Net pay $3,499
Avg. Cost of Living $3,118
Affordability Index
112.22%
3. Happy Valley-Goose Bay, Newfoundland and Labrador
Avg. Salary $60,650
Avg. Monthly Net pay $3,756
Avg. Cost of Living $3,526
Affordability Index
106.52%
4. Gander, Newfoundland and Labrador
Avg. Salary $53,300
Avg. Monthly Net pay $3,383
Avg. Cost of Living $3,613
Affordability Index
93.64%
5. Mount Pearl, Newfoundland and Labrador
Avg. Salary $50,560
Avg. Monthly Net pay $3,236
Avg. Cost of Living $3,628
Affordability Index
89.19%
6. Corner Brook, Newfoundland and Labrador
Avg. Salary $44,920
Avg. Monthly Net pay $2,932
Avg. Cost of Living $3,479
Affordability Index
84.29%
7. Grand Falls-Windsor, Newfoundland and Labrador
Avg. Salary $45,520
Avg. Monthly Net pay $2,965
Avg. Cost of Living $3,537
Affordability Index
83.82%
8. Port Hope Simpson, Newfoundland and Labrador
Avg. Salary $44,200
Avg. Monthly Net pay $2,894
Avg. Cost of Living $3,570
Affordability Index
81.05%
9. Nain, Newfoundland and Labrador
Avg. Salary $44,200
Avg. Monthly Net pay $2,894
Avg. Cost of Living $3,570
Affordability Index
81.05%
10. LaScie, Newfoundland and Labrador
Avg. Salary $44,100
Avg. Monthly Net pay $2,888
Avg. Cost of Living $3,570
Affordability Index
80.9%
11. Rigolet, Newfoundland and Labrador
Avg. Salary $43,600
Avg. Monthly Net pay $2,861
Avg. Cost of Living $3,570
Affordability Index
80.15%
12. Channel-Port aux Basques, Newfoundland and Labrador
Avg. Salary $43,040
Avg. Monthly Net pay $2,830
Avg. Cost of Living $3,570
Affordability Index
79.28%
13. Deer Lake, Newfoundland and Labrador
Avg. Salary $41,520
Avg. Monthly Net pay $2,741
Avg. Cost of Living $3,593
Affordability Index
76.29%
14. Stephenville, Newfoundland and Labrador
Avg. Salary $38,600
Avg. Monthly Net pay $2,570
Avg. Cost of Living $3,490
Affordability Index
73.64%
15. Trepassey, Newfoundland and Labrador
Avg. Salary $40,200
Avg. Monthly Net pay $2,664
Avg. Cost of Living $3,628
Affordability Index
73.42%
16. Hopedale, Newfoundland and Labrador
Avg. Salary $38,600
Avg. Monthly Net pay $2,570
Avg. Cost of Living $3,570
Affordability Index
71.99%
17. Summerford, Newfoundland and Labrador
Avg. Salary $38,000
Avg. Monthly Net pay $2,535
Avg. Cost of Living $3,570
Affordability Index
71%
18. Buchans, Newfoundland and Labrador
Avg. Salary $35,800
Avg. Monthly Net pay $2,406
Avg. Cost of Living $3,570
Affordability Index
67.39%
19. Trout River, Newfoundland and Labrador
Avg. Salary $32,200
Avg. Monthly Net pay $2,195
Avg. Cost of Living $3,570
Affordability Index
61.48%
The Affordability Index is based on a single, non-homeowner, who owns a car.
CareerBeacon obtains its data from 3rd party services and cannot verify its accuracy. The information contained on this page is intended to be used for informational purposes only and should not be used to replace legal authority. The information contained in the demographic reports should not be relied upon for determining career and/or relocation decisions.
Rank City Avg. Salary Avg. Monthly Net pay Avg. Cost of Living Affordability Index
01
1
 Labrador City, Newfoundland and Labrador $81,300 $4,818 $4,009
12018
120.18%
02
2
 St. John's, Newfoundland and Labrador $55,450 $3,499 $3,118
11221
112.22%
03
3
 Happy Valley-Goose Bay, Newfoundland and Labrador $60,650 $3,756 $3,526
10651
106.52%
04
4
 Gander, Newfoundland and Labrador $53,300 $3,383 $3,613
09364
93.64%
05
5
 Mount Pearl, Newfoundland and Labrador $50,560 $3,236 $3,628
08918
89.19%
06
6
 Corner Brook, Newfoundland and Labrador $44,920 $2,932 $3,479
08428
84.29%
07
7
 Grand Falls-Windsor, Newfoundland and Labrador $45,520 $2,965 $3,537
08381
83.82%
08
8
 Port Hope Simpson, Newfoundland and Labrador $44,200 $2,894 $3,570
08105
81.05%
09
9
 Nain, Newfoundland and Labrador $44,200 $2,894 $3,570
08105
81.05%
10
10
 LaScie, Newfoundland and Labrador $44,100 $2,888 $3,570
08090
80.9%
11
11
 Rigolet, Newfoundland and Labrador $43,600 $2,861 $3,570
08014
80.15%
12
12
 Channel-Port aux Basques, Newfoundland and Labrador $43,040 $2,830 $3,570
07928
79.28%
13
13
 Deer Lake, Newfoundland and Labrador $41,520 $2,741 $3,593
07629
76.29%
14
14
 Stephenville, Newfoundland and Labrador $38,600 $2,570 $3,490
07363
73.64%
15
15
 Trepassey, Newfoundland and Labrador $40,200 $2,664 $3,628
07342
73.42%
16
16
 Hopedale, Newfoundland and Labrador $38,600 $2,570 $3,570
07198
71.99%
17
17
 Summerford, Newfoundland and Labrador $38,000 $2,535 $3,570
07100
71%
18
18
 Buchans, Newfoundland and Labrador $35,800 $2,406 $3,570
06738
67.39%
19
19
 Trout River, Newfoundland and Labrador $32,200 $2,195 $3,570
06147
61.48%
The Affordability Index is based on a single, non-homeowner, who owns a car.
CareerBeacon obtains its data from 3rd party services and cannot verify its accuracy. The information contained on this page is intended to be used for informational purposes only and should not be used to replace legal authority. The information contained in the demographic reports should not be relied upon for determining career and/or relocation decisions.

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