Moving to SF, I am really wondering how do people afford their apartments (San Jose: rentals, car insurance)

[redwoodlvr]

Originally Posted by Mitoman

I am moving to SF soon, and I make close to 6 figures. When I start searching for apartment, it really surprise me how little I am getting for close to $2,000/month.

Originally Posted by jade408

Rule number 1, don't live in SF.

Originally Posted by ssmaster

a lot of people spend more than >45% of their income on rent

they don't save for retirement

don't have kids until they are old oops i mean more financially secure

If I had to do it all over again I would've never rented in SF during my most lucrative income making days. I made six figures as well, but that's all relative in SF. If I knew what I know now, I would've purchased property in the outerlying regions. But the seduction runs high and it is a great place to live!! Going out to eat every night and paying 2 grand for an exclusive box with a closet and half kitchen soon catches up with you however, especially during economic downturns. When you're having fun and living the high life who cares right? Maybe live there for a year to feel the vibe and then get the hell out!! hahaa! My sincere advice from one who learned the hard way. Peace!

[ragnarkar]

You can find shared housing in the Sunset district for as low as $500/mo (your own room but share restrooms and kitchen.)

Street parking is free in most of Sunset.. get a monthly bus pass if you're traveling in SF, and use the car for out of town trips.

Although I don't live in SF, my monthly expense comes out to 1500/mo even when budgeting a bit of discretionary spending.. and that's with a 600 rent.

The Frugal Living forum should be helpful as well..

[gizmo980]

Originally Posted by lmk1707

you should compromise on the neighborhoods you consider in your search in SF as well, and you will certainly be able to find something for $1600.

Bingo. I live waaaay at the edge of San Francisco (still within city limits), and pay $1680 for a 2bdr/1ba townhouse-style apartment... nice & safe neighborhood too, with covered parking for an extra $85/mo. Look a little harder, don't be so picky about living in the "hip" hoods, and you'll find something nice within your budget. Oh, and don't be afraid to haggle! They were originally asking over $2000 for my unit, until I asked how many vacancies they currently had - price dropped $300+ in a matter of seconds.

[Texas User]

You have to have stable long-term income of $100K or over to live in SF.

[gizmo980]

Originally Posted by Texas User

You have to have stable long-term income of $100K or over to live in SF.

That's weird... I've lived in SF for almost 4 years (Bay Area for 20+ years), and have never made anything close to $100K. Hmmmmmmm.

Your statement might be true in terms of buying property, but you can easily rent on less than 6 figures... otherwise wouldn't this be an exclusive upper-class ONLY city? Last time I checked, we still have plenty of middle & lower-income residents here.

[sonarrat]

Many SF residents take advantage of rent control.. they have roommates for a while, then kick them out once they can afford the place on their own merits. Have considered doing the same myself, but I don't ever want to be in the position where I feel trapped by where I live.

[mayorhaggar]

Originally Posted by Texas User

You have to have stable long-term income of $100K or over to live in SF.

[Texas User]

Originally Posted by gizmo980

That's weird... I've lived in SF for almost 4 years (Bay Area for 20+ years), and have never made anything close to $100K. Hmmmmmmm.

Your statement might be true in terms of buying property, but you can easily rent on less than 6 figures... otherwise wouldn't this be an exclusive upper-class ONLY city? Last time I checked, we still have plenty of middle & lower-income residents here.

Yes, what kind of kind lifestyle are you living? What are your financial goals?

[bigdumbgod]

Originally Posted by mayorhaggar

Drifting into hsw territory, again.

Wonder what the social scene in SF would look like if everybody made more than $100K? Would we start hearing the decrying of those who make only $200K? $300K?

[Mitoman]

The thing is, if you want your own bathroom, finding a roommate is actually more expensive than finding a studio. This is after 1 month of apartment hunting.