1-income family (Portland: rent, condo, home equity)

[girlieNfamily]

Hello,
We are looking to move to the Portland area, and I'm wondering if it is possible to live there as a 1-income family. We have a small toddler, and my husband is an RN as am I. We are from the Bay area, and right now we both work but are considering me staying at home (or possibly working part-time) with our child when we move to Portland. We'd like to keep our home purchase to $350K and under.


Thank you.

[Nell Plotts]

A one income family is not uncommon but the wage earner needs to be well paid.

[VelouriaPDX]

We are a one income family; I stay home with our kids. It just depends on your husband's income and what your lifestyle expectations are. If he makes six figures, you should be fine. Less might be OK but it depends on your other expenses.

$350k for a house does not go very far in areas with good schools. You could get a very nice condo for that and good schools; or a single family home in some outer neighborhoods with mediocre or worse schools.

[gray horse]

I would highly recommend you work part time, otherwise you may be unemployable for years. Better to have something to fall back on in case your husband loses his job. Portland is cheaper than the Bay Area, but not so cheap that you can retire.

[Nell Plotts]

I agree that it is wise to keep your licensure and professional skills current.

Hard to know who your husband is working for at the moment but Kaiser is a large health care provider both in the Bay Area and Portland Metro. Transferring within a system is often easier.

The problem I see is finding a full time RN position. Many that I have met work part time.

[Yankeemama]

Your family should be fine and there are neighborhoods out in the burbs where you can rent or buy in a good school feed.

[Nell Plotts]

I presume you know the major health care providers in the metro area, apply once you have an Oregon licence.

[bler144]

Agree with the others. Work part-time if you can just for your own long-term security.

In terms of whether it's possible (or desirable) to live here on one income, it really depends on lifestyle and the amount of that income. And how much home equity/savings you're bringing with you from the bay.

If spouse makes $50k it's going to be a strain even if you don't eat 100% organic and only shop at boutiques. If spouse makes $100k and you don't have particularly expensive tastes then you should be able to make it work.

[Hockeygirl063]

We are a single income family and can manage fine. My husband makes a decent amount of money it is under $100,000

[Eascoaswing]

I really like the Portland area too. We've been looking for a short while. I don't plan on working full time anymore but a job making 15-20k part-time would be a nice benefit if I can find something. The important thing is finding HIM a job since he's the one with all the education. He has an M.S. in Occupational Safety Management, a B.S. in Aeronautics and 22 years of service so he's definitely the one with hiring potential. We like the area because it's not military and it's not like everywhere else we've lived.

girlieNfamily, do you have family or friends in the area if you do wind up working and need help with your child? Mine are older but if they were small I'd be worried about moving to a town where I didn't know anyone that I could trust with my kids.