How Much do you Need to Earn to Afford a Modest Apartment in Your State? • Hacker News Board

Re: How Much do you Need to Earn to Afford a Modest Apartment in Your State?

#51

Post by mjcohen » Sun, May 31, 2015, 6:23 AM UTC

For Southern California, and the Los Angeles area in particular, this is a very good blog to read: http://www.doctorhousingbubble.com/

Their current (May 29) entry is titled "Don’t hold your breath for Millennials to purchase homes: 6 years into a recovery and Millennials are still moving into parental homes at record levels."

Re: How Much do you Need to Earn to Afford a Modest Apartment in Your State?

#52

Post by ac29 » Sun, May 31, 2015, 6:33 AM UTC

State wide prices are pretty useless. They claim the highest wage required for a 2bd unit in CA is ~$27/hour. I make about this much, and in the bay area actual 2bd rent prices would be 60-70% of my post tax income, before any utilities/etc.

Re: How Much do you Need to Earn to Afford a Modest Apartment in Your State?

#53

Post by jeremysmyth » Tue, Jun 02, 2015, 1:31 PM UTC

mozumder wrote: post #47

vinceguidry wrote: post #2

Just get a roommate? When did a two-bedroom apartment become a human right? Housing costs are high, undeniably, but the real issue is the shit job market.

You're not going to get a family of 4 into a one-bedroom. This story is about families. Single-people don't even need to pay for their own place. They can live with their parents.

At age 32? What if their parents are on minimum wage too?