$150k in Austin = $??? in SF
I’m trying to figure out how to compare offers. By my calculations, $150k in Austin should be about $210k in SF, just considering rent and tax differences. I assume $1k / mo rent in Austin and $3k in SF. Do these numbers seem right? Any insight is appreciated. TC: $0 at the moment
Don’t do this to yourself. Just f’in pick one
You can't rent shit in Austin for $1000. No where you actually want to be anyway. A decent 1 bedroom anywhere near downtown is 1500 & if you want to be DT, 2500-3k min
Similar can be said for SF too. When comparing COL you have to match the amount of sqft, bedrooms, bathrooms, and quality of neighborhood. Meaning SF is a f.u.c.k. ton more
No doubt its more.
Rent is 1:2 in Austin:Bay area. 9% state tax ...all equates to 180 to 190k in Bay area
Ok thanks that sounds more reasonable
10% more tax -(150+15=165k) 25k rent difference (165+25=190) So 190k?
But you have to adjust upward for the increased federal income tax.. that new 40K is gonna get a rate of 24%... so add on another 10K.
Also you have to earn the 25k rent difference, so you need to add income tax for that as well.
250
Companies adjust by 20% for internal transfers which means you should adjust by 30%
With 150k in Austin you can buy a good new house 3k sqft for 450-600k, it is 3-4 your yearly salaries. Now open Zillow, find house you would accept to live in SF and divide by 4. You will get the equivalent for 150k in Austin.
600k mortgage on 150 income? Yikes
500 is easy. Another 100k he could take from 401k. Anyway in SF the equivalent is going to be about 400k, house price 1.5M and higher with no way to get mortgage
300k
Also consider tax which TX doesn't have any vs high taxes in CA
Yes I factored that in using an online tax calculator. Just curious if my numbers seemed right.
TX might not have a state tax but if you own a home, the property tax are between 2-3%. At the end of the day, you pay out giving more.