What's average monthly cost for a single living in SF? For simplicity let's assume the person makes 100k a year and hence 8.3k a month. 40% Tax = 3.32k in tax, so 4.98k is remaining per month, assuming 1k amount needs to be sent home every month, he will have 3.98k pm remaining. Will it be enough to live life in decent manner? Can he save at least some amount every month? P.S. Not for me. A relative of mine will be joining a tech company in SF in month of May or June. Unfortunately, I don't live in Bay area.
I've heard tax is really high there. It's probably upper bound.
My bad, https://smartasset.com/taxes/california-tax-calculator#52ve9NYQrD is saying it should be around 32%.
with, or without roommate?
Lmgtfy. One bedroom apartments in San Francisco rent for $3402 a month on average and two bedroom apartment rents average $4494 In San Francisco and nearby San Mateo and Marin Counties it said $117,400 for a family of four was "low income". That said, living on 100k in SF is not recommended. Maybe doable in east bay
Thanks for googling it for me. But he's still single, so wanted to get perspective of someone who is actually living with roommates or someone who knows someone who does. But, thanks for putting the efforts. Appreciate it.
I know someone making 110k. Pays 1300 rent in SOMA ($4000 for 2BR split 3 ways (one guy gets the living room) ). Sends money back home. Saves 0.
Even folks who work for cash in landscaping are able to save some money. But with 100k is is not going to be much. If this is a tech role, he should have no problem doubling that TC in a couple if years.
The tax numbers are all off in this thread. Tax is 30 percent all in for 100k in 2018. Rent is 1500-2200 if they have a roommate. Most tech companies feed you, so subtract about 500 or more a month for food costs. Having a car is not worth it but Uber fees depending on lifestyle will be anywhere from 200-400 a month. Misc fees again heavily dependent on lifestyle. Can add up quickly if dating or going out a lot. TLDR if you don’t have a family (and better yet if single), are willing to live somewhat frugally on the weekends, the cost of living in SF is kind of overblown for what you hear about.
I made 85k a year and lived in the city, with a roommate where my rent was 1.6k per month. You can still max out your 401k, and save 10-15k at the end of the year. Y’all are blowing everything out of proportion, acting like living on 100k is impossible 🙄
Thanks for the info.
Try living in a 3 bedroom apartment. This will save the most money.
1k needs to be sent home? Lmfao fuck that
You are right on tax rate. Federal+ state taxes make it a bulk 40%. Saving much is a dream here..again it depends on the lifestyle. I just recently moved from Seattle and got a major shock looking at the tax rates and rent here
What is your tc? For 100k is is most definitely not 40 percent
Your relative should ask for themselves. It’s going to be tight. Also depends on lifestyle, would need to know more about other expenses.
He's not on Blind. 😶
Oh well