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Old 07-30-2007, 11:34 PM
 
6 posts, read 7,403 times
Reputation: 10

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I read just about every day that people are leaving California, Los Angeles more specifically because jobs/cost of living has taken the 'Golden' out of the Golden State. The top destination is Arizona, then other western states.

Can anyone tell me if it is even worth my while to even try a move to Los Angeles as a young, mid-career level professional. I am in my 30's. I love LA and California as a whole but don't even want to bother if I will be priced out soon anyway.

I am a renter and single so that helps, BUT, I have heard too that people with my condition are the type of people that are headed out.

My salary range would be mid 30K to 40K per year. Can someone please enlighten me on this?

 
Old 07-30-2007, 11:36 PM
 
11,715 posts, read 40,324,847 times
Reputation: 7585
Unless you can more than double your salary in LA, forget it. Even then, you'd still be a renter for life unless you hooked up with someone making the same or more.
 
Old 07-30-2007, 11:39 PM
 
Location: Scarsdale, NY
2,787 posts, read 11,471,742 times
Reputation: 802
LA's ridiculously over-priced just like NYC. In a decade, LA's population growth will slow way down. People will be unable to afford to live there.
 
Old 07-31-2007, 12:32 AM
 
Location: City of Angels
1,287 posts, read 5,011,378 times
Reputation: 672
Depends on what you want out of life. $40-$30K a year in LA is pretty poor. If you are not looking to live the glam life, have no ambition, don't mind being potentially a life renter, and don't mind living on a tight budget and having little to no disposable income--then you can live in LA, if it makes you happy just to be here. Many do. But I suspect you want more, and if you don't you eventually will in a place like LA where life for the have and have nots is starkly different. LA is designed and tailor made for people with money. The more you have, the better life will be, at least from a material standpoint.

Now if you are ambitious and have good prospects to be promoted and to earn more money in your field, then LA is just as good as anywhere especially in comparison to other cosmopolitan, expensive cities like NY, SF, Chicago, Boston, etc. Among young, well educated professionals from elite colleges and graduate schools, LA is a top destination.
 
Old 07-31-2007, 01:44 AM
 
636 posts, read 2,636,913 times
Reputation: 256
Quote:
Originally Posted by Tree415 View Post
I read just about every day that people are leaving California, Los Angeles more specifically because jobs/cost of living has taken the 'Golden' out of the Golden State. The top destination is Arizona, then other western states.

Can anyone tell me if it is even worth my while to even try a move to Los Angeles as a young, mid-career level professional. I am in my 30's. I love LA and California as a whole but don't even want to bother if I will be priced out soon anyway.

I am a renter and single so that helps, BUT, I have heard too that people with my condition are the type of people that are headed out.

My salary range would be mid 30K to 40K per year. Can someone please enlighten me on this?
Work out the numbers. Keep in mind that housing will take most of your income. A decent one bedroom apartment will cost $1,100 to $1,300. After taxes, how much does that leave you for transportation, food, entertainment? Keep in mind that car insurance is expensive here. If you aren't weighted down by a lot of bills and student loans you can do it.
 
Old 07-31-2007, 04:42 AM
 
Location: Cincinnati
1,749 posts, read 8,315,454 times
Reputation: 784
You can do fine as long as you rent a cheap place and don't have an expensive car or any addictions. Contrary to what you read in this forum, you can find perfectly livable apartments in nice areas for $1000 a month or less. I know of a small 1 bedroom house currently available in Franklin Hills with a 10 our of 10 elementary school and it's $850 a month. If you decide to move here, ask away. L.A. is what you make it. You can also choose to better yourself and make more money, it's up to you. I lived on 15k or less per year until 1998.
 
Old 07-31-2007, 10:16 AM
 
Location: Scarsdale, NY
2,787 posts, read 11,471,742 times
Reputation: 802
Quote:
Originally Posted by TheRealAngelion View Post
Among young, well educated professionals from elite colleges and graduate schools, LA is a top destination.
That would be New York. LA is 2nd. Read it recently in a NY Times article. Can't seem to find it online though.


Anyway, if you really want to live there, make it happen.
 
Old 07-31-2007, 11:43 AM
 
Location: Sherman Oaks, CA
6,588 posts, read 17,495,661 times
Reputation: 9462
If you don't mind living in either a single apartment the size of a large closet, or living with a roommate forever, then go ahead and move here. I would suggest renting in a rent-controlled apartment, because then your rent increases are capped each year (ranging between 3% and 7% in the City of L.A.). However, if you want to live by yourself in a good area, you really do need to make more money. And depending on how much driving you'll be doing, a reliable car with low mileage is a must.
 
Old 07-31-2007, 02:59 PM
 
116 posts, read 612,427 times
Reputation: 89
To second what others have posted, if you really want to make it happen you can. Also, when looking for housing, it might be worthwhile to check out some of the nicer suburbs that will have slightly lower housing cost. In Pasadena, for instance, there are 26 listing for 1bdrms under $1000 p/m. Granted, they are not as central, but it may be worth it to have the extra money in your pocket. Similar 1bdrm apartments in Silverlake will cost at least $1400 p/m if not more.
 
Old 07-31-2007, 05:44 PM
 
Location: West LA
723 posts, read 2,990,619 times
Reputation: 300
If you have to have the latest fashions, the newest CD's, a cool car, and eat out all the time, 30-40k /yr won't get you very far in Los Angeles, or most of SoCal in general.

If you're frugal, you can have the time of your life on that kind of money, but don't plan out buying real estate.

HTH
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