....and that number would also assume said E-3 is entitled to BAH.
....and how many E-3s do you know live off base?
A single LCpl iving in the barracks makes around $26k a year before taxes. Single Cpl and Sgts are also now required to stay in the barracks as well. That number is pretty generous and doesn't really reflect reality. I don't think there is going to be a huge morale issue, but I will say that the standard of living for Marines in the foreseeable future is going to get a whole lot shittier.
And yet pays no rent and doesn't have to pay for a lot of his/her food either, that is why it is 'equivalent to' $40k in most cases. I didn't know if any single E-3's that didn't stay on base but that was the example used so I went with it, and that is why I said they got a chit as well.