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It's my first time posting here... long time lurker finally decide to make my own thread.
Actually I plan on moving to D.C. for a new job and I was wondering if it's actually possible to live in the area with a meager $34,000 per year. I do not own a car so I won't be spending $$ on car insurance, and I'm wondering where I could find someplace to live that is also accessible by the metro.
Can anyone please tell me which parts of D.C. are relatively safe for housing and places that also might be more reasonbly priced? Also, other than craigslist, are there any other listings for roommates?
It's my first time posting here... long time lurker finally decide to make my own thread.
Actually I plan on moving to D.C. for a new job and I was wondering if it's actually possible to live in the area with a meager $34,000 per year. I do not own a car so I won't be spending $$ on car insurance, and I'm wondering where I could find someplace to live that is also accessible by the metro.
Can anyone please tell me which parts of D.C. are relatively safe for housing and places that also might be more reasonbly priced? Also, other than craigslist, are there any other listings for roommates?
Thank you,
soon413
Unless this is a permanent full time government job with upside, I would continue searching for a better position before moving. That $34,000 won't provide you a quality life in Washington, DC because it's only $26,500 after taxes. Add in food, rent, healthcare, Metro pass, utilities and you have no money for retirement, cable, internet, emergency, travel, entertainment or paying off debts like student loans.
Thank you. It's a year-long paid internship, just a stepping stone in my career. Is it really not enough to live by? Really? no money for internet? I just want to make sure i have enough money for food and housing and transportation, that is all.
It'd be pretty tough, but I think you can make it work, assuming you have no debt and can live thriftily. As Beltway mentioned, you're likely to be living on around 2k a month. Rent, even in a shared house/apartment, will likely run you 800-1200 in a nice, Metro accessible neighborhood (e.g. Columbia Heights, Capitol Hill). You can also consider places out in Virginia (Crystal City, Court House, Clarendon, Ballston). Rents are (slightly) cheaper for only a little father out on Metro, although those areas are not considered as "cool" as DC. I live in Arlington myself though and have no complaints though.
As you can see, living arrangements are likely to take up half of your monthly income. Metro will also be a big chunk since you'll be using that exclusively for transportation. Food and utilities will be another big chunk. I'm not sure what your health insurance situation is, hopefully your employer is giving you coverage. I think for one year you could make it work, but I'm not sure it would be a particularly fun year.
As for finding places, it's pretty much all Craigslist around here. There might be some apps/sites that do some matching for you, but I don't seem them as much of a step up from CL.
It's absolutely doable, and many people do it. If you're willing to live with multiple roommates in a group house or apartment, you can find rent as low as about $750 a month in a decent neighborhood in DC.
Now, just because some people can make $750 a month work earning 34k, doesn't mean everyone can make it work. It really depends on how much debt you have, how much money you have saved up, your personal spending habits, etc. Check with a professional financial adviser if you're not sure about your own situation.
Last edited by stateofnature; 02-25-2014 at 08:42 AM..
Thank you for all your helpful and thoughtful replies!
I have no credit card nor student loan debt to repay, so I'm all good on that front. I'll need to confirm with my employer about the insurance coverage though but i know they are offering me a 2-week paid vacation along with sick pay.
I hope to be applying to grad school at the end of the year so in no way am I seeking permanent employment from this company. I just wanted to check if it's at all doable to live with the money, as I don't ever go out on weekends anyway, even now. All I'm looking for is if I can find a good place to rent (ok with roommates) in a decently safe area of D.C., metro-accessible, won't starve, and will have the basic necessities (e.g. internet, heating, water, etc).
As far as reasonable places to live, you're going to have to hunt. It's all about finding that reasonably priced group house. They are in every neighborhood, but they go quickly.
Last edited by KStreetQB; 02-25-2014 at 09:39 AM..
Reason: Edit: You posted the answer to my question
It's so silly when people who have grown accustomed to a more luxurious lifestyle say you can't live on that. Of course you can. Many thousands on the Hill and in the non-profit sector live on that or less here everyday, and most of them have debt on top of it.
What these people really mean is that you can't live their lifestyle - going out to dinner several times a week, buying the group a round of drinks regularly, etc, which is all true.
If you lived in a shared house and are open to finding a place in one of the nearby urban suburbs as an alternative, and open to a shared living arrangement...it's doable. Not easy, but doable.
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