is it possible to live in nice area and make only 50k a year? (Santa Ana: real estate, affordable apartments)

[mario77]

hi all

well i have been reading previous posts about how is expensive living in OC and 50k a year is not enough to make it!
i currently live in scottsdale AZ,renting apt for 1200 in very nice area and i'm making about $45K a year.

now,im sure the apartment like this in OC would cost maybe 2000$ a month,but even with that cost i still think i will be able to make it!
2000 x 12 months is 24000$ and i will probably make 50.000 a year in OC.

sure gas,food,etc are more expensive in OC but i dont think it will make any big difference! (here i pay electric bill 150-200$ monthly - without AC is impossible to live in arizona).

so my question is why all this people here are saying anything under 50-100.000 is not enough? are there any other costs that i maybe dont know?

[GirlsRUs]

Those people are right. It is very expensive from your perspective.

Might not be happy living paycheck to paycheck and below!

The great weather will not overpower the dog-eat-dog mentality of the OC.

[califantastic]

50K is more than enough to live in a nice area if you don't mind renting.

[eynewman]

You are living much better in Scottsdale than you would in OC with that salary. If I had to live on my salary alone, I would move away from here because apartment life is not for me. Money will be very tight, and renting is just throwing your money away. Lots of people here rent, while blowing their money on very expensive cars. They have it bass-ackward. You want to build up some equity, so you can trade up over time and build a nest egg to retire on. Believe me, you must start this stuff while you're young. I am now in my late 40's and I am grateful to my husband who started investing in real estate here in 1980. But if you're just starting out, it's difficult to make it here unless you already have a lot of money saved.

[EscapeCalifornia]

You're not going to rent a $2000/mo apartment on $50k. Most places require that you make at least 3x the rent. $1388/mo is 1/3rd of $50k/yr. That'll get you a 1 bedroom apartment.

[sparrows]

You could rent (for a single person) and be just fine.

[DanBosCalTex]

I wouldn't move out here unless you plan on NOT having kids. You factor in daycare(600-800 per child) and rent (1200-2000) and there goes all your money.

[BreaOC]

Originally Posted by mario77

hi all

well i have been reading previous posts about how is expensive living in OC and 50k a year is not enough to make it!
i currently live in scottsdale AZ,renting apt for 1200 in very nice area and i'm making about $45K a year.

now,im sure the apartment like this in OC would cost maybe 2000$ a month,but even with that cost i still think i will be able to make it!
2000 x 12 months is 24000$ and i will probably make 50.000 a year in OC.

sure gas,food,etc are more expensive in OC but i dont think it will make any big difference! (here i pay electric bill 150-200$ monthly - without AC is impossible to live in arizona).

so my question is why all this people here are saying anything under 50-100.000 is not enough? are there any other costs that i maybe dont know?

You'll be just fine, but like others have said you'll have to rent. I make a lil less than you do and I do just fine, living in what I think is a very nice area of Anaheim Hills in a 10 year old condo converted into an apartment. Most apartments here require your rent to be no more than 35% of your gross pay. If you are making $50,000 a year /12months = $4167 x 35%= Approx $1450 a month for rent, which is my rent. You can get a lot, just make sure you don't get into the California mentality that you need the best of everything and start getting into extreme debt to achieve it. You don't need to live paycheck to paycheck if you know how to budget appropriately. I don't personally find the cost of food, gas, etc... to be noticeably more here than most other major cities I have visited/lived in, and my electric bill has never been anywhere near what you are paying lol. Good luck and welcome should you decide to make the move!

[OC1017]

Definately. Santa Ana, Garden Grove, and Huntington Beach all have affordable apartments.

[Axiom]

Have you tried running your numbers on some of the cost of living calculators available online?

They certainly are not the last word, and IMO they really need to offer separate comparisons for renters vs. homeowners (most don't) but they can be a useful tool in trying to determine what kind of cost discrepancies you could face.

Google 'cost of living comparison' and you should get plenty to choose from.

FWIW, a couple of quick searches on a salary of $45,000 in Phoenix/Scottsdale indicated that if you wanted to maintain the same lifestyle in Orange County, you would need a salary of:

$65,000
$68,000
$70,000

Obviously there's some disagreement as to how much more $$$ you would need, but no disagreement about the fact that you would need substantially more $$$ in OC.

Good Luck with your decision.