• Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.

Curbed L.A.: You Have to Make $145k a Year to Afford Rent on a Two-Bedroom in LA

Status
Not open for further replies.
HORRORSHØW

HORRORSHØW

Member
I used to pay $2300 for a two bedroom apartment in DTLA by Wilshire and Fig.

Currently in Georgia for a few years and rent is dirt cheap. 2 duplexes for $1300.
 
S

starchild excalibur

Member
Yeah, I shit on LA rent as much as anyone else, but that article is definitely disingenuous. The 30% rule is a good rule to have, but not absolutely necessary once you reach a certain income. Gas, Food, discretionary income, and emergency funds don't necessarily scale up just because you're buying a 2 bedroom apartment over a bachelor unit. Size of family is a bigger factor than anything else.

I currently pay $625 + utilities for my room in a 2 bedroom apartment in San Gabriel. $1250/mo is definitely below the norm for a 2 bedroom even in SGV, but $3300 is definitely higher than the norm here, too.
 
F

flaxknuckles

Member
SheepyGuy said:
The price of rent sucks in a lot of those cities but I don't think you necessarily need to budget 30% of income for rent. It makes sense in a city that's functioning normally, but these places have completely warped economies. The cost of groceries is not linearly related to the cost of rent, the price of iPhones is the same everywhere in the USA, etc. You could increase the % of income you pay for rent and leave most other stuff the same, which is surely what most lower income people living in high rent markets are doing.

That said, I feel pretty smug about my choice to live in a comparatively affordable city with no signs of the property market going insane any time soon.
Click to expand...

The apartments I applied for in North Carolina actually requested pay stubs to verify my paychecks were 3x the monthly rent. Without that crap requirement I could actually get my own place in California right now.
 
Kite

Kite

Member
Necromanti said:
The "30% rule" seems very idealistic.
Click to expand...
*shrug*
I spend a little less than 40%. Anyhow threads like this always amuse me. "Millennials are fucked, we have no chance :(" lol you choose to live and work in those super expensive places. It's like complaining about having to go into debt to buy the latest smartphone or the newest model luxury car, that's on you.
 
S

SolKane

Member
Kite said:
*shrug*
I spend a little less than 40%. Anyhow threads like this always amuse me. "Millennials are fucked, we have no chance :(" lol you choose to live and work in those super expensive places. It's like complaining about having to go into debt to buy the latest smartphone or the newest model luxury car, that's on you.
Click to expand...

You're assuming that anyone in lives in a place (and works in a place) necessarily has the choice to move or live somewhere else, which is not always the case. Also, a place to live is not a luxury item like a smartphone or luxury car.
 
E

Ether_Snake

安安安安安安安安安安安安安安安
I spend 14% on rent, and it's because the rent is cheap not because I'm rich (I'm not :( ). Still find it expensive. Sweet deal though, the place is fine for me, peaceful neighborhood, close to work by foot.

I know I'll have to move out soon, but I play the lotto and will win before then damnit!
 
cheezcake

cheezcake

Member
Kite said:
*shrug*
I spend a little less than 40%. Anyhow threads like this always amuse me. "Millennials are fucked, we have no chance :(" lol you choose to live and work in those super expensive places. It's like complaining about having to go into debt to buy the latest smartphone or the newest model luxury car, that's on you.
Click to expand...

Except the best job opportunities tend to be in these places and as millenials are looking to get careers started its a pretty valid complaint
 
W

Watcher

Member
bLackstar said:
I live in Riverside and this list is pretty much spot on.

Currently paying 1245 for 2bed/2bath.
Click to expand...

I live in anaheim and pay 1335 for a one bedroom. It was one of cheapest places i could find. Not a single orange county city on this list?? Did they lump us into LA?
 
U

unholyrevenger72

Banned
Kite said:
*shrug*
I spend a little less than 40%. Anyhow threads like this always amuse me. "Millennials are fucked, we have no chance :(" lol you choose to live and work in those super expensive places. It's like complaining about having to go into debt to buy the latest smartphone or the newest model luxury car, that's on you.
Click to expand...

Correction, businesses are drawn to each other, these businesses create work, work draws people to a location, people drawn to a location drives up price, the price is driven up to hopefully expand and satisfy the consumer base.
 
N

NYCmetsfan

Banned
Using the 30 percent metric (the rule of thumb that says that no more than 30 percent of income should go toward housing, including utilities and rent, and that any more makes rent unaffordable and burdensome)
Click to expand...
This isn't how people live. and its a very artificial rule and I don't even understand why it exists.

Why 30? Housing is expensive but other goods and services are much cheaper. it feels like it was made when other goods and services were so expensive.
 
DOWN

DOWN

Banned
Kite said:
*shrug*
I spend a little less than 40%. Anyhow threads like this always amuse me. "Millennials are fucked, we have no chance :(" lol you choose to live and work in those super expensive places. It's like complaining about having to go into debt to buy the latest smartphone or the newest model luxury car, that's on you.
Click to expand...
These are the best job markets and they are pricing young people out, which isn't fair honestly.
 
K

kevm3

Member
Kite said:
*shrug*
I spend a little less than 40%. Anyhow threads like this always amuse me. "Millennials are fucked, we have no chance :(" lol you choose to live and work in those super expensive places. It's like complaining about having to go into debt to buy the latest smartphone or the newest model luxury car, that's on you.
Click to expand...

They choose to live in those places because that's where the jobs are. Places with cheaper rents mostly have jobs with a commensurate pay scale.
 
N

NYCmetsfan

Banned
DOWN said:
These are the best job markets and they are pricing young people out, which isn't fair honestly.
Click to expand...

They're pricing out young people who want to live like they do in the suburbs of ohio on the same salary (alone, spending more on entertainment than housing, easy access to job)

I hate these article because you can talk about the affect rising rents have on actual people not pretend yuppies. The problem of affordable housing isn't people moving to the city and wanting a ton of space in a prime location everyone else wants at a super low cost. That's not the housing crisis
 
A

Alucard725

Neo Member
I live in the LA area. I already live about an hour away from work. Anything affordable would increase my commute by an additional hour.
 
N

NYCmetsfan

Banned
kevm3 said:
They choose to live in those places because that's where the jobs are. Places with cheaper rents mostly have jobs with a commensurate pay scale.
Click to expand...

No there the desirable places to live a lot commute out. There are places with cheaper rents but people making 50-60 k want to live a certain lifestyle in hip places.
 
S

Stumpokapow

listen to the mad man
The numbers on this are a little weird, and I think might be affected by what exactly constitutes LA. You can get a two bedroom within what most people would consider the LA Metropolitan area in areas like West Hollywood, Culver City, Koreatown, etc. for $2200-2500 a month, which assuming you follow the 30% guideline is going to be require more like $85k-90k for a family per year. That's without moving your commute out by going to South LA, far East LA, or up into the Valley. Definitely a lot of dough, but a lot more achievable on two white collar jobs than $145k.
 
K

kevm3

Member
That doesn't account for the drastically rising food prices and everything else. Most people are headed towards 3rd world living in the near future and people are actually getting mad at the Mcdonalds workers for demanding $15 an hour in a time when everything is shooting up in prices and corporations are making tons of profits.
 
T

Timedog

good credit (by proxy)
I don't think this is a linear function (it looks linear on cursory glance, correct me if I'm wrong whoooaaaaa i'm so durnk right nao). The poorer you are, the more you need the rent to be a lower percentage of your income just to afford basic needs. Making the equation linear is lazy and I think, unproductive. Not to say that rent isn't a huge fucking problem in a lot of places.
 
D

Dr. Feel Good

Banned
Stumpokapow said:
The numbers on this are a little weird, and I think might be affected by what exactly constitutes LA. You can get a two bedroom within what most people would consider the LA Metropolitan area in areas like West Hollywood, Culver City, Koreatown, etc. for $2200-2500 a month, which assuming you follow the 30% guideline is going to be require more like $85k-90k for a family per year. That's without moving your commute out by going to South LA, far East LA, or up into the Valley. Definitely a lot of dough, but a lot more achievable on two white collar jobs than $145k.
Click to expand...

It's skewed by the coastal areas. Anything West of Hollywood escalated very quickly.
 
X

XMonkey

lacks enthusiasm.
Watcher said:
I live in anaheim and pay 1335 for a one bedroom. It was one of cheapest places i could find. Not a single orange county city on this list?? Did they lump us into LA?
Click to expand...
Seriously.. Pretty confused why they even have Riverside on this list while ignoring places like Irvine.
 
P

PHOTOSHOP

Member
Alucard725 said:
I live in the LA area. I already live about an hour away from work. Anything affordable would increase my commute by an additional hour.
Click to expand...

im planning to LA/Socal soon. Where do you live? i dont mind hour away from work too.

Help from anyone else from Socal or know a lot about the area would be appreciated too.

tt1JMac.png

here is a screen cap i did. Im guessing my "X" spot is the expensive parts? Which city in the "circle" would be good low cost living place?
 
T

TAJ

Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.
Timedog said:
I don't think this is a linear function (it looks linear on cursory glance, correct me if I'm wrong whoooaaaaa i'm so durnk right nao). The poorer you are, the more you need the rent to be a lower percentage of your income just to afford basic needs. Making the equation linear is lazy and I think, unproductive. Not to say that rent isn't a huge fucking problem in a lot of places.
Click to expand...

Definitely. Gas is a great example. Rich and poor people use it about the same amount in places like SoCal. To the poor it can be a significant chunk of their income but to the rich it's couch cushion money.
 
C

cpp_is_king

Member
Makai said:
What are they buying for $3.3k every month? Food and utilities aren't that expensive.
Click to expand...

It doesn't exactly make you rich though. Food, utilities, internet, phone, gas, insurance. add all that shit up and you're probably around $1500 / month. The other $1500 / month, that's like $350 / week. If you're single, that's enough to have an ooookkkk night life and some discretionary income. If you're married with kids, then you got to deal with other shit like childcare, etc.
 
Gun Animal

Gun Animal

Member
I've been seeing 2br on Zillow in the 2k~2.5k range in Santa Monica recently. Also, who only spends 28% of their income on rent? My whole life it's been closer to 50~60% in my family.

edit: then again i live in hawaii sooo....
 
D

Dr. Feel Good

Banned
David_hayter said:
im planning to LA/Socal soon. Where do you live? i dont mind hour away from work too.

Help from anyone else from Socal or know a lot about the area would be appreciated too.

tt1JMac.png

here is a screen cap i did. Im guessing my "X" spot is the expensive parts? Which city in the "circle" would be good low cost living place?
Click to expand...

Where are you working? And what's your budget/salary? The X area isn't impossible to live in. In fact many areas within it are doable but you will make trade offs. In I'm opinion it's not worth living in LA if you're not in the X area.
 
T

travisbickle

Member
Leave it up to the free market. If people don't want to spend 50, 60, 70% of their wage on renting either the prices will come down or wages will go up. That's the way it works.
 
A

AstroNut325

Member
Ironically Supporting Fascism Is Cool Bro said:
It doesn't exactly make you rich though. Food, utilities, internet, phone, gas, insurance. add all that shit up and you're probably around $1500 / month. The other $1500 / month, that's like $350 / week. If you're single, that's enough to have an ooookkkk night life and some discretionary income. If you're married with kids, then you got to deal with other shit like childcare, etc.
Click to expand...

Yup. $145K/year isn't some high class/living it rich salary in Los Angeles. Especially if you need to pay for childcare. Kiss that extra $1,500 goodbye.
 
M

Marty Chinn

Member
Makai said:
What are they buying for $3.3k every month? Food and utilities aren't that expensive.
Click to expand...
I'm paying $3k for two kids in daycare/pre-school every month. It's like paying rent/mortgage again on top of the one I'm paying. I can't wait until they enter public school.
 
A

Alucard725

Neo Member
David_hayter said:
im planning to LA/Socal soon. Where do you live? i dont mind hour away from work too.

Help from anyone else from Socal or know a lot about the area would be appreciated too.

tt1JMac.png

here is a screen cap i did. Im guessing my "X" spot is the expensive parts? Which city in the "circle" would be good low cost living place?
Click to expand...

Riverside, San Bernardino are areas that have houses that are reasonable in price. I live near Whittier and commute an hour to get to Glendale.
 
Z

ZackieChan

Member
David_hayter said:
im planning to LA/Socal soon. Where do you live? i dont mind hour away from work too.

Help from anyone else from Socal or know a lot about the area would be appreciated too.

tt1JMac.png

here is a screen cap i did. Im guessing my "X" spot is the expensive parts? Which city in the "circle" would be good low cost living place?
Click to expand...

That's gonna be one soul-crushing hour each way, bro. Traffic going into LA is no joke
 
A

Alucard725

Neo Member
ZackieChan said:
That's gonna be one soul-crushing hour each way, bro. Traffic going into LA is no joke
Click to expand...

You have no idea. I was consulting in Santa Monica for about 5 month's and it was just terrible. About 1.5 to 2 hours to get to work in the morning. About 2 hours minimum to get back home at night.
 
Status
Not open for further replies.

Similar threads

LA Weekly: You Officially Have to Be Rich to Rent in L.A.
2 3 4
153
16K
NOLA_Gaffer replied
  • Locked
Curbed LA: LA is considering tougher rules regulating rent control evictions
0
910
Tripon replied
  • Locked
LA Weekly: Los Angeles Has a New High Rent Champion (MAP)
2
58
5K
TrAcEr_x90 replied
NFL Chargers players finding tough time to rent in Irvine, CA
2
88
11K
Nista replied
South Florida has affordable housing crisis, shipping containers suggested as housing
2 3 4 5
237
28K
Tripon replied
Top Bottom