Quick Answer: what should your salary be to afford an apartment in los angeles?

What is a livable salary in Los Angeles?

The website Gobankingrates.com jumped in and did the math for us in their piece, “How Much Money You Need to Live Comfortably in the 50 Biggest Cities”. They calculated an annual income of $74,371 was about right for the average person to live comfortably in Los Angeles.

What salary do you need to live comfortably in Los Angeles?

You’ll need a staggering six-figure income to live comfortably in Los Angeles: at least $136,207 if you’re paying rent or $150,391 if you own a house. The salary needed to live comfortably in Los Angeles has risen by more than $25,000 in the past year, due to rising annual costs of transportation and utilities.

Can you live in LA on 50000 a year?

Yes, you can survive, but you‘re not likely going to be able to buy real estate anywhere you would want to live or that seems like the California you may imagine. In Los Angeles County the line defined as low income for 1 person is actually $50,500 annually as of March 2018.

Is 70k a good salary in Los Angeles?

70k will afford you a nice 1br apartment in a decent part of town at the least. if you’re working in the 90028 zip code, i would consider somewhere like los feliz. You can definitely make it out here on that. Some people seem to think you have to make an enormous amount of money to survive out here.

Can you live in LA on 40000 a year?

As others have said, you can live in LA on 40k a year. Plenty of people do. It will definitely help if you move to the right area and get some friendly roommates.

Is 100k a good salary in Los Angeles?

If you’re looking in the Los Angeles area, it gets expensive pretty quick. So many people in L.A. are house poor. Then you take into account a couple of cars, the higher insurance rates, etc. $100,000 is still a great salary.

Can you live in Los Angeles on minimum wage?

The minimum wage in Los Angeles is nearly unlivable, if not impossible to live upon. This breaks down the cost of living in Los Angeles versus the minimum wage.

Is 60k a good salary in Los Angeles?

LA is full of good stuff, and 60k is absolutely liveable. I did it at that rate, just watch your debt. Its a fun city and 60k is just enough to make you think you have spending$$ when you really don’t. There’s good food everywhere – and fun to be had for every interest.

What is the cheapest state to live in?

The cheapest state to live in in the United States is Mississippi. Overall, Mississippi’s average cost of living is about 15% lower than the national average cost of living.

Is LA more expensive than NYC?

As for home buying, the median home price in Los Angeles is $788,384 and in New York City is $1,628,124. While the cost of living in New York City is more expensive than Los Angeles, New Yorkers do earn a slightly higher median household income. The median household income in LA is $54,501 and in NYC is $57,782.

What is a livable salary in California?

Living Wage Calculation for California

1 ADULT 2 ADULTS (1 WORKING)
0 Children 2 Children
Living Wage $18.66 $40.83
Poverty Wage $6.13 $12.60
Minimum Wage $12.00 $12.00

Is 50K a good salary in California?

So basically speaking, 50K gross is NOT nearly enough in less you find 2 or 3 roommates to share ALL expenses. Now if you can live/work in some of the more remote areas of Calif. some desert and forest areas, you can possibly make it on that amount, but you would have NO extras. Calif is a very expensive place to live.

How much is 100k a year hourly?

Yearly / Monthly / Weekly / Hourly Converter

If you make $100 per hour, your Yearly salary would be $195,000. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 37.5 hours a week.

What salary do you need to live in NYC?

To live a comfortable and satisfying lifestyle in New York, even when you have roommates splitting the cost, a yearly income of $50,000 or more is ideal.

Is 500k a year rich?

$500,000 a year or higher is a level which I think is considered rich. Anybody who thinks otherwise has no concept of financial reality. Even the government agrees after compromising by raising the income level for when the highest marginal tax bracket kicks in to ~$400,000 from $200,000 back in 2013.

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