Moving from Arkansas to Los Angeles (San Francisco, Long Beach: apartments, to rent, car insurance)

[Banker C]

Hello people, it's another "moving to California" thread, but everyone has a different situation and experiences so I thought I would ask the people of this forum for some help and advice. I need to know about apartment affordability mainly and good living locations in downtown L.A. I'll get straight to it by giving as much information as I can.

- What kind of work do you do?
I accepted a job at The Federal Reserve of San Francisco, Los Angeles branch.

- Where are you moving from?
I'm moving from Arkansas (Let the jokes begin)

- Have you ever been to L.A.?
Yes I've been to L.A. several times over the years.

- Do you know where in L.A. you will be working?
Downtown L.A.

- Do you currently or do you plan on having kids, pets, elderly parents or six-foot-tall cacti living with you?
No Kids, Single, and I have simple lifestyle habits (Eat out on the weekend, shop once a month).

- Debts?
I have car payment of $300/month. I plan on paying down some debt (student loans, credit cards)

-Salary?
I will be making 70k a year (that's gross amount)

So I applied to an apartment downtown that's almost $2100/month. Parking is $160. Utilities I have to pay. Can I afford this amount of rent?

What are some good areas in Downtown L.A. and any recommended apartments? I prefer to live close to my job, but if there are other safe areas in L.A. I will consider that. I'm willing to commute up to 30 min away.

Also, does anyone know of an good moving companies? I need to bring my car and furniture for 1 bedroom apartment.

[saybanana]

In Downtown I find relatively safe areas are Arts District north of 4th, south is ok but not many areas, Little Tokyo, South Park (south of 7th street west of Olive St). Even City West which is across the freeway has all these new buildings. And maybe Chinatown but I feel it lacks urban qualities since most stores close at 6pm except for CHinese restaurants.

Other areas to consider is Highland Park which is gentrifying lower middle class-working class area but still has crime issues but good for 20s 30s single people. Eagle Rock is safe family friendly area just north of Highland Park. Pasadena is good along COlorado Blvd and south of that main road. Also South Pasadena is a desirable middle class area. There are areas west of Downtown like west Koreatown, Hollywood, Los Feliz, Silver Lake

[gomason]

I dont know how much you have travelled but downtown LA is literally one of the ****tiest downtowns I have seen ANYEHERE in the world. Generally west of Wilton Place is safe and clean neighborhoods I would actually want to live in.

Literally sometime I have to slap myself on the face to remind myself this isnt Syria.

I honestly think downtown Little Rock might be nicer and that just says more about LA than anything.

[thelopez2]

Originally Posted by Banker C

Can I afford this amount of rent?

$70k x .65 = $45,000 or about $3800 a month.

$2200 housing + parking
$300 car
$300 food at $10 a day
$100 utilities
$100 car insurance
$100 cell phone and internet /TV

$700 left for these unknown.

$??? Student loans
$??? 401k
$??? Savings for a home downpayment
$??? Medical Insurnace

[ryanms3030]

Downtown is one of the more expensive areas of LA. In my opinion you can't afford that apartment unless you get rid of your car. Subtract the $500/+ of car payment, parking and gas and it's doable.

If you want to keep the car then look at someplace cheaper. A one bedroom or studio with parking can still be found in decent areas for around $1500. I'm not an expert on downtown but I'd think North Hollywood or even Koreatown would be good places to look. You could probably commute by train from either area and Koreatown is an easy commute on surface streets. Even Glendale/Burbank would be cheaper and not terrible commute

[BRinSM]

agreed with Ryan, that rent is too much for your budget. I also second living near a subway stop. Downtown also has the best bus service in the city, so that is likely an option for you as well.

besides proximity to work and safety, what else are you looking for in a neighborhood? LA is huge and a 30 minute commute will give you a 5-10 mile radius to work with.

[Banker C]

BRinSM a place close to light rail and a grocery store/pharmacy would be nice. I'm also familiar with the Long Beach area so that could be in play too.

What does everyone think of Lopez analysis? I get some food assistance so I wouldn't spend $300 on food. So I would have around $800-900 in disposable income left over according to his numbers.

[JohnG72]

No way I would pay that high a rent. You should be around $1500 max and that pretty much precludes downtown except for microlofts. I’d be looking at roommates if I were intent on staying downtown. There’s not that many 2bd places downtown though.

[Cloudwalker]

I think his numbers look good for the basics, although $100 seems maybe a little light for cell/internet/tv. I also agree that you can get something bigger and cheaper within a fairly short bus, rail, or car commute of DTLA, plus you may get sick of being there 24/7 if you are living and working in the same area.

Your life would be quite a bit more comfortable if you have that extra $400-500 of disposable income from the savings on rent. $800-900 leftover each month doesn't give a lot of wiggle room, especially as you said you have debt you want to pay down and you'll have to pay for healthcare, either through insurance or self-funded.

[ryanms3030]

Also consider if that apartment is rent control? Probably not. Is it corporate owned building where they give you move in/first year special and jack up the rent $300 or more after first year? Probably especially if they are willing to rent to someone who isn't even here yet. It makes more sense to find something more affordable now where rent will stay relatively same. Even if your rent is $1500 and it goes to $1800 year two you'll be in a position to stay where you are as opposed to paying $2100 plus parking and then have it go to $2400 plus parking next year. I would also never pay for parking.