How much money do you need to make per year when living with roommates in LA? (Compton: for rent, health insurance)

[Juventas]

I know it's really expensive to live in LA and a lot people have roommates. So how much would someone have to make yearly in order to live comfortably in LA with roommates?

[SandyCo]

It depends where you'd be living and working. If you live out in the Antelope Valley, rents are cheaper but then you'd need a car and your commuting costs would be high. Don't forget car insurance, which can be expensive, too. Then there is discretionary spending; how much do you want to spend on restaurants, etc.?

[patrix542]

it depends on where you live and how many people are you sharing with... Ditching a car will save you a few hundred dollars a month and if you live in places like Koreatown, Hollywood etc it can easily be done.

But generally a private room for rent in decent area will be +$900 a month and places like Santa Monica more than $1500

[Juventas]

Would I be able to make it on $25,000 to $30,000 a year living with roommates?

[patrix542]

$25,000 no way... thats only $1600 a month after tax. Lets say your room is $900 + $250 health insurance + $120 monthly bus pass + $50 phone = $1320 for bare essentials and you need to eat for the whole month which is not cheap. You'd need at least 2k a month after tax when living with roommates.

And thats the cost when you don't have a car... if you intend on driving you need to add at least $300 extra per month and forget about any savings

[Juventas]

$900 for a room? I've seen places on craigslist and else where that were a lot less than that if I could take public transportation to work then I'd do that instead. Well if I make $30,000 a year that's an extra $5,000. I've seen people advertising for roommates on craigslist asking for $500 a month.

Originally Posted by patrix542

$25,000 no way... thats only $1600 a month after tax. Lets say your room is $900 + $250 health insurance + $120 monthly bus pass + $50 phone = $1320 for bare essentials and you need to eat for the whole month which is not cheap. You'd need at least 2k a month after tax when living with roommates.

And thats the cost when you don't have a car... if you intend on driving you need to add at least $300 extra per month and forget about any savings

[patrix542]

Originally Posted by Juventas

$900 for a room? I've seen places on craigslist and else where that were a lot less than that if I could take public transportation to work then I'd do that instead.

Because they were probably shared rooms. I cant imagine sharing my bedroom with a stranger and having no privacy. $900 is a normal price for a private room... Well of course you can find something cheaper but its gonna be in a ****ty dirty area like East LA or Compton

[MrRational]

Originally Posted by Juventas

So how much would someone have to make yearly in order to live comfortably ...

Add up the rent and utilities and any other fees that might apply (call it "housing costs")
That number should NOT EXCEED the weekly take home pay from your 40 hour job.

eg: 40hours @ $25/hr = $1000 x 80% (payroll tax) = $800; less $150 "utilities" = $ 650 for rent
Outside of LA this is enough to BUY a house.

...in LA with roommates?

Even in LA and even with roomies.
Hold the line and you'll be able to save AND afford some travel and new shoes now and then too.

The question is whether you can manage it with ONE roomie
or whether you'll need to share the toilet and shower with five others.

[Mr_Geek]

Depends a lot on your other debts too.

[Juventas]

I'd want to have my own room with a private bathroom I'd imagine that it would be ok to have guests over even living with roommates.

Originally Posted by MrRational

Add up the rent and utilities and any other fees that might apply (call it "housing costs")
That number should NOT EXCEED the weekly take home pay from your 40 hour job.

Even in LA and even with roomies.
Hold the line and you'll be able to save AND afford some travel and new shoes now and then too.

The question is whether you can manage it with ONE roomie
or whether you'll need to share the toilet and shower with five others.