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Is $140k enough in San Francisco?
My partner and I are considering a move for a job opportunity, but the cost of living is scaring us. We'd both be making around $70k each, so $140k combined. Is that enough to live comfortably, rent a decent apartment (not looking for luxury, just safe and reasonably sized), and still save a bit? We don't have kids and aren't planning on buying a house anytime soon. Assume we're pretty frugal and don't need a fancy lifestyle.
2 Answers
7
33d ago
That income is tight, but doable if you're truly frugal. Expect a significant portion to go towards rent – even a modest apartment will likely cost $3500+. Factor in utilities, groceries (which are expensive), transportation (BART or Muni passes aren't cheap), and then taxes (California has high income taxes). Saving will be challenging, and 'comfortable' is relative. It's more surviving than thriving. Consider looking at neighborhoods outside the city center for slightly better rent prices, like the Sunset or Richmond districts.
4
31d ago
It's tight, but doable if you're truly frugal. After taxes, you're probably looking at around $8,000 a month. Rent for a decent one-bedroom will easily eat up $3,000-$4,000. Factor in utilities, transportation (even with public transit), groceries, and some entertainment, and you'll need to be very disciplined to save a substantial amount each month. Look into roommate situations or consider living in slightly less trendy neighborhoods to bring down rent.