Making $125K in LA = how much in Seattle? (Edmonds, George: apartment, to rent)

[eyemagic]

My family of 3 is considering a move to Seattle. We currently make $125K in LA but that would drop to about $85K in Seattle. Our rent/infant daycare total $3500, so things are tight here but doable since we're otherwise frugal. There is upside potential in both cities as my husband is a full-time student. I'm assuming my husband will get a job eventually, but we can't count on him having a job before we move. He is not in a lucrative field, however.

My question is: would we be worse off by moving? As it is, in LA we can rent in a nice neighborhood with a good elementary school but fall short of buying a modest home in a decent neighborhood with decent/marginal public schools on my income alone. I understand that there's no state income tax in WA, and my potential new employer has a more generous 401(k) contribution than my current employer, but we would still be losing a significant amount of income. Could we afford to rent a nice apartment in a neighborhood like Capitol Hill and eventually buy a small home in a neighborhood like Ballard? We would need daycare/preschool for a young toddler. Daycare seems to be considerably more expensive in Seattle than in LA, and we may have a second child.

All things being equal, we would like to move -- my husband is from Washington State -- but can't if it would be financially disastrous. We have $400/month in student loan payments and $100K in savings that is earmarked for a down payment. Any insights would be appreciated.

[Seacove]

You would be okay on $85K. You wouldn't be rolling in money but that would pay rent and student loans. Childcare can be expensive so I'll let others give estimates on that but you might call Kindercare (or others) to get an idea. I would question Capital Hill for raising a baby but that's just me, I think of it as a singles area, pretty urban for Seattle. You might want to look at renting around Green Lake or straight to Ballard.

[eskercurve]

Why does everyone consider Ballard, Green Lake, Wallingford, Fremont, Queen Anne and Capitol Hill as the end-all-and-be-all of neighborhoods in Seattle?

Beacon Hill has lots of interesting shops and is MUCH CHEAPER than the aforementioned neighborhoods. Georgetown is too. And both those neighborhoods have more character in a sliver of them than the rest of the neighborhoods combined. Sorry, but I don't consider a "discovered" pocket of shops with the terrible new-style angular concrete and whatever the hell material it is on three-colored apartment and condo and shop buildings as "character."

To answer the OP's question though:

You can make it here on 85k. Just have to budget it all.

[gwix98]

I agree...you would be OK on $85K.
Where would your husband be going to school areawise?

Capitol Hill is a nice location, but probably would not be my first
choice. Yes there are families, but lots of singles, clubs,etc.
It is not inexpensive either for families.
I work in that area so probably would not choose it.
I like Wallingford,Ballard as alternatives as well as Greenlake.
All safe from my perspective, and good transportation in and out,
although Ballard is a bit more difficult as its a ways from I-5.

And if you can do the suburbs, just north of the University District
might be a good choice. Still relatively close in, and busable to
about any place you would need to go.

No real idea about the childcare. I'm not fond of places like Kindercare, but many people have good experiences.
If you know someone in the area with small children they might be your
best bet for info about possibilities.
No doubt about it, childcare takes a big bite of income.

I live in Edmonds which is very safe, undergoing transition as young families
begin to move here, extremely safe, but maybe a bit to far out for you?

[eyemagic]

OP here. Thanks for the responses -- I will check out your suggestions. To clarify, I mentioned Capitol Hill because that's where I'd be working and we were floating the idea of getting by on one car and despite coming from LA, we are not accustomed to long commutes.

[Vinylly]

$85,000 is about the average income for a single person in the high-tech industry. When my daughter worked at Microsoft she was making $100,000+. If you are on a single salary you will be living frugaly. You should avoid Queen Anne and Capital Hill, -they are above your income level. If you both worked then you probably could afford them. Both my daughter and son-in-law work and they can barely afford the Wallingford area.

[Hemlock140]

There are very few good public schools in Seattle and they are in the most expensive areas. I'd suggest renting the best place you can afford close to word for now, and hopefully by the time your toddler is ready for school your spouse will have a good job and you can afford an area with good schools.

[evda]

Daycare centers in downtown and within a five mile radius tend to run $1,800/ month for an infant, $1700 for a two year old. You can find home care in the north end neighborhoods for around $1,000 to 1,200/month but don't expect the same structure provided by a center. Infant waiting lists are usually at least eight months. Much easier to get a two to three year old in.

[Freebird2007]

$85k and family of 3 would be scarping by barely. That is what I make and my kid aint even in day care yet

[Count David]

If it were me

-I'd take the $100K, pay off the student loan and any other debt
-save up enough money to move and go rent a place in WA
-and then save for a down payment on a house in WA

-and, if husband is still in a regular brick-and-mortar school in LA, I'd have him finish it in LA.