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Old 11-05-2010, 10:13 AM
 
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Considering a position in Durham that pays 70k. Moving from Chicago, single, only major expense will be rent (1000/month)... Realistically, how far will 70k take me?
I've checked the cost of living comparison sites... But Want to hear from "real" people. Thanks for any info!!!
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Old 11-05-2010, 10:16 AM
 
Location: Up above the world so high!
45,270 posts, read 86,039,386 times
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Quote:
Originally Posted by WindyCitytoNC View Post
Considering a position in Durham that pays 70k. Moving from Chicago, single, only major expense will be rent (1000/month)... Realistically, how far will 70k take me?
I've checked the cost of living comparison sites... But Want to hear from "real" people. Thanks for any info!!!
In my opinion, 70k for a single person with no dependents is DAMN GOOD money Even a family of 4 could live on that if they had to (and many do).

Compared to Chicago I'm betting you're going to find living in Durham much more affordable. Congrats on the job
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Old 11-05-2010, 10:33 AM
 
Location: NW Cary
380 posts, read 833,551 times
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Quote:
Originally Posted by lovesmountains View Post
in my opinion, 70k for a single person with no dependents is damn good money Even a family of 4 could live on that if they had to (and many do).

Compared to chicago i'm betting you're going to find living in durham much more affordable. Congrats on the job

ditto!
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Old 11-05-2010, 10:34 AM
 
Location: Chapel Hill, NC
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I think it's good for a single person and you can certainly find a nice 1bd and even some 2bd for much less than $1000. I think I've seen a few "luxury" places downtown for that cost, but even if you wanted to be downtown you can find places for less that are still nice.
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Old 11-05-2010, 10:38 AM
 
Location: Raleigh, NC
2,535 posts, read 4,497,004 times
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Quote:
Originally Posted by lovesMountains View Post
In my opinion, 70k for a single person with no dependents is DAMN GOOD money Even a family of 4 could live on that if they had to (and many do).

Compared to Chicago I'm betting you're going to find living in Durham much more affordable. Congrats on the job
Agreed. We live on 55k with a family of six. We are definitely tight, but we get by and stay out of debt and manage to save a little bit. With no dependents on our salary we'd be living pretty well, I think. But, our hobbies don't cost alot. Gardening and cooking, playing music and visiting with friends. We don't eat out much (because I'm a better cook ). There are other things we might do if cash wasn't so tight, but really it just depends on how you spend you're money and how often you like to go out and what sort of things you do. But as far as basics: food, clothing, shelter, groceries, utilities, etc. you should have no problem living well on that income.
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Old 11-05-2010, 11:16 AM
 
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We're from Chicago, just went back in October, boy the weather was beautiful! I'd say Chicago and Raleigh are almost identical, so if you're making 70k there and are comfortabe, you will be here too. We did a comparison of Lincoln Park and Downtown-ish Raleigh and they were very similar in price. I work in downtown Durham and it is quite a bit cheeper - realty wise. I feel the cost of living for all other things is about the same too.
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Old 11-05-2010, 11:18 AM
 
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I'd say it's a good salary for a single person. Just make sure you still sit down and make a budget to figure out how much to spend/save any given month.

BTW, I lived on less than 50K a year in DC, which is much more expensive than NC, and did quite well for myself (lived comfortably, enjoyed going out 3 nights a week, and still saved money). Just be smart about it.
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Old 11-05-2010, 11:55 AM
 
Location: Raleigh, NC
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If you find that 70k doesn't meet your needs here, I'll glady take it off your hands!
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Old 11-05-2010, 12:05 PM
 
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Great to read all of these positive responses!!!
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Old 11-05-2010, 12:06 PM
 
Location: Raleigh NC
3,149 posts, read 6,952,321 times
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Quote:
Realistically, how far will 70k take me?
70K will take you as far as you are willing to let it. Live responsibly and you can not only have everything you need but be able to set aside 20% for retirement.
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