Do you already have debt? In order to comfortably raise a family in an expensive coastal city like San Francisco or New York, you've got to make at least $300,000 a year. Stop making things up because you didn't take 5 seconds to look. A subreddit dedicated to San José, California, the heart of the Silicon Valley. $40k in the midwest might allow you to live slightly better, but it's fairly close. I lived in San Jose on 52 K, then on 62K, then on 82 K between 1997 and 2007. So the general strategy is to rent a room and scrape by until you are in a relationship. This is definitely contributing to a recent flux of people looking to leave the city. The San Francisco-based restaurant Souvla has runners bring food to the tables but then you are on your own, according to The Times. And with the median home price in the Bay Area around $935,000, a record high, you better be making a lot more than $100,000. I lived in San Jose on 52 K, then on 62K, then on 82 K between 1997 and 2007. We looked at the BLS’s data set for all 472 job classifications in San Jose in order to identify those that get paid the most. So if you get something at the lower end of the range, you are looking at maybe $1,850 or $1,900/month plus some utilities. Sure they're not new luxury buildings, but that's what most of the housing stock in San Jose is. I was able to save, invest, build up an emergency cushion, contribute to my 401K, pay my rent and utilities, pay for healthcare, and manage my car expenses, in spite of having a young child. By using our Services or clicking I agree, you agree to our use of cookies. If not, it's definitely your calling! ? A family would be most at risk financially in San Jose with a $100,000 salary. You might want to consider living with roommates. Then add renters insurance, electricity (my friend lives in an older but nice loft downtown SJ and his bill is like $200-300 and its still freezing in there), water/trash, internet, etc. My first job in the bay was at 70k. I am proof that you can be happy and unstressed on any salary. Once you can split costs, things get a lot easier.). No vacation, no Health insurance, no 401 K. Will they be able to buy a hous Though New York has the reputation for being super expensive (and it is), there is a city across the country that has it beat hands down. It depends on your priorities. You can rent a room in a house for $1,000 or less. Press question mark to learn the rest of the keyboard shortcuts. I think you will be a little below average if you want to live alone. Are you married or single? I hope you are a financial advisor. There are 440 apartments listed with the word "studio" on Craigslist in San Jose. That's doable on $75k. This week The New York Times reported that San Francisco restaurant owners are having trouble keeping up with rent payments so they cannot afford to hire a wait staff which means diners are now serving themselves more. If you are single, debt-free and already have a large savings account, you will be fine. San Francisco has been ranked high on several lists when it comes to most expensive and affordability. The report also found that in San Francisco, Marin and San Mateo an income of $105,350 for a family of four is counted as “low income.”, Clearly, incomes of below $100,000 put you in Fantine from Les Miserables territory in where you have to resort to cutting your hair and pulling your teeth for extra money when you aren’t working as the COO of a tech startup. How far would the commute be? Of course, this isn’t surprising considering that income levels in the Bay Area are the highest in the U.S. and are just going up. Buying or renting? I live in one of the most expensive places in the US (New York City) on considerably less than $100k a year and live comfortably enough. Living in the bay is hard enough. Do you have kids? 75k means about 55k after taxes if you don't contribute to any retirement. It depends on your priorities. Rented a studio and it was fine. If I'm looking to live in a single studio apartment, will I be able to live fairly comfortably with moderation (cook meals at home, takeout once in a while, etc.)? Why? I'm sure you can figure out your monthly expenses and go from there. I moved here in September and the best ive seen for a studio that isn't totally sketchy is like $2000. It all depends. Now its really up to you. It found that $65,800 is considered “very low,” and $39,500 is “extremely low.”. A studio will run $2,000/month give or take depending on the area. Do you have any loans? Some of these are not surprising like San Francisco and New York but San Jose, which bumped Washington D.C. for the top post, is an interesting one. I agree with the above poster- roomie situation is best as studios can be very pricey here. Having a roommate is best. Here are the reasons: 1. A household in San Jose needs to earn more than $204,000 per year to be in the top income quintile, according to a recent study. salaries of $100K and below in the super expensive city of San Francisco. The atrocious costs of living in San Francisco are impacting many different industries. It will be better for you in the long run. Minneapolis is high on the list because of its high-income taxes as well as expensive health insurance rates. $2,600 if you eat at home, drive a $10,000 car that you replace every 6 years and gets good gas mileage, don't travel much, don't need nice clothes for work, etc. Let me tell you a sad story about who households need to earn multiple-six figures to live a middle class lifestyle today. (In the big picture, everything changes when you are talking about two people. There are plenty of 1br for just under $2000. renting a room in a house is around 900-1100, renting a room in an apartment is about 1200 - 1600, renting a 1br apartment heavily varies, cheapest is around 1800 if you live in a old building. Is 110K a good salary for a consultant with Wife and 2 Kids to live in San Jose. To do this the researchers determined the monthly disposable income of a hypothetical family with one child in 100 metro areas by subtracting monthly expenses, savings, debt, and taxes from an $8,333 monthly paycheck which is equivalent to a $100,000 yearly pre-tax salary. Pretty straightforward and easy to do when the government does your job for you my bill for a studio is consistently $50/mo and it's always comfortable without running any heat. I'm not sure where everyone gets the idea that a studio is $2000 minimum. Ignoring the 10 cheapest and 10 most expensive, they range from to $1,250 to $4,200 a month. Last month Ladders wrote about how salaries of $100K and below in the super expensive city of San Francisco will put you in the “low income” bracket in some counties around the Bay Area. Oh and if you have a car and you end up downtown you'll likely have to pay $100+ for a spot per month. The median house price in San Francisco is $1.5M. The Best and Worst Cities to Live on Six Figures and they found a number of cities will make you spend your $100K salary quite fast and furiously on basic things like rent and food. That is $24,000/year. That leaves you with $55,645 in spending income after taxes. Of course, this isn’t surprising considering that income levels in the Bay Area are the highest in the U.S. and are just going up.