How Much Money Do You Make a Year? (Pittsburgh, Washington: rental, refinance)

[TechCom]

They say you don't need much money to live around our neck of the woods.
Do you think this is true?

I make 30k and I feel I would need 60k to live a middle class life here.
I think around 35k is ok for a single person with income based student loans...

[jea6321]

30k can make it here. 50k is starting to live ok. 60+ is comfortable for most people in pittsburgh. But as always, this is very subjective.

[gg]

Debt is the biggest factor. You don't have to make that much if you have no debt service. If you are carrying a pile of debt, then you need to make a lot more. No one will discuss their personal income. Why would they? You can live on much less than $30K a year if you live wisely and in places like Etna or Sharpsburg and are debt free.

[Pitt Chick]

Originally Posted by TechCom

I make 30k and I feel I would need 60k to live a middle class life here.

And when you do make 60k, you will probably say that is not enough either.

[lprmesia]

I started out here making $20K in 2006. The biggest thing I found was sharing expenses. I ended up buying a cheap house (only paid $35K for a fixer-upper in Mt. Washington - worth over $100K at this point) and rented out the other bedrooms. I essentially live rent and utility free by doing so and only owe a little bit on my house. Pittsburgh is one of those markets where the cost of buying a home is still much lower than rental costs.

It can be pretty expensive to live solo in Pittsburgh. I've found many advantages to living with people if you do it right. Safety, financial security, reduced expenses, etc... It's all about proper due diligence to find the right tenants and eliminating potential obstacles (I include utilities in the rent as a flat rate, as well as some non-ordinary things such as toilet paper, paper towels, and garbage bags because it's a pain if you run out when it's someone else's "'turn" to get them). It can be very comfortable.

Another thing about Pittsburgh is upward mobility. I'm 31 with only a high school diploma and I earn close to $70K at this point. Still in the same Mt. Washington house about 2 blocks from Grandview and I have no plans to leave. Happily married and the elementary school in my district is one of the highest rated in the city. The concept of the American Dream is alive and well in Pittsburgh if you know where to look.

[doo dah]

Nebby-nose!

I make enough to support myself and my husband while he finishes his book; own our home; live in the manner to which we are accustomed.

Had I been the one to immigrate, I would have had to get a job as well to have the same lifestyle.

Oh, yeah, living in the oh-so-super-expensive East End.

[fleetiebelle]

I'm lucky to not have student loan or other debt (well, besides a mortgage,) so I've been able to live comfortably in Pittsburgh on a modest salary.

[SteelCityRising]

I generally earn around $36,000 gross annually (less when adjusted for mileage, as I drive my own vehicle for my job). My partner earns around $25,000 gross annually. That's roughly $61,000 gross combined---closer to $45,000 net combined. We split a 1-BR rental in the East End for $350/month each. If not for my student loans and obscene car payment (symptomatic of having a low credit score when I bought my vehicle) I'd be living comfortably here. We do feel like we struggle quite a bit, but in early-2018 my car and student loans will both be paid off, freeing up $700/month in my budget that I can put towards saving for a home.

Pittsburgh's not as cheap as it once was, but it's still not "expensive" overall. We're solidly middle-of-the-road on a national level in terms of cost-of-living---MUCH cheaper than the coasts yet a notch higher than most of the rest of so-called "flyover country".

[gortonator]

Originally Posted by doo dah

Nebby-nose!

I make enough to support myself and my husband while he finishes his book; own our home; live in the manner to which we are accustomed.

Had I been the one to immigrate, I would have had to get a job as well to have the same lifestyle.

Oh, yeah, living in the oh-so-super-expensive East End.

Crap - I'm writing a book and working!!! I need to talk to my wife. I'm getting a bad deal

[robrobrob]

Originally Posted by SteelCityRising

I generally earn around $36,000 gross annually (less when adjusted for mileage, as I drive my own vehicle for my job). My partner earns around $25,000 gross annually. That's roughly $61,000 gross combined---closer to $45,000 net combined. We split a 1-BR rental in the East End for $350/month each. If not for my student loans and obscene car payment (symptomatic of having a low credit score when I bought my vehicle) I'd be living comfortably here. We do feel like we struggle quite a bit, but in early-2018 my can and student loans will both be paid off, freeing up $700/month in my budget that I can put towards saving for a home.

Pittsburgh's not as cheap as it once was, but it's still not "expensive" overall. We're solidly middle-of-the-road on a national level in terms of cost-of-living---MUCH cheaper than the coasts yet a notch higher than most of the rest of so-called "flyover country".

Try to refi the car loan if you can. If your rate is really that bad you should be able to reduce it since you have "repaired" your credit to a certain extent.

I am constantly getting offers to refinance our car. Our issue is that we bought a used car and it is now too old to be eligible for the "better" rates offered.

I also try and refinance our Home Equity Loan whenever a teaser rate pops up.