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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYou need to make $80,273 per year to live comfortably in D.C., report says
Washington Post:The good news: Its still not as tough to make ends meet in D.C. as in San Francisco, New York or San Jose, according to a new study. However, you will still need to earn $80,273 per year to live comfortably in our nations capital.
GoBankingRates, the financial website that conducted the study, scrutinized the cost of living in the United Statess 50 most-populous cities and came up with the $80K figure and a working definition of comfortable.
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Those seeking cheaper digs may consider a move to Virginia Beach. GoBankingRates said that city, whose residents have $13,985 surplus income, tops the list of places where people can easily afford to live comfortably.
On the other hand, youd need to earn $110,357 annually to be comfortable in San Francisco, the report said.
Lanius
(599 posts)is going to be mostly low-wage service jobs.
elleng
(130,995 posts)and have to commute from Virginia Beach, MERELY 3 h 36 min (208.8 mi) via I-64 W and I-95 N!!!
geek tragedy
(68,868 posts)Cities like SF and NYC are really unworkable for single people living by themselves. However, if a couple share an apartment, or if one has roommates, it gets a lot more reasonable.
dsc
(52,164 posts)10 years to earn that if s/he has a PhD, 11 if s/he has a masters, 16 with a bachelors.
haele
(12,660 posts)That sort of income in San Diego means that if only one parent works and brings that home, the average healthy family of three or four can have:
a 800 - 1200 sq. ft. residence (mortgaged or rented) that is up to code and in good repair,
a full pantry and refrigerator/freezer,
one paid for vehicle and one vehicle that's "being paid for", along with the insurance for both vehicles,
homeowner's insurance,
regular utilities (including cable)paid and a family cell phone plan
health care costs covered,
student loans covered if they're due, and maybe,
just maybe, 2% - 5% of the breadwinners monthly income split between a 401K for retirement and a savings account for set-asides and emergencies (including vehicle repairs and maintenance, big ticket item replacement, annual payments like registration, taxes, or licensing fees).
That's comfortable living in my book. No frills, no Daycare costs, just covering the comfort basics of living and working in a modern city.
There may be money left over for one movie a month or so, or a Netflix account, or a nice dinner for birthdays or other special occasions, but still not enough not for regular eat out - even fast food - or shopping splurges, or high priced toys. No Cruise or Package vacations. No big Holiday splurging with gifts. No Daycare, or Private School/private lessons. The kids are not getting designer clothes or the latest tech gear...nor are they getting a membership to the YMCA, because that's f'n expensive if you don't qualify for the low income subsides.
And if someone in the family has a problem that requires lots of doctor's visits, therapy, or medication, - or if there's a new baby on the way - you have to start thinking about what you're going to cut out of the budget above - like getting rid of one of the cars, making the stay at home spouse get another income, and/or stopping your savings set-asides until the budget stabilizes and you and your family get used to being a little less comfortable.
Haele.
BigDemVoter
(4,152 posts)I live in San Francisco which is expensive, but I understand housing is almost as high in DC.
I just read the entire thing and see that $110,357 would be needed to "live comfortably" in SF. . . I don't think $110,000 annually would suffice at this point in San Francisco, as the AVERAGE 1-bedroom apartment goes for $3500/month nowadays. . . . That doesn't account for other inflated prices, as businesses have to pay more in rent as well and pass much of that cost along to consumers.
TheBlackAdder
(28,209 posts).
Yet, New Jersey is the primary state who bails out the socialist-loving Red States.
Diverting much needed social resources to other parts of the country.
.