Zoe
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Renting and owning don't have a 1:1 relationship.
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Curbed L.A.: You Have to Make $145k a Year to Afford Rent on a Two-Bedroom in LA
- Thread starter Tripon
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Renting and owning don't have a 1:1 relationship.
Obviously, but here are 2+ bedroom apartment results capped at 2.2k a month on the west side (i.e. the most expensive part of town)
There are a ton of options. It is expensive to live here for sure, but it is an absolute fallacy that you need to make 145k a year to afford a place to rent.
teruterubozu
Member
So 15 to 20 out of thousands and thousands of apartments on the West side? lol. Great odds. I bet none of them have parking too.
LA Native here. And I'd read the piece, but I don't want to give that bullshit article the click. There are many areas in the LA area where you can secure a 2 bedroom apartment between 1.5K - 2K a month, and that's something pretty nice.
Before I bought my home 4 years ago, we lived in Culver City where my wife and I paid 1800 a month for a 2 bedroom luxury apartment that had all utilities paid for, assigned parking, and 24/7 on site security.
Before I bought my home 4 years ago, we lived in Culver City where my wife and I paid 1800 a month for a 2 bedroom luxury apartment that had all utilities paid for, assigned parking, and 24/7 on site security.
Zoe
Member
This article is specifically talking about cities, not the metro areas.
And when you're talking about a 17% increase in just one year, I don't think looking back 4 years would be very helpful.
LyleLanley
Banned
Obviously, but here are 2+ bedroom apartment results capped at 2.2k a month on the west side (i.e. the most expensive part of town)
There are a ton of options. It is expensive to live here for sure, but it is an absolute fallacy that you need to make 145k a year to afford a place to rent.
The article is talking about the average price of apartments. I don't see how a listing of 38 apartments under 2.2k makes a difference.
Because the mean value isn't necessarily indicative of average conditions when the data set is right skewed. Overpriced rentals for a small category of people can throw off the "average" and therefore the conclusions based on the mean value may be flawed. In such a case the median or mode are better values.
Taxes my man. $145,629 after taxes = roughly 100K. Now take off apt costs and you got 60K to live off. But that does not include living expense, SL, savings/retirement etc.
CosmicQueso
Member
Anyone who says rent prices in LA aren't significantly higher than 4 years ago is just not paying attention.
QuantumZebra
Member
I think traffic is the wrong word for having a car in downtown Atlanta.
I think of it more as a large parking lot that slowly shifts around the city.
LOL.
That was with a 3 second search, not putting any effort into it and artificially capping myself way way below the cost the article cites.
CosmicQueso
Member
It's an average. Some will be higher, some will be lower.
Himynameischris
Member
I go from Chatsworth to Van Nuys and it's 45 min :/
GustyGardens
Banned
I haven't checked prices recently, but I rented a loft in Koreatown years ago and that was pretty overpriced. I paid close to 1800 for that. I'm so glad I moved out of the city. I did the commute from Pasadena to LA for awhile, and it wasn't too bad, but I don't mind being stuck in traffic all that much.
perfectchaos007
Member
You can buy a decent starter home in Texas for that money. My sister is building a new house for $160K
Dr. Feel Good
Banned
You know things do change after four years.
Liu Kang Baking A Pie
Member
"4 years ago" LOL
Four years ago I was renting for 50% less in a better place. You're not keeping up with the ridiculous rent increases in our big cities. Portland's streets are lined with people living in tents with nice bikes parked outside, because they were formerly able to afford housing and nice things.
The Albatross
Member
With Boston that's misleading. Boston is a small geographic city with a large metropolitan area that has very affordable rent and housing prices. I bought further away from the city and commute in, but I have many friends who rent on less than $50k, nice apartments in the surrounding towns... Cambridge, Somerville, JP, South Boston, etc. Rents are higher now than they were 10years ago but those towns are a 10minute train ride or less to work for those people at reasonable prices
Gully State
Member
Obviously, but here are 2+ bedroom apartment results capped at 2.2k a month on the west side (i.e. the most expensive part of town)
There are a ton of options. It is expensive to live here for sure, but it is an absolute fallacy that you need to make 145k a year to afford a place to rent.
I lived in Palms area....It's absurd the rent you pay for the quality of housing. Our place was a 1960's dump that had water pressure issues and super thin walls. We didn't get hot or cold waters for showers when the family downstairs was showering. That and LA has this weird thing where a lot of apartments don't include refrigerators.
4 years ago I was paying $1200 a month for a 1 bedroom...Rent prices have increased pretty significantly these last few years.
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.
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?
I wouldn't want to live outside the x. Keep in mind that if you live close to work, it's an hour commute.
Also note, a hour commute might mean 15 miles in jam packed traffic.
Imma vouch for this. I don't make $145k, but that $40k in taxes (fucking state and federal) is definitely right. I'm lucky in that I pay about 30% of my monthly net pay on rent, but it's just me. Throw a couple of kids in there and I'd be fucked unless my spouse made at least $50k annually to offset it some.
The same article claims that you only need 37K to live in Detroit which includes the tax and rent. Once you remove rent and tax, that's going to be < 20K for other expenses. Now some non-housing living expenses are going to be more pricy in LA, but not 3X as much, and savings/retirement is going to be equal.
Marty Chinn
Member
Savings/retirement isn't going to be equal though. If the cost of living is higher in one area compared to another, then you're going to need more savings/retirement.
East San Gabriel Valley ain't that bad. May be boring to some but at least your not that far from everything.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.
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?
Try not to do anything further than the 57 though. (Though I do like Claremont), the drive is not worth it.
I drive from Glendale to Irvine everyday and spend an easy 3 hours in the car each day. Don't do that to yourself.
Moving to Costa Mesa next week. The drive defeated me ;(
hurricanes
Member
It is said that nobody works in D.C. lives in D.C., VA is much cheaper and newer, though the slogged subway may make the commute unbearable for many.
HylianScribe
Member
I lived in LA from 2008-2014, just moved back. Before that, I lived in OC from 2005 until early 2008.
I worked in Irvine from 2005-2008, and I started by living in Rancho Santa Margarita paying 1200+ for a 1 bedroom in 2006. After a year, it went up too much because they used this concession thing that's really a trap. I got like first month rent free, but it was spaced out over the cost of the lease, so renewal time it jumped up a lot, to around 1400. Couldn't afford that since I barely was affording rent as is, moved to Laguna Niguel on the other side of the I-5 for a 1 bedroom same price for a year lease. Same thing happened at end of lease, they wanted to raise price too much, so ended up moving to Tustin into a Studio for 1000 a month. That was about the right price for what I could realistically afford, but was still a bit too much.
Got a job in LA, no way I was commuting from that far into OC to Santa Monica. Let my parents help me out, they found a place in Woodland Hills all the way down the 101. Was a bit too pricey, too, at the time, fluctuated in the 2.5 years I lived there from 1300-1450 a month (did 3 lease terms). Had a panic attack at that point around end of 2010 that 4+ years of living in SoCal had put me into debt because so much of my paycheck went towards rent. Luckily found a 3 bedroom apartment in Valencia where two of my friends lived, and it was one of those moderate income places. Very nice though, and it was 1700 a month for it, split almost evenly. So my monthly rent was like 600 with utilities from Dec 2010 until I moved in Dec 2014. I not only was out of debt within a year, but by the time I left, I had a lot of money saved up.
Now that I'm back, have 30 days to find a place to live, and like, I can not find anything worth a damn cheaper than 1450 anywhere. Anything less is like a studio with no parking and barely any amenities. Realistically have to settle for 1500-1600+ range at best. And this is like, everywhere - all the way up in Valencia, anywhere decent in the SFV, and a few select places in West Side (south towards LAX area mostly), and even down in OC. Pretty much the only way to afford living out here if you don't make like, 60K+ a year or more, is get a roommate (or two).
I worked in Irvine from 2005-2008, and I started by living in Rancho Santa Margarita paying 1200+ for a 1 bedroom in 2006. After a year, it went up too much because they used this concession thing that's really a trap. I got like first month rent free, but it was spaced out over the cost of the lease, so renewal time it jumped up a lot, to around 1400. Couldn't afford that since I barely was affording rent as is, moved to Laguna Niguel on the other side of the I-5 for a 1 bedroom same price for a year lease. Same thing happened at end of lease, they wanted to raise price too much, so ended up moving to Tustin into a Studio for 1000 a month. That was about the right price for what I could realistically afford, but was still a bit too much.
Got a job in LA, no way I was commuting from that far into OC to Santa Monica. Let my parents help me out, they found a place in Woodland Hills all the way down the 101. Was a bit too pricey, too, at the time, fluctuated in the 2.5 years I lived there from 1300-1450 a month (did 3 lease terms). Had a panic attack at that point around end of 2010 that 4+ years of living in SoCal had put me into debt because so much of my paycheck went towards rent. Luckily found a 3 bedroom apartment in Valencia where two of my friends lived, and it was one of those moderate income places. Very nice though, and it was 1700 a month for it, split almost evenly. So my monthly rent was like 600 with utilities from Dec 2010 until I moved in Dec 2014. I not only was out of debt within a year, but by the time I left, I had a lot of money saved up.
Now that I'm back, have 30 days to find a place to live, and like, I can not find anything worth a damn cheaper than 1450 anywhere. Anything less is like a studio with no parking and barely any amenities. Realistically have to settle for 1500-1600+ range at best. And this is like, everywhere - all the way up in Valencia, anywhere decent in the SFV, and a few select places in West Side (south towards LAX area mostly), and even down in OC. Pretty much the only way to afford living out here if you don't make like, 60K+ a year or more, is get a roommate (or two).
You were a ticking time bomb anyway.
Yeah I got nothing for that. I have no idea how they came up with those figures. My only guess is that the individual in Detroit would not have to pay the same massive student loans as someone making 6 figures in LA. Also, with respect to living expenses, for example something as simple as lunch can cost 1.5x-3x as much in NYC as it does in North Jersey/CT. Generally living in a major city is more expensive.
Costa Mesa only a little bit closer. Should have moved to Anaheim or Garden Grove. Would have been cheaper too.
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