If I cut down to bare essentials (i.e. ramen 24x7, bus everywhere), I would be just barely staying afloat on the ~$3500/month after taxes. I've lived paycheck-to-paycheck (and worse than that) before, so I'm sure I could do it if I had to. It's just kind of ridiculous to be barely scratching by at the median household income level, but I guess I chose to live here.
Fortunately, I have enough in savings to keep me afloat for six months at minimum in a catastrophe scenario, so that'll give me quite a bit of wiggle room. I'm also single, childless, and have zero debt outside of my mortgage.
Realistically though, in the city I live in, with the career/resume I have... I'd find another job in my field within a few weeks. If I'm patient and bust my ass in interview prep, I could potentially make significantly more than I already do. But if I just started answering cold calls from recruiters and grabbed the first decent thing, I'd be fine.
Five years ago? 50k would have been a nice pay raise.