Can you live in LA on 40000 a year?

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 California?

It's a good annual income for an individual, absolutely. It's even a fairly good household income.

Is 60k a good salary in California?

Can a 60k salary afford living in California? – Quora. Yes, that is only somewhat less than the median household income in California ($71,805 in 2017, per California State Household Income), so as an individual income it is higher than the median California personal income.

Is 120k a good salary in California?

Is 120k a good salary in California? Yes, if you don't want to buy a house. And better in Northern CA, than in Los Angeles or San Diego. Is a base salary of $150,000 enough to live comfortably and save for retirement in the Bay Area?

Can you live in LA on minimum wage?

Rentals You Can Afford on Minimum Wage in LA. It's no secret living in Los Angeles is expensive. With the minimum wage continuing to increase each year to reach $15 an hour by 2020 in the city and the county, the prescribed amount of allotting one-third of one's income for a rental increases, too.

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.

Is 70k a good salary in Los Angeles?

Average number of persons per household is listed as 2.8. So $70K is pretty decent for a single person. It's not great, but with the proper housing arrangement, there should be money left for savings and some fun. 70k is like the average wage for a middleling white collar professional.

Where should I not live in Los Angeles?

Inflation seems constant, especially with real estate, buying or renting. So, at the very least, with 50,000 annual income you could qualify for low income housing. The only problem with that is: there isn't any. What this means that it is finally legal to live in and rent a garage in Los Angeles.

Is 90k a good salary in Los Angeles?

Bottom line is that $90K a year is solidly middle class and well above the LA County median household income. You can not only get by, but you can have all the necessities of life, a few minor luxuries, a small retirement and short term savings each month, and generally live a good quality of live.

Why is LA so expensive?

Originally Answered: Why is living in Los Angeles so expensive? Because of all the illegals. When you put millions of extra illegals and their children in a city like Los Angeles, just about every single cost goes up, especially rent.

Is LA or NYC more expensive?

That's a different story than calling LA “cheaper” than New York. They're both expensive cities with a higher cost of living than most other places in the US, but what you can get for your money on the West Coast is simply more than the East Coast alternative.

How much does it cost to live comfortably in LA?

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.

How much money do you need to live comfortably in California?

In other words, in L.A. it's all about good. 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.

Is 200k a good salary in Los Angeles?

$200,000 a year is a good salary most anywhere. L.A. is a very big place. If you have a salary and no money and you want to buy something eventually, rent at lower than you can afford so you can save for a downpayment. Absolutely you can rent in a decent place in L.A. if you make $200,000 a year.

How much does an apartment in Los Angeles cost?

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.

Is La expensive to visit?

Why You Shouldn't Spend Your Vacation in Los Angeles. Los Angeles has everything a tourist could want, including museums, beaches, theme parks and restaurants. According to data from the study, a five-day vacation will cost around $165 per day, including average daily food costs, public transportation and a hotel.

How much does a house cost in LA?

The median price of homes currently listed in Los Angeles is $859,000 while the median price of homes that sold is $760,200. The median rent price in Los Angeles is $3,500, which is higher than the Los Angeles-Long Beach-Anaheim Metro median of $3,200. Mortgage delinquency is the first step in the foreclosure process.