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Old 02-25-2011, 04:45 PM
 
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I just accepted a job in SF and will be making around 70K. Is this enough to live in the city, or would it be more reasonable to look in one of the surrounding, less pricey cities? I prefer not to live paycheck to paycheck. I also have no debt or car payments. Thoughts?
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Old 02-25-2011, 04:55 PM
 
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Yes, you can live in San Francisco on that budget, assuming you're not planning on buying a house or living in a luxury penthouse. You should be able to afford to rent something nice and still have some money to enjoy life in the city.
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Old 02-25-2011, 04:58 PM
 
Location: South Korea
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Absolutley. In SF, living with roommates would be $600 and up a month for a small room, maybe more like $800 or up for something larger like a master bedroom. A studio is around $1000 to $1200 for nice areas. A 1br would start around $1350-1400 for something small and basic but in a good area. So it's up to you to see if you could swing those prices. If you're ok with a studio you could probably afford a nice one for around $1100-1200.

The suburbs can definitely be cheaper, if you will work in downtown SF you should look at the East Bay for cities with BART stations. You can get a studio for around $850 in Rockridge in Oakland which is a really nice area, a 1br for around $1100 and a 2br for around $1250, and Rockridge is one of the more expensive parts of Oakland. Berkeley is pretty similar. Riding BART is more expensive than using Muni within SF but you're still saving more than that difference on rent in the East Bay.
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Old 02-25-2011, 07:16 PM
 
Location: AK, CA, FL, WA, AUS
6,395 posts, read 5,043,115 times
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Quote:
Originally Posted by lizbeth77 View Post
I just accepted a job in SF and will be making around 70K. Is this enough to live in the city, or would it be more reasonable to look in one of the surrounding, less pricey cities? I prefer not to live paycheck to paycheck. I also have no debt or car payments. Thoughts?
If you are single, you can easily live in SF on $70k/year. Enjoy & congrats!
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Old 02-25-2011, 08:01 PM
rah
 
Location: San Francisco
3,102 posts, read 5,163,365 times
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Household income in SF, 2009:

Less than $10,000 (21,415) - 6.6%
$10,000 to $14,999 (19,942) - 6.2%
$15,000 to $24,999 (26,232) - 8.1%
$25,000 to $34,999 (22,506) - 6.9%
$35,000 to $49,999 (32,363) - 10.0%
$50,000 to $74,999 (48,560) - 15.0%

52.8% of SF's households make less than $75,000 a year.

Family income in SF, 2009:

Less than $10,000 (4,616) - 3.2%
$10,000 to $14,999 (3,913) - 2.7%
$15,000 to $24,999 (11,394) - 8.0%
$25,000 to $34,999 (9,821) - 6.9%
$35,000 to $49,999 (14,020) - 9.8%
$50,000 to $74,999 (19,589) - 13.7%

44.3% of SF's families make less than $75,000 a year.

SF is pricey, but as you can see it's definitely possible to make it here on $70k a year.
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Old 02-26-2011, 12:37 AM
 
Location: San Francisco, CA
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You can make it...but I would caution that it depends on your expectations. You are likely not going to be in the nicest parts of town, and you won't be living alone. You'll have to watch your dollars a bit more carefully. But maybe this suits you...
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Old 02-26-2011, 01:41 AM
 
Location: Oakland, CA
17,269 posts, read 11,842,036 times
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#1 Advice: don't hang out with people significantly above your income bracket.

You'll do fine. Spend carefully and it works out pretty well at $70k. One thing to note is that income tax is really high in CA, so your take home pay will be around $3500-3800 a month. Do the math to see if that'll work for you based on your savings goals/debt and expenditures.
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Old 02-26-2011, 03:37 AM
 
23 posts, read 28,329 times
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Quote:
Originally Posted by mayorhaggar View Post
Absolutley. In SF, living with roommates would be $600 and up a month for a small room, maybe more like $800 or up for something larger like a master bedroom. A studio is around $1000 to $1200 for nice areas. A 1br would start around $1350-1400 for something small and basic but in a good area. So it's up to you to see if you could swing those prices. If you're ok with a studio you could probably afford a nice one for around $1100-1200.

The suburbs can definitely be cheaper, if you will work in downtown SF you should look at the East Bay for cities with BART stations. You can get a studio for around $850 in Rockridge in Oakland which is a really nice area, a 1br for around $1100 and a 2br for around $1250, and Rockridge is one of the more expensive parts of Oakland. Berkeley is pretty similar. Riding BART is more expensive than using Muni within SF but you're still saving more than that difference on rent in the East Bay.
Curious, can you let me know what negiborhoods I can find for $1K to 1500/month in SF?
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Old 02-26-2011, 08:40 AM
 
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It's possible to live alone in San Francisco on that price. I know it's possible to rent a 1-BR in the Inner Richmond (one of my favorite areas) for that budget. A studio in other more pricey areas (the Marina, for example) is doable on that budget, too.

Just remember to factor in parking, if you have a car; on-street parking can be very difficult, and if you want a place with a parking spot you'll have to pay for the privilege.
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Old 02-26-2011, 09:50 AM
 
Location: San Mateo County, CA
99 posts, read 143,818 times
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I agree with everyone else. 70K will be just fine, and you will be able to enjoy your life and put money away for the future. I would think that some of the suburbs would be cheaper, and allow you to put more money away. But if you're young and want to experience living in the city, I say go for it. I live in the burbs now, but I used to live in NYC on a teacher's salary (39K!) So you can do it. Enjoy!
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