Moving from Michigan to San Francisco, California (Hayward, Concord: low income, apartment)

[miresident]

Hello,
I am living in Michigan and have a pretty steady job with base salary close to 100K. Recently got a job in San Francisco Bay Area and the company is offering around 110K. I am doing pretty well here in Michigan with 100K salary and not sure if 110K in Bay Area will be able to keep up with my existing living standards. Looking at few cost of living comparison websites, looks like my salary should be almost double in Bay Area which I don't think the employer would even think of. In Michigan I live in a nice 2,000 sqft house but I don't think that is even remotely possible in the bay area.

Obviously few of the advantages of Bay Area are, happening city, nice weather etc but then it is expensive as well. Just wanted to know your thoughts on if it is a good idea to move to CA or just live in Michigan.

Thanks

[04kL4nD]

110k in SF will be like 50k where you are. I'd stay put.

[capoeira]

Originally Posted by miresident

I am doing pretty well here in Michigan with 100K salary and not sure if 110K in Bay Area will be able to keep up with my existing living standards.

Existing living standards?! For 110K in the SF Bay area you will not be able to afford a small house in one of the worst cities. Look at this 800 sq. ft. example house in Hayward for only$499,000. It would be a stretch to buy that home on only a $110k salary.

https://www.trulia.com/property/5030...yward-CA-94541

Here is a 1,040 sq. ft. house for $849,000 in Walnut Creek which is a very nice city. One would probably need a minimum income of $170k to $200k to buy this house.

https://www.trulia.com/property/3243...Creek-CA-94597

Don't move to SF with a low income like 110k unless you are ok with the idea of never owning a home and living in a studio apartment. However if your job offer also includes 50,000 stock options with the potential of a multi-million dollar payoff it is a different story.

[Ruth4Truth]

Negotiate up, to the extent possible. Your money will go a little farther if you live in the East Bay, and commute to SF.

[tikkasf]

Originally Posted by miresident

Hello,
I am living in Michigan and have a pretty steady job with base salary close to 100K. Recently got a job in San Francisco Bay Area and the company is offering around 110K. I am doing pretty well here in Michigan with 100K salary and not sure if 110K in Bay Area will be able to keep up with my existing living standards. Looking at few cost of living comparison websites, looks like my salary should be almost double in Bay Area which I don't think the employer would even think of. In Michigan I live in a nice 2,000 sqft house but I don't think that is even remotely possible in the bay area.

Obviously few of the advantages of Bay Area are, happening city, nice weather etc but then it is expensive as well. Just wanted to know your thoughts on if it is a good idea to move to CA or just live in Michigan.

Thanks

Would you be looking to rent or buy a place to live? Is the job located specifically in the city of San Francisco or somewhere in the San Francisco Bay Area?

[mstnghu2]

Originally Posted by miresident

Hello,
I am living in Michigan and have a pretty steady job with base salary close to 100K. Recently got a job in San Francisco Bay Area and the company is offering around 110K. I am doing pretty well here in Michigan with 100K salary and not sure if 110K in Bay Area will be able to keep up with my existing living standards. Looking at few cost of living comparison websites, looks like my salary should be almost double in Bay Area which I don't think the employer would even think of. In Michigan I live in a nice 2,000 sqft house but I don't think that is even remotely possible in the bay area.

Obviously few of the advantages of Bay Area are, happening city, nice weather etc but then it is expensive as well. Just wanted to know your thoughts on if it is a good idea to move to CA or just live in Michigan.

Thanks

Everybody else has pretty much said it, but to respond to the bold/italicized quote: NOT EVEN CLOSE.
Unfortunately, that's just the reality. Unless you can negotiate a much higher income, good stock options, etc. there's no way your standard of living would be as high. If you're ok with a lower standard of living as a compromise to living somewhere like SF, than maybe it could be worth it to you.

[CAjerseychick]

Originally Posted by tikkasf

Would you be looking to rent or buy a place to live? Is the job located specifically in the city of San Francisco or somewhere in the San Francisco Bay Area?

this does make a difference, and also depending on your long range plans, you could rent out your current home in Michigan (if you do own it) and then just rent something near your workplace (possibly depending on your workplace, and/or if you are willing just to rent a room etc)- the SF bay area has a lot to offer above and beyond just having a lot of living space and easy parking.
(Had friends from Michigan that did the above, and are now back in Michigan, but would not trade those years in central SF for anything)...

[candalf]

Folks here will fill you in on the negatives so for balance I'll fill you in on the financial positives:

1. Judging by your salary you are a professional. So it is advantageous to be near many companies and other professionals if you want to keep and improve your earning potential. Bay Area is second to few for that and certainly miles ahead of Michigan.

2. If you are the kind that likes to change scenery for recreation, you have very few options in Michigan. Sure, you can camp in the woods but for any real change of scenery you need to fly, rent a car etc. In my view, Bay Area has so much accessibility to great places that you never *need* to fly anywhere.

3. Obvious benefits coming from nearly perfect climate: low or no heating/cooling bills, no need for gym membership (just go out and exercise) etc.

4. Depending on what you like, you can actually ditch the car by settling in the right place (not necessarily in SF!). Uber when necessary while forgetting car payments, insurance and repairs.

Then, for me personally, there are many cultural benefits here but since everyone has different views on what makes a good culture, I'll hold off on those comments.

[Oakformonday]

Depends on what you are willing to sacrifice. You'll net about $5,900/month (that does not include 401k, HSA or anything else besides basic taxes). Maybe you are single and have no debt than you could find something. It won't be a 2,000 sq. ft. house near SF but it will be livable. If this is good for your career than it might be a good idea take the job to get better skills and potential salary increase. Good luck!

[BurnInTheMil]

Depends on your living situation. Do you have a family, kids, etc... How much debt do you have?

All of those play a huge factor. You CAN rent a home in the Martinez, Concord, Brentwood, etc...areas for anywhere from $2500(ish)-$4000. It might not be ideal depending where your daily commute will take you.

Also, people will always say $110K isn’t worth it, but If you don’t mind living in the East Bay, it is doable. But it really does depend on your situation