Question: What Salary Do You Need To Live 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..

What is a livable salary in Los Angeles?

Living Wage Calculation for Los Angeles County, California1 ADULT2 ADULTS (BOTH WORKING)0 Children3 ChildrenLiving Wage$14.83$24.98Poverty Wage$6.00$7.25Minimum Wage$12.00$12.00

What salary do you need to live in California?

A single person in California needs to earn, on average, about $12.30/hour working full time to cover basic living expenses. Add a kid to the mix, and that rate rises sharply to more than $25/hour. That’s according to the Living Wage Calculator created by Amy K.

How much money should I have before moving to LA?

To summarize, if you’re moving to Los Angeles, here are your benchmark savings goals: If you see yourself as conservative with money, or you’re risk-averse, minimum savings: $10,000. If you’ve traveled before and are used to living out of your comfort zone, minimum savings: $5,000.

Why is LA so expensive?

The topography of Los Angeles makes it costly to build a house than in other places. Also, there is the ocean, and it’s impossible to expand into the ocean. Limited land and other multiple demands raise land prices. … The labor cost is more expensive in L.A. than in other cities in California and the country at large.

Is 80k a good salary in Los Angeles?

I live in Los Angeles and I lived in Orange County, and to be honest, Southern California is just a very expensive place to live. But 80k should be going a decent way if you don’t have an over-spending uber eats, dine out, fancy clothes, new phone, new car every year attitude.

Can you live in California on 100k a year?

But a new report shows that a yearly $100,000 income goes a lot further in some cities than others. … Eight of the cities are in California, and it likely comes as no shock to those who live in the Golden State that $100,000 doesn’t go too far.

Is LA more expensive than New York?

Conclusion: Overall, LA Wins 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.

Is 100k a good salary in LA?

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 LA on 40000 a year?

A 40k salary won’t get you very far in a pricey city like LA. Buying a house is probably out of the question, unless you want some house in really bad condition that you are willing to put a lot of time into renovating. Probably you would be better off renting a studio or 1 bedroom.

Is 80k a good salary in California?

80K for a single person is more than Decent. If you want your money to go further move to the eastbay. I”m assuming after taxes your take home pay is around 5000 per month. You can do just about anything you want with that money since you have no kids etc.

Can you live in LA on minimum wage?

Originally Answered: Can you live in Los Angeles on minimum wage? Only if you are living with several other people such as relatives. You cannot live by yourself on minimum wage unless you are homeless.

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 I move to LA with no money?

Sure, living in LA (heck, even just visiting LA) can be pricey. But sometimes the best things in life really are free–or close to it. If you’ll be moving to Los Angeles with no money, don’t panic. You don’t have to spend a ton to have a good time in the City of Angels, and here’s the proof.

Can I move to LA?

People move to Los Angeles for a variety of reasons: a job, the movies, the surf. While it is possible to move without a job, it makes sense to ensure there are jobs in your field before you make the move.