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Can you live off 70k a year in California?
At $70k, you can afford to live in slightly more expensive places, like downtown, Santa Monica, Westwood, and so on. The rents are getting above $2,000 per month in those areas. You probably won’t be living in Beverly Hills or Brentwood.
Is 70k a good salary for two people?
Household income includes the total income by everyone over age 15 who is a part of that household, all added together. An income of $70,000 surpasses both the median incomes for individuals and for households. By that standard, $70,000 is a good salary.
Can you buy a house with 70k?
How much should you be spending on a mortgage? According to Brown, you should spend between 28\% to 36\% of your take-home income on your housing payment. If you make $70,000 a year, your monthly take-home pay, including tax deductions, will be approximately $4,328.
How much of a house can I afford if I make 70000?
Is 70000 a year middle class?
Those whose incomes fall in the bottom 20\% are considered poor. Everyone else (the middle 60\%) is middle class. In 2010, the Census Bureau reports that the median income in the United States was $49,445, so if you go a little lower or higher, you get a middle-class range of between about $30,000 and $70,000 a year.
How much house can I afford 70 000 salary?
How much home can I afford if I make 65000 a year?
I make $65,000 a year. How much house can I afford? You can afford a $221,000 house.
Is it affordable to live in San Diego CA?
In San Diego, California going out to eat at a restaurant and buying food is considered to be affordable. Make sure you take this into account as you plan your overall cost of living in San Diego, CA. ( 2021-08-27 salary.com )
What are the cost of living changes when moving to San Diego?
If you move to San Diego from one of these cities, you would have these the changes of your cost of living. If you move from Chicago IL, Dallas, TX, or Miami, FL, the percent increase of your cost of living could be 22.8\%, 37.8\%, and 24.8\%.
How much money do you need to live comfortably in San Antonio?
However, it does seem as though some of the costs have migrated there, as you’ll need to make over $90,000 a year to live comfortably. San Antonio is a relatively affordable place to live, with the income needed to live comfortably while paying a mortgage at just over $70,000 a year.
How much money do you need to live comfortably in your city?
Some cities have median incomes way lower than what you need. There is no one answer to how much money you need to make to live comfortably, but one oft-used rule of thumb in budgeting is the 50/30/20 rule — which calls for half your income to go to necessities, 20\% to savings and investments and 30\% for splurges and fun.