Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California > Los Angeles
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-02-2014, 09:06 PM
 
15 posts, read 47,705 times
Reputation: 11

Advertisements

I got an offer for 118k. One of my parents will be moving with me so it will be for two people for sometime. I will be moving from Texas. And that kind of money is a lot for Texas but how is it for LA.
I love the weather of LA and the people seem to be more sociable but Texas is cheaper.
I am sure not everyone makes that much in LA but I just want to know if I will be losing anything, such as not being able to save (planning to buy a house in the long run) after a two bed room rent etc...
Reply With Quote Quick reply to this message

 
Old 01-02-2014, 10:42 PM
 
Location: California
37,135 posts, read 42,214,810 times
Reputation: 35013
Obviously depends on WHERE in LA.
Reply With Quote Quick reply to this message
 
Old 01-02-2014, 10:42 PM
 
6 posts, read 34,627 times
Reputation: 17
Will your mom/dad work as well? Where is your job (traffic in LA is a beast)? What type of community do you want to live and what are your interests? Not trying to pry but these are all questions that will help us guide you.
Reply With Quote Quick reply to this message
 
Old 01-02-2014, 10:46 PM
 
1,496 posts, read 1,855,638 times
Reputation: 1223
Quote:
Originally Posted by mattermatter View Post
I got an offer for 118k. One of my parents will be moving with me so it will be for two people for sometime. I will be moving from Texas. And that kind of money is a lot for Texas but how is it for LA.
I love the weather of LA and the people seem to be more sociable but Texas is cheaper.
I am sure not everyone makes that much in LA but I just want to know if I will be losing anything, such as not being able to save (planning to buy a house in the long run) after a two bed room rent etc...
Yes, very good salary.

That's a lot of money anywhere.Saving money depends on how much you spend.
Reply With Quote Quick reply to this message
 
Old 01-02-2014, 10:58 PM
 
374 posts, read 721,774 times
Reputation: 359
comfortably middle class
Reply With Quote Quick reply to this message
 
Old 01-02-2014, 11:04 PM
 
79 posts, read 144,559 times
Reputation: 32
Depending on what you do, etc 118k is a good salary in LA. You might not be able to buy a house is your dream area any time soon, but if you live in the Valley, Burbank, or even Pasadena, you can probably find a nice 2bdrm apt for under 2000 a month. Income taxes in California are high, but the cost of living for normal daily things (groceries, gas, clothes, going out) is probably not too much higher than equivalent in Dallas or Houston.
Reply With Quote Quick reply to this message
 
Old 01-03-2014, 07:42 AM
 
15 posts, read 47,705 times
Reputation: 11
Quote:
Originally Posted by Lifeisawesome View Post
Will your mom/dad work as well? Where is your job (traffic in LA is a beast)? What type of community do you want to live and what are your interests? Not trying to pry but these are all questions that will help us guide you.
No mom won't be working for a while. Even if she starts working it is going to be a minimum job type work.
Job offer is in Torrance. Prefer to stay within 20 minutes of commute. Currently I pay $1200 for 2 bedroom/2bath apartment with washer dryer built in. It is not a luxury but newer (built within the last 15 years) and very decent apartment in TX. I would like same setting and amenities.
Reply With Quote Quick reply to this message
 
Old 01-03-2014, 08:09 AM
 
925 posts, read 1,333,851 times
Reputation: 616
Apartment/housing prices and relative to what you get is the worst part of living in LA. I lived in a new luxuary apartment in one of the central buisness district in atlanta for around 1000. In LA, you will get a DUMP for 1k. I'm guessing it to be 2000+ for a 30yr old 2 bedroom if you want a trending spot. Also prob no washer/dryer and maybe no dishwasher.
Reply With Quote Quick reply to this message
 
Old 01-03-2014, 10:00 AM
 
Location: Southern California
4,451 posts, read 6,800,191 times
Reputation: 2238
Quote:
Originally Posted by mattermatter View Post
No mom won't be working for a while. Even if she starts working it is going to be a minimum job type work.
Job offer is in Torrance. Prefer to stay within 20 minutes of commute. Currently I pay $1200 for 2 bedroom/2bath apartment with washer dryer built in. It is not a luxury but newer (built within the last 15 years) and very decent apartment in TX. I would like same setting and amenities.
Which part of Torrance will you be working Torrance is large and some parts are far from the freeway.

15 years is relatively new in los angeles, there is not a lot of apartment construction, more condo.

A 2 bedroom apartment in Torrance will be about $1500 and you will be 5 or less minutes from work. If you go north, gardena or east you might save $100-$200 a month. If you go West to Redondo Beach add $50, if you goto Hermosa beach add another $100. Just for comparison a one bedroom apartment across the street from redondo beach is $1800 If you want a two bedroom with a view, $2000. A 2 bed room 1 bath updated house in north torrance is $2000, but you have added utilities. A three bedroom house is $2500-$2800 in the area.

Basically housing cost between $600-$1000 each bedroom.

You don't need to go further than 15 minutes for housing but 20 minutes will get you as far as Marina Del Rey , Mar Vista, and Culver City if you live near the freeway. To the east, Carson, Long Beach and San Pedro would be pushing the 20 minutes with traffic. West Hermosa Beach Redondo Beach.

I know many people that bought 400-600k homes making 100k, it is how you save your money, how much your home appreicates when you sell it, how you invest your money, how much risk you want to take with a mortgage. Since Texas has been so much cheaper to live, you probably have a lot of money saved up, you can probably buy a place immediately but the decision is where.

Last edited by thelopez2; 01-03-2014 at 10:10 AM..
Reply With Quote Quick reply to this message
 
Old 01-03-2014, 10:20 AM
 
Location: Southern California
4,451 posts, read 6,800,191 times
Reputation: 2238
Quote:
Originally Posted by kasuga888 View Post
Apartment/housing prices and relative to what you get is the worst part of living in LA. I lived in a new luxuary apartment in one of the central buisness district in atlanta for around 1000. In LA, you will get a DUMP for 1k. I'm guessing it to be 2000+ for a 30yr old 2 bedroom if you want a trending spot. Also prob no washer/dryer and maybe no dishwasher.
Apartment rents are funny, you pay more depending on how close you want to be to places.

$1900 will get 30 year house house in the suburbs which has been remodel that the owner has lived in for a few years with washer, dryer, dishwasher, they probably bought it for $350-$450k and moved to a larger home 5 miles away.

I rent out a 4 bedroom 2 bath in Mar Vista for $3400 a month, smaller 3 bed rooms commonly go for $2500-$3000, Larger family style homes with a "Family Room" and a living room rent for over $4000.

There are a lot of inadvertent landlord which actually created a nice market place for renters. But as housing prices have rocketed, you are seeing those people sell their rental homes and pay down their new home and get into a conventional lower rate loan.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California > Los Angeles

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top