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Old 05-22-2008, 08:41 PM
 
Location: kansas
4 posts, read 35,743 times
Reputation: 11

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Hi.

I was just offered a job with a company in Santa Monica with a salary of $78,000. Is that enough to live in Santa Monica?

It's hard to tell how much money that actually is since I'm currently living in Phoenix.

I would like to live in Santa Monica (in order to limit commute) but as a single mother (two kids in elementary school), I need to rent a house in a safe neighborhood with good schools. I'm not sure if I can afford what I'm looking for in SM

Can anyone tell me if that salary will be enough to get me the place I want in SM?
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Old 05-22-2008, 09:10 PM
 
Location: New Orleans, LA
682 posts, read 4,337,581 times
Reputation: 356
Well, what is the "place you want?" It's going to be quite different if you are looking for an apartment or a house, and how many bedrooms, etc.
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Old 05-22-2008, 09:15 PM
 
Location: So Cal
42,279 posts, read 41,684,387 times
Reputation: 43609
Quote:
Originally Posted by sdinapol View Post
Hi.

I was just offered a job with a company in Santa Monica with a salary of $78,000. Is that enough to live in Santa Monica?

It's hard to tell how much money that actually is since I'm currently living in Phoenix.

I would like to live in Santa Monica (in order to limit commute) but as a single mother (two kids in elementary school), I need to rent a house in a safe neighborhood with good schools. I'm not sure if I can afford what I'm looking for in SM

Can anyone tell me if that salary will be enough to get me the place I want in SM?
I think 78k might be a little lean for you and 2 kids. You can do it I think, it just might be a little tough. I make that and live in alot cheaper area and still come up short sometimes, and I don't have any kids!!

Best of luck, honestly

Sam
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Old 05-22-2008, 10:12 PM
 
Location: kansas
4 posts, read 35,743 times
Reputation: 11
Quote:
Originally Posted by Chowhound View Post
I think 78k might be a little lean for you and 2 kids. You can do it I think, it just might be a little tough. I make that and live in alot cheaper area and still come up short sometimes, and I don't have any kids!!

Best of luck, honestly

Sam
Sam,

Thanks for the feedback. Could you recommend a cheaper areas that is still safe/family friendly?
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Old 05-22-2008, 10:13 PM
 
Location: kansas
4 posts, read 35,743 times
Reputation: 11
Quote:
Originally Posted by Mel2882 View Post
Well, what is the "place you want?" It's going to be quite different if you are looking for an apartment or a house, and how many bedrooms, etc.
Sorry, I thought I made it clear in my post that I wanted a house. The children could share a room so a 2 bedroom would work.
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Old 05-22-2008, 10:43 PM
 
Location: So Cal
42,279 posts, read 41,684,387 times
Reputation: 43609
Quote:
Originally Posted by sdinapol View Post
Sam,

Thanks for the feedback. Could you recommend a cheaper areas that is still safe/family friendly?
If you want to stay in the Santa Monica area it might be tough. If you think about Torrance or Long Beach , Lakewood, Bellflower, Cerritos, Downey. The commute times increases some but the cost of living gets a bit cheaper. Santa Monica is just too expensive.
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Old 05-23-2008, 01:15 AM
 
Location: Sunny L.A.
63 posts, read 177,823 times
Reputation: 49
A house on 78k a year? Maybe a decent two or three bedroom apt in the Valley, try Studio City or Sherman Oaks, although you'll have to fight traffic to get to Santa Monica, the area is nice and its really not far from Santa Monica if there is no traffic. I don't think one could get a house in Compton with 78K a year and provide adequetly for a family...just my .02 cents.

If its any consolation ,I make just a bit less, and It's tight. My rent is 1700 a month for an avg 2 bdrm in Studio City....
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Old 05-23-2008, 09:01 AM
 
Location: Hot Springs, AR
5,612 posts, read 13,800,305 times
Reputation: 3759
By my calculations, you should be able to comforably afford 1800 per month for rent and/or mortgage. With the job market the way it is, you can probably find a great deal on a lease with purchase option. Otherwise you may want to consider Culver City. It's a nice community and family friendly and only 10 - 15 min to Santa Monica. Good Luck and Welcome to L.A.

Last edited by CESpeed; 05-23-2008 at 09:02 AM.. Reason: more info
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Old 05-23-2008, 07:27 PM
 
Location: kansas
4 posts, read 35,743 times
Reputation: 11
I appreciate all the feedback. Although, the reality of life in LA is a bit shocking. Most any where else, that amount of money would do you well.

Now I understand why so many people tolerate the AZ heat.
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Old 05-24-2008, 01:16 AM
 
2 posts, read 13,716 times
Reputation: 13
I'm not sure my wife and I would be able to afford a home in Santa Monica. We currently live in a townhouse in the Palisades (next city west) and our income taxes alone last year were a hair over $80K. I'm not kidding.

Not to discourage you, but I generally consider $100K annual household income to be a minimum to survive on the West side, and that's without kids.
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