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In Bay Area, six-figure salaries are “low income”

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Re: In Bay Area, six-figure salaries are “low income”

#191

Post by [deleted] »

throwthisawayt wrote: post #32
archeantus wrote: post #20

Earlier quoted context omitted.

We moved to Utah where the tech scene is actually quite strong, and the cost of living is significantly less. We bought an 8k sq ft house for the price of many 1,500 sq ft town homes we had been putting offers in on in California. It can be such a rat race down there, it is refreshing to remember that it doesn't have to be that way. Life exists outside of The Valley, and it happens to be a pretty darn good one (and a…

Are you a minority race and if so would you say that Utah is friendly to non-whites ?

[deleted]

Re: In Bay Area, six-figure salaries are “low income”

#192

Post by lordnacho »

ransom1538 wrote: post #46
archeantus wrote: post #6

Wow, this resonates with me. In 2013 my wife and I were living in the Bay Area and had just welcomed our third child into the family. I was making 105k/yr at Apple (which seemed like a ton at the time!) but I felt like I was saving very little of that. I was approached on LinkedIn to take a job with matching pay but that was fully remote. I could live anywhere I wanted in the entire country. I jumped at the chance an…

Did the exact same thing this year. Moved to Oviedo, FL from SF: 1) no state income tax, 2) public schools in my neighborhood are equivalent to a private school in sf [i] 4) weather is great 8 months out of year, 5) beaches you can swim in, 6) rent is ~1/4 of what it was in SF, 7) cuban food, 8) as a resident, kids have year round disney passes [i] http://school-ratings.com/Florida/schools/Carillon_Elementar... WARNI…

8) as a resident, kids have year round disney passes

What? Surely you pay for those?

Also what about the humidity? Every time I've been there it's like a sauna.

Re: In Bay Area, six-figure salaries are “low income”

#193

Post by SoCool »

I have been in bay area for the last 4 years. I moved to bay area for better opportunity. As an Indian, I find bay area more conducive. I moved from deep south (Alabama). Our combined family income is around 350K and with that we were able to afford a very good home in east bay in good school district. I think, the perspective needs to change. If you come to bay area, you are coming here for opportunity in the tech world and it's not going to be easy here. There are many talented people here and to make it here, you have to compete and compete hard.

Re: In Bay Area, six-figure salaries are “low income”

#194

Post by geebee »

lisper wrote: post #34
cbhl wrote: post #12

Earlier quoted context omitted.

Once upon a time, a family of four had the same number of working adults as a family of one.

Once upon a time a family of four would live in a 1200 square foot house and own one car and one television, would rarely travel, rarely go out to eat. That kind of life style can still be sustained even in the Bay area on $100k/yr.

You know, maybe not. Even in the excelsior, a 1200sf ft house that is liveable (not remodeled highly, just liveable) will run you $900k. It can go up from there easily.

It's possible, I suppose... You'd need to be a one income family at 100k, because there's no way you could cover that and child care. But yeah, a stay at home spouse and a working spouse who brought in 100k might be able to make it work south of 280.

EDIT: just realized you said Bay Area, not San Francisco. That changes things.

Re: In Bay Area, six-figure salaries are “low income”

#195

Post by Cyph0n »

JustSomeNobody wrote: post #103
nojvek wrote: post #84

Earlier quoted context omitted.

Very tempted to visit Florida

As a Fl native, it's a great place to live. The political situation sucks, but ya can't have everything. Edit: Some tips for visitors. Most beaches are beautiful and most have free access. Enjoy, but wear sunscreen (and keep reapplying). Oh and bring lots of water; playing at the beach dehydrates you fast. If you pick a Gulf Coast beach (Clearwater is nice), as you enter the water, skoot your feet on the sand. That f…

> Georgia drivers ... can't. I jest. But seriously...

Triggered Atlantan

Re: In Bay Area, six-figure salaries are “low income”

#196

Post by archeantus »

runako wrote: post #164
archeantus wrote: post #62

Earlier quoted context omitted.

I am not a minority race, but Utah is becoming quite diverse. My personal opinion is that it is a welcoming place and is a great place for families to raise their children.

Utah is a lovely place, but this stuck out to me > Utah is becoming quite diverse Was curious about this, as it didn't seem to fit my limited observation from my last few trips to Utah (which is again, a lovely place). The Census bureau government says Utah is >91% "white only": https://www.census.gov/quickfacts/table/PST045216/49 Which is likely more diverse than Utah was in the past, but could not be fairly compare…

That is a fair point. Instead of the word "quite", it might have been better to use the word "more".

Re: In Bay Area, six-figure salaries are “low income”

#197

Post by magic_beans »

nojvek wrote: post #93
ryanSrich wrote: post #39

Earlier quoted context omitted.

Just remember that you'll want to select a city that has a decent economy and tech scene in the event that you lose your job and need to take a location dictated position. So long as you and your partner are both making 6 figures you should be able to afford any of the following cities: - Seattle - Portland - Austin - Denver

I wonder how many couples make six figures. What is the percentage of population with 350k combined income that are not business owners.

I mean, my COMBINED income with my partner is around $160k. This isn't a whole lot of money in a large city, and especially not with children.

Re: In Bay Area, six-figure salaries are “low income”

#198

Post by jqueryin »

harterrt wrote: post #160
Dangeranger wrote: post #110

Earlier quoted context omitted.

Vermont has an amazing community of remote engineers, reasonable housing prices, and some of the best public schools in the country. Come and enjoy the outdoors, food, and amazing beer with us.

Where in Vermont do you recommend? I just went remote in the past year and I plan on roadtripping to VT soon for a week.

Burlington if you want both size and cool vibe (Vermont native here).

Re: In Bay Area, six-figure salaries are “low income”

#199

Post by chrisseaton »

ig1 wrote: post #138
chrisseaton wrote: post #71

Earlier quoted context omitted.

> around £400k which should be comfortably affordable to someone on 70k The mortgage on that will be using up around half of your income. That's insane.

Assuming a 60k deposit (so 340k mortage), you could get a 2 year fixed mortgage at 1.53% so your repayments will be £1,178.31. £70k post-tax is around £48k so £4k/month so the mortgage will take around 30% of your take-home pay which is a fairly standard ratio.

I don't think someone on £70k, paying rent, would be able to build up that kind of deposit.

Re: In Bay Area, six-figure salaries are “low income”

#200

Post by FireBeyond »

ig1 wrote: post #138
chrisseaton wrote: post #71

Earlier quoted context omitted.

> around £400k which should be comfortably affordable to someone on 70k The mortgage on that will be using up around half of your income. That's insane.

Assuming a 60k deposit (so 340k mortage), you could get a 2 year fixed mortgage at 1.53% so your repayments will be £1,178.31. £70k post-tax is around £48k so £4k/month so the mortgage will take around 30% of your take-home pay which is a fairly standard ratio.

Where are you renting near London (so you can work that same job) that you can both pay that AND save 60K?

Considering that looking at similar 3 bedrooms to those suggested for purchase gives rates of around £1350 / month. Even putting aside another 1/3 of your income (high) still leaves you looking at 5+ years to save a deposit.

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