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.
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 $25/hour.
Summary about cost of living in Los Angeles, CA , United States: Family of four estimated monthly costs are 3,833.23$ without rent (using our estimator). A single person estimated monthly costs are 1,058.81$ without rent. Cost of living index in Los Angeles is 17.32% lower than in New York.
Why are California housing costs so high? At its most basic level, it’s a story of supply and demand; lots of people want to live here, and there aren’t enough homes to go around. More than 20% of Californians pay more than half their income for housing.
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.
So basically speaking, 50K gross is NOT nearly enough in less you find 2 or 3 roommates to share ALL expenses. Now if you can live/work in some of the more remote areas of Calif. some desert and forest areas, you can possibly make it on that amount, but you would have NO extras. Calif is a very expensive place to live.
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.
The average salary in California is $63,783 . That is the median salary, which is a more accurate picture of average salaries in California than the mean salary. The mean salary is $91,149 .
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.
An annual salary of $120,000 would sound like a pretty good deal anywhere around the world. But that may not always be the case in Silicon Valley, where soaring rent prices and its brutal cost of living make $120,000 look almost average — even though it’s more than double the US median household income .
It’s a good annual income for an individual, absolutely. It’s even a fairly good household income . Carefully managed, it would over time afford a person an “ average ”( average selling price) home in Los Angeles county, assuming you had the discipline to save a nominal down payment.
Here are the 5 most affordable cities in California: Oxnard . Ventura. Simi Valley. Vacaville . Camarillo .
LOS ANGELES , CA — California home price increases and sales are expected to slow in 2021 , but the Los Angeles-based California Association of Realtors doesn’t forecast widespread price drops .
No, California is not going to fall into the ocean . California is firmly planted on the top of the earth’s crust in a location where it spans two tectonic plates. There is nowhere for California to fall , however, Los Angeles and San Francisco will one day be adjacent to one another!