Are young people leaving Los Angeles? (Pasadena: real estate, apartments, renter)

[Tree415]

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?

[EscapeCalifornia]

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.

[Futcha]

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.

[TheRealAngelion]

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.

[LALady]

Originally Posted by Tree415

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.

[Sorcerer68]

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.

[Futcha]

Originally Posted by TheRealAngelion

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.

[SandyCo]

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.

[lucero32]

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.

[JackSparrow]

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