Is $40,000 a good salary in Norman Wells, Northwest Territories?
Is $40,000 a good salary in Norman Wells, Northwest Territories?
$40,000 is $46,400 less than the average yearly salary of $86,400 in Norman Wells. A salary of $40,000 per year means that you would be taking home about $33,020 per year after taxes, or $2,752 per month to pay for things like housing, transportation, groceries, and entertainment. The average household income in Norman Wells is $170,000.
Updated: October 1, 2023
Average Cost of Living per Month in Norman Wells
The average cost of living in Norman Wells is $3,683/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
$3,683/month
Monthly net income of $40,000/year
$2,752/month
Average total income in 2020
$86,400
Average total household income in 2020
$170,000
Average Salary in Norman Wells
The average salary in Norman Wells is $86,400, which is 58.7% higher than the Canadian average salary of $54,450. A person making $40,000 a year in Norman Wells makes 53.7% less than the average working person in Norman Wells and will take home about $33,020.
Cost of Living Calculator
Below are the details used to generate the average Cost of Living for Norman Wells. 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
The average monthly cost of rental housing in Norman Wells is $1,688.
Transit
Driver
Transportation
The average monthly cost for a driver in Norman Wells is $634.
Groceries
The average person spends $504 on groceries per month in Norman Wells.
Utilities
The average monthly cost of utilities in Norman Wells is $168.
Leisure & Entertainment
The average person in Norman Wells spends $156 on leisure & entertainment per month.
Clothing
The average person in Norman Wells spends $40 on clothing per month.
Restaurants
The average person in Norman Wells spends $343 on restaurants per month.
Other
The average person in Norman Wells 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 Norman Wells 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
$3,683/month
Monthly net income of $40,000/year
$2,752/month
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Most affordable cities in Northwest Territories
Avg. Salary
$86,400
Avg. Monthly Net pay
$5,411
Avg. Cost of Living
$3,683
Affordability Index
146.91%
Avg. Salary
$68,100
Avg. Monthly Net pay
$4,376
Avg. Cost of Living
$3,683
Affordability Index
118.8%
Avg. Salary
$79,300
Avg. Monthly Net pay
$4,991
Avg. Cost of Living
$4,299
Affordability Index
116.1%
Avg. Salary
$71,700
Avg. Monthly Net pay
$4,542
Avg. Cost of Living
$4,037
Affordability Index
112.51%
Avg. Salary
$72,800
Avg. Monthly Net pay
$4,607
Avg. Cost of Living
$4,421
Affordability Index
104.21%
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.
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
|
Norman Wells, Northwest Territories | $86,400 | $5,411 | $3,683 |
14690
146.91%
|
|
02
2
|
Fort Smith, Northwest Territories | $68,100 | $4,376 | $3,683 |
11880
118.8%
|
|
03
3
|
Yellowknife, Northwest Territories | $79,300 | $4,991 | $4,299 |
11610
116.1%
|
|
04
4
|
Hay River, Northwest Territories | $71,700 | $4,542 | $4,037 |
11251
112.51%
|
|
05
5
|
Inuvik, Northwest Territories | $72,800 | $4,607 | $4,421 |
10421
104.21%
|
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.
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.