A family of four in the two-county region would need to earn $6,528 a month, or $78,336 a year, to meet its living expenses.
For a family of two adults, the annual earning target would be $49,078 and the monthly outlay for housing, food and other necessities is estimated at $4,090.
How much is cost of living in LA?
According to myapartmentmap.com, the average rent on a one-bedroom LA apartment is $1,949. That’s almost twice the national average rent for a one-bedroom, a mere $977. Need two bedrooms in LA? Expect to pay around $2,846.
What is the average income in California?
What is a livable salary in California?
On average, renters in California make an hourly wage of $21.50 an hour, which is 41.2 percent lower than the necessary hourly wage to afford the cost of living.
What is a good salary for a single person?
Depending on where you live in the United States, the amount needed to live comfortably can vary greatly. While you can get by as a single person on a $22,000 annual salary in Kentucky or Arkansas, you’ll need at least $30,000 in Hawaii or Maryland.
Why is California so expensive?
Why California is so expensive: It’s not just the weather, it’s the regulation. The state of California has some of the most expensive housing in the country. He finds that it’s down to how land use is regulated; each new land-use regulation reduces a Californian city’s housing supply by 0.2 percent per year.
Photo in the article by “Flickr”