USA: How Much do you Need to Earn to Afford a Modest Apartment

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kingdragonfly

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#215193 16-Jun-2017 11:17

Here's an interesting report about how much you need to earn to rent a 2 BR apartment in the US.

For example: In California it's about US $31/hour (over NZ $80,000 /year)

In Idaho (hope you love plains and potatoes), it's about $15/hour (about NZ $40,000)

So if you're looking for work, in California, Washington DC, or the North East like New York or Boston, you'd better be getting 6 figures.

http://nlihc.org/oor

frankv

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#1802083 16-Jun-2017 12:03

I was told that in San Francisco is the most expensive city in America, and a 1br apartment costs about $3400 per month. In NYC, it was about $3100. OTOH, driving around I saw lots of apparently abandoned houses out in the countryside.

So generalising about California is probably pretty meaningless.

kingdragonfly

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#1802093 16-Jun-2017 12:36

Personally I've never heard of a cheap apartment within a hour drive of a major city in California.

I knew a guy who commuted from San Francisco to Sacramento usually 6 days a week.

It was the only way he could afford to rent a family house (1 child).

It's a 90 minute drive one-way, when it's not rush hour.

So it means he spent well over 400 hours in his car driving per year.

When he was single, he'd drive one hour one way, but this time between San Francisco and Half Moon Bay.

nathan

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#1802133 16-Jun-2017 14:00

$2500US/mo for a 2 bedroom apartment 15 mins drive from Microsoft HQ in Redmond, Seattle

Wheelbarrow01

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#1802136 16-Jun-2017 14:12

frankv:

I was told that in San Francisco is the most expensive city in America, and a 1br apartment costs about $3400 per month. In NYC, it was about $3100. OTOH, driving around I saw lots of apparently abandoned houses out in the countryside.

So generalising about California is probably pretty meaningless.

Yes I was on a walking tour of San Francisco a couple of weeks ago, and the tour guide pointed out a 1 br apartment in the suburb of North Beach which was going for over US$4000/month. Apparently it's all these young Google, Facebook & LucasFilm workers (tech professionals and the like) who have contributed to pushing the prices up with their high disposable incomes.

That's just what I was told by our guide - herself a resident of North Beach for over 40 years who is lucky enough to have "rent control" on her apartment, otherwise she says she would have been squeezed out by the rent prices years ago...

Sidestep

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#1802195 16-Jun-2017 15:55

There's always an exception if you look hard enough.
Some years back we found a really cheap place for rent – a whole house, IN Silicon Valley - Santa Clara (actually Agnew) - just North of the #101 and right alongside the Great America theme park.

The only catch it seemed, was the old 1940's house – a left over from the time when the whole area was orchards, had sloping floors, paint falling off & a yard overgrown with weeds. And shady looking neighbours in a equally derelict house.
Nice elderly owner lived close by & just wanted someone to love it..We were sure we'd discovered an absolute bargain.

We stayed there one night, woken at 6am by an earthquake. Well actually not an earthquake - it was the first plane taking off from San Jose International after the night curfew ended.
The house was right under the takeoff flightpath. Could actually feel the house shaking.

Went past there recently and both houses have gone, replaced by (obviously soundproofed) condo units.

xor

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#1805036 22-Jun-2017 09:21

kingdragonfly: Personally I've never heard of a cheap apartment within a hour drive of a major city in California.

I knew a guy who commuted from San Francisco to Sacramento usually 6 days a week.

It was the only way he could afford to rent a family house (1 child).

It's a 90 minute drive one-way, when it's not rush hour.

So it means he spent well over 400 hours in his car driving per year.

When he was single, he'd drive one hour one way, but this time between San Francisco and Half Moon Bay.

Sounds a bit like Auckland, anywhere outside of Central Auckland to Central Auckland is an hour by car - more if there's an issue on the road.

dryburn

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#1805041 22-Jun-2017 09:37

xor:

kingdragonfly: Personally I've never heard of a cheap apartment within a hour drive of a major city in California.

I knew a guy who commuted from San Francisco to Sacramento usually 6 days a week.

It was the only way he could afford to rent a family house (1 child).

It's a 90 minute drive one-way, when it's not rush hour.

So it means he spent well over 400 hours in his car driving per year.

When he was single, he'd drive one hour one way, but this time between San Francisco and Half Moon Bay.

Sounds a bit like Auckland, anywhere outside of Central Auckland to Central Auckland is an hour by car - more if there's an issue on the road.

Exactly.

For me it's

80 mins if I drive to swanson and train to the city.

40-60 mins if I drive to city.

Daily.