Welcome to Portland-- (low income, house, minimum wage)

[58rhodes]

Originally Posted by SyraBrian

Portland will be an interesting experiment. There's obviously money coming in, or the landlords wouldn't be able to hike up their rents.

It will be interesting to see if the rest of the natives find a way to get a hold of some of that incoming money by taking part in the shared economy or developing skills and products that the incoming hordes like. Or will they just go about their business like they always have and merely complain about not being able to afford Portland anymore?

I'm guessing that a small percentage will take advantage, the majority won't take advantage but not complain much, and a small percentage will complain until the cows come home.

I have a friend that is selling his commercial property to buy apartments.

If I was a young person with building trade experience I would be considering a rental maintenance business because the rents at the newer places arent going to have live on site maintenance--to high of rents. There will be plenty of opportunity for turnover and repair. Mngmt companies will pay $$ for the one call does it all.
In something like this a proprietor could make tons of money but Im sure the employees would get no benies and probably make maybe $16 an hr.

[SyraBrian]

Originally Posted by 58rhodes

I have a friend that is selling his commercial property to buy apartments.

If I was a young person with building trade experience I would be considering a rental maintenance business because the rents at the newer places arent going to have live on site maintenance--to high of rents. There will be plenty of opportunity for turnover and repair. Mngmt companies will pay $$ for the one call does it all.
In something like this a proprietor could make tons of money but Im sure the employees would get no benies and probably make maybe $16 an hr.

Nationwide, according to the first site on google, apartment maintenance technicians average $14.48 an hour. A quick search notes that some of of the Portland apartments who are advertising for such workers post starting wages of $16.50 to $17 an hour.

[Mini-apple-less]

Originally Posted by The Big Lebowski Dude

I agree with you! As I said, in the brief time I was in Portland on vacation I realized that it was very expensive (due to the rents, etc.). And, in fact, I was puzzled as to how most could afford to live there.

They struggle and own very little, and don't go out much. That's how.

[urbanlife78]

Originally Posted by Mini-apple-less

They struggle and own very little, and don't go out much. That's how.

That is quite general, people make things work for themselves based on what one considers a priority.

[58rhodes]

Originally Posted by urbanlife78

That is quite general, people make things work for themselves based on what one considers a priority.

man dude lighten up

[58rhodes]

Minne came to Portland with a belief--now maybe hes lazy or something, we dont know --but he came to Portland believing in something.--Why? because of what Portland was--is it really better????

[urbanlife78]

Originally Posted by 58rhodes

man dude lighten up

True, everyone is poor in Portland and just sits indoors doing nothing because they are all so poor.

[VTHokieFan]

Originally Posted by 58rhodes

Make sure you make $90,000 or up

This is pretty accurate. Let's say you're single and make $90,000, that means you make $7,500 per month gross.

$7,500
-$1,310 Federal income
-$465 Social Security
-$110 Medicare
-$575 Oregon income tax

That's around $5,000 after tax income.

$5,000
-$1,200 (avg rent one br)
-$200 utilities
-$300 food

So now we're down to $3,300. I think we can assume that most Portlanders own a car and probably take a loan out on it so we'll round that down to $3,000. If you're smart, you'll at least put around $500 per month in a retirement plan. For $2,500. Of course there's medical insurance premiums so you're down $2,400.
Maybe it's just me, but I go out a lot and $400 isn't a stretch for restaurants, coffee, dates, socializing etc so we're down to $2,000. There's of course other expenses like clothes, saving for trips, basic maintenance, furniture, saving for a rainy day fund.

I would say that $80,000 is the real starting rate to be truly comfortable in Portland if you're single.

[urbanlife78]

Originally Posted by VTHokieFan

This is pretty accurate. Let's say you're single and make $90,000, that means you make $7,500 per month gross.

$7,500
-$1,310 Federal income
-$465 Social Security
-$110 Medicare
-$575 Oregon income tax

That's around $5,000 after tax income.

$5,000
-$1,200 (avg rent one br)
-$200 utilities
-$300 food

So now we're down to $3,300. I think we can assume that most Portlanders own a car and probably take a loan out on it so we'll round that down to $3,000. If you're smart, you'll at least put around $500 per month in a retirement plan. For $2,500. Of course there's medical insurance premiums so you're down $2,400.
Maybe it's just me, but I go out a lot and $400 isn't a stretch for restaurants, coffee, dates, socializing etc so we're down to $2,000. There's of course other expenses like clothes, saving for trips, basic maintenance, furniture, saving for a rainy day fund.

I would say that $80,000 is the real starting rate to be truly comfortable in Portland if you're single.

A single person making that much in Portland is living pretty good.

[VTHokieFan]

Originally Posted by urbanlife78

A single person making that much in Portland is living pretty good.

Correct. That's the amount where you're basically able to save comfortably and absorb most emergencies. You can do well as low as 55,000 which is what I made when I originally moved here, but I had to have a roommate to really make it work "well," at least by my definition of well. But I was 25 at the time, had my own bathroom and became friends w/ the guy I was living with so it worked out decently for me.