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by chaqke
4147 days ago
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Some easy numbers:
1k/month is ~12k/year, which is ~15-18k of pre-tax salary. To re-emphasize, 1k/month in lower rent is worth 15-18k of salary. I have friends paying more than $2k/month more than me, which is around a negative 40k raise (I live in San Francisco, but share). It's very easy for humans to misinterpret recurring costs. |
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Assuming $2k/month is $40k - that is almost half of $100k. So almost half your salary is going towards just rent.
Let's say you made $50k in a suburb area - using your numbers you would only pay $10k/year for a mortgage ($500/month) - with only $20k difference in salary.
$100k in CA ~ $60k $50k in suburbs ~ $40k
Realistically you would probably make $60-$70k in suburb areas which, according to your numbers, would make the same if not more AND own a house.
Of course this is ignoring other factors like food, utilities, bills and taxes.