livable wage in San Jose area (Sunnyvale, Tracy: apartment, to rent, condo)

[shanersd]

I am testing for a job in Sunnyvale that starts at about $64k a year and then goes up to $67 after my first year. I have quite a bit of student loan debt, car loan and some credit card debts as well, only making about $34k in Utah right now and I survive but not by a ton. I'm single with no children

Do you guys think that wage is livable in the area, or is it crazy to even think of moving there when I have other debts? I appreciate any information at all!!

Thank you.

[jbunniii]

$64k/year without debt is doable (modest lifestyle but not uncomfortably so) if you are single and don't need bigger than a 1-bedroom apartment, which tends to rent in the $1000-$1500 range in Sunnyvale. Housing will be by far the major cost difference vs. Utah or anywhere else.

Whether you can make it work on that salary here depends on how big that debt burden is. You didn't say what line of work you're in, but if it is anything related to tech then your potential future salary will be much higher here, which in turn will allow you to pay off the debt faster even with the higher cost of living. How long will it take you to pay off the debt if you stay in Utah?

[shanersd]

I would be working for city government. Right now I probably pay half my wage in debts maybe a little less than half. But also the retirement and benefits stuff is different there and I'm afraid that $64k a year will actually be more like $50k after all is said and done.

[sonarrat]

All depends on your definition of livable. I live on an income that fluctuates, but usually winds up being around $45K a year. I have CC debt, and with the inconsistent income, I have to be careful not to get in over my head. I'm still able to live in San jose proper and support my SO, and I've kept my job so I've always been current on everything, knock on wood. I'm very thankful to be part of a company that likes to retain its employees.

[BayAreaHillbilly]

Doable for a young, single person. Been there, done that, on an inflation adjusted basis.

[treedonkey]

$60+k should be fine for someone who is young and single but if you have car and college debt and if you won't have a roommate, then things will be pretty tight, but doable.

The good news (sort of) is that avg. rent is really no more, maybe less in many cases, than it was 10 years ago. So if you're going to get in, it's good to do it now than waiting several more years. If you work well for a decent company, your pay will likely increase as housing prices go back up. Just know that buying a home may be out of the question for a long time, if ever.

[BayAreaHillbilly]

Just a final comment, from what I've heard, working for the City of Sunnyvale is excellent.

I'd say go for it!

[anchorsteam]

If you do not want an apartment by yourself, you can rent out a room for around $800/month (bedroom + private bathroom) or even less if you are ready to share the bathroom.

[shanersd]

Thanks for the input! I appreciate it. I'll be there Friday to do some looking around. I also heard Sunnyvale is a good city organization. So I'm excited to get the opportunity.

[redtide2012]

I think if he's making 67k a year he doesn't need to rent. of course he needs a little but of a down so he may have to rent the first few years. That being said I think you could either get a small one bedroom condo for like 600k in San Jose or you can buy a small estate home in Tracy (outer line areas) and commute the 50 miles to work. Chose well young troopa!