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Old 03-11-2019, 07:18 PM
 
34 posts, read 31,600 times
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Hi everyone,

Would you guys advise if someone living in south Houston (pearland area) making around 54k a year plus a paid off home could live comfortably with a family??

Thank you.
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Old 03-12-2019, 07:25 AM
 
Location: Denver, CO
2,858 posts, read 2,174,162 times
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Quote:
Originally Posted by gduron View Post
Hi everyone,

Would you guys advise if someone living in south Houston (pearland area) making around 54k a year plus a paid off home could live comfortably with a family??

Thank you.
If it's just the couple, then possibly. If it's a family of four then no.
Everyone's different and I personally wouldn't be comfortable living on that income by myself, but I really doubt a family of four or above can sustain a middle class lifestyle without some kind of aid at that income level.
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Old 03-12-2019, 09:01 AM
 
Location: Hougary, Texberta
9,019 posts, read 14,293,297 times
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Don't forget on that paid off home, there's still likely 2-3% monthly property taxes.
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Old 03-12-2019, 10:03 AM
 
Location: Cinco Dinero
967 posts, read 2,610,628 times
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For the sake of easy math I’m going to assume that a house note (principal and interest only) to be $1500/ mo. That’s $1800/yr. that means you salary is like $72k. Doable but not extravagant, for a family. Stay in the Pearland area.
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Old 03-13-2019, 08:32 AM
 
Location: Houston
5,615 posts, read 4,943,769 times
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Quote:
Originally Posted by mikeyyc View Post
Don't forget on that paid off home, there's still likely 2-3% monthly property taxes.
It's annual, not monthly - though it would make sense to budget it monthly.
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Old 03-13-2019, 08:59 AM
 
Location: Hougary, Texberta
9,019 posts, read 14,293,297 times
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Quote:
Originally Posted by LocalPlanner View Post
It's annual, not monthly - though it would make sense to budget it monthly.
I know. I just worded it poorly.
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Old 03-13-2019, 09:28 AM
 
23,980 posts, read 15,086,618 times
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How old are the kids?

A family member has 2 big kids. Cars and college are expensive, even with full ride scholarships. My relative is on a very tight budget with a paid off years ago house and 150K a year.
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Old 03-13-2019, 05:16 PM
 
158 posts, read 181,810 times
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Comfortable is a relative term, but yes, could be done, especially with paid off home. Wouldn't be a bad idea to look for a way to raise income though.
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Old 03-13-2019, 07:40 PM
 
702 posts, read 1,237,010 times
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Very feasible.
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Old 03-13-2019, 07:46 PM
 
Location: Tricity, PL
61,729 posts, read 87,147,355 times
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Quote:
Originally Posted by huma281 View Post
Very feasible.
Yes. It's all about budget and things wanted but not needed. Be humble and you will be fine.
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