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is 100k a good salary in san jose

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salaries of $100K and below in the super expensive city of San Francisco. Press J to jump to the feed. This was already astonishing news, but wait it gets worse. Once you can split costs, things get a lot easier.). I've been offered a job with 75k salary, plus benefits and all that good stuff. It found that $65,800 is considered “very low,” and $39,500 is “extremely low.”. It’s doable, you just need to look around for the good deals on apartments. San Francisco has been ranked high on several lists when it comes to most expensive and affordability. This week The New York Times reported that San Francisco restaurant owners are having trouble keeping up with rent payments so they cannot afford to hire a wait staff which means diners are now serving themselves more. I lived in San Jose on 52 K, then on 62K, then on 82 K between 1997 and 2007. In order to comfortably raise a family in an expensive coastal city like San Francisco or New York, you've got to make at least $300,000 a year. Minneapolis is high on the list because of its high-income taxes as well as expensive health insurance rates. Are you married or single? If I'm looking to live in a single studio apartment, will I be able to live fairly comfortably with moderation (cook meals at home, takeout once in a while, etc.)? The estimated state tax in Minneapolis ($506) is higher than both San Jose and Washington, D.C. Oxnard, CA also made it because of the high housing costs. A household in San Jose needs to earn more than $204,000 per year to be in the top income quintile, according to a recent study. If not, it's definitely your calling! Don't forget car insurance (expensive in Bay Area), 8.25% sales tax, etc. Will you have to pay for transportation/parking fees? Living in the bay is hard enough. Let me tell you a sad story about who households need to earn multiple-six figures to live a middle class lifestyle today. Now its really up to you. Honestly when you start to consider not only rent but all of the expenses of living by yourself, it adds up to be a lot. I agree with the above poster- roomie situation is best as studios can be very pricey here. new report from the U.S. Department of Housing and Urban Development. Is this comparative or drastically lower adjusted for the cost of living? Buying or renting? No vacation, no Health insurance, no 401 K. Will they be able to buy a hous I'm not sure where everyone gets the idea that a studio is $2000 minimum. Press question mark to learn the rest of the keyboard shortcuts. Do you already have debt? According to Magnify Money, they would have to use their savings or go into credit card debt. I lived in Campbell first and it was solid. I lived in San Jose on 52 K, then on 62K, then on 82 K between 1997 and 2007. Let's say rent is roughly 25k a year, that leaves you with about 30k for everything else. In the Bay Area having a salary of $117,400 qualifies you as “low income” in some counties, according to a new report from the U.S. Department of Housing and Urban Development. Do you have any loans? By using our Services or clicking I agree, you agree to our use of cookies. I am proof that you can be happy and unstressed on any salary. I moved here in September and the best ive seen for a studio that isn't totally sketchy is like $2000. To do this the researchers determined the monthly disposable income of a hypothetical family with one child in 100 metro areas by subtracting monthly expenses, savings, debt, and taxes from an $8,333 monthly paycheck which is equivalent to a $100,000 yearly pre-tax salary. That's doable on $75k. Why? A family would be most at risk financially in San Jose with a $100,000 salary. It depends on your priorities. Also, I’d look in some of the surrounding communities for better housing, and most of the San Jose suburbs have downtown areas with some bars/restaurants etc. Just do the math yourself. There are plenty of 1br for just under $2000. Everyone saying 2k minimum for a studio is full of crap. I think you will be a little below average if you want to live alone. I thought I'd be able to live alone on a 96k salary but honestly without a roommate it wouldn't be comfortable. Of course, this isn’t surprising considering that income levels in the Bay Area are the highest in the U.S. and are just going up. $1700-1800 will get you something livable. electricity (my friend lives in an older but nice loft downtown SJ and his bill is like $200-300 and its still freezing in there), what? If owning a house or having a large space is a goal for you do not move here. I'm sure you can figure out your monthly expenses and go from there. Last month Ladders wrote about how salaries of $100K and below in the super expensive city of San Francisco will put you in the “low income” bracket in some counties around the Bay Area. I make 40k now, living in the midwest. That gives you $31,645 to live on, or about $2,600/month. I just looked at craigslist and hotpads and there were a number of studio units available on their own without roomates for 1500. 10 Best Startups to Work For in San Mateo; How we determined the highest paid jobs in San Jose For 2020. The San Francisco-based restaurant Souvla has runners bring food to the tables but then you are on your own, according to The Times. I live in one of the most expensive places in the US (New York City) on considerably less than $100k a year and live comfortably enough. The report also found that in San Francisco, Marin and San Mateo an income of $105,350 for a family of four is counted as “low income.”, Clearly, incomes of below $100,000 put you in Fantine from Les Miserables territory in where you have to resort to cutting your hair and pulling your teeth for extra money when you aren’t working as the COO of a tech startup. I was able to save, invest, build up an emergency cushion, contribute to my 401K, pay my rent and utilities, pay for healthcare, and manage my car expenses, in spite of having a young child. So if you get something at the lower end of the range, you are looking at maybe $1,850 or $1,900/month plus some utilities. This is definitely contributing to a recent flux of people looking to leave the city. I'd strongly recommend looking for a room mate. WHAT?! It’s doable but you’re not going to be able to own property unless you foresee your income increasing dramatically within the next 5 years. It will be better for you in the long run. In a word, yes. But $2,600 a month if you drive a $40,000 car depreciating $5,000/year, commuting 30 miles (60+ minutes ) in stop and go traffic burning through gas at $3.20/gallon, eating out even just for lunches ($12/meal x 5 days/week = $250/month or 10% of all your spending money), going out for drinks or dinner a couple times a week ($50 each), dating, maybe taking a trip a couple times a year, going to be tight. Sure they're not new luxury buildings, but that's what most of the housing stock in San Jose is.

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November 13, 2020 |

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