Quick Answer: Can You Live In LA On Minimum Wage?

Is 50k a good salary in California

50,000 a year is fine, and most people would say more than fine.

I used to make 30,000 in the bay area and it was fun, but I had to be very conservative..

What is a comfortable salary in LA

Using the 50-30-20 rule for personal budgeting (50 percent of income toward necessary costs like housing and food, 30 percent for “discretionary spending” like entertainment and going out, 20 percent for savings), an Angeleno needs to make $74,371 a year to live “comfortably” in Los Angeles, a study by finance site …

Is making 20 dollars an hour good

Originally Answered: Is 20 an hour good money? It is a decent amount to make per hour. Every two weeks, you would take home an estimated $1,278 working 80 hours in total for those two weeks. However, $2,500 a month working a total of 160 hours is going to be dreadful – especially if you don’t enjoy your work.

Is it possible to live in California with minimum wage

It is a known fact that California is one of the most expensive states to live in, and according to a new report, it takes three full-time minimum wage jobs to afford a two-bedroom rental home.

Is 100k a good salary in Los Angeles

So many people in L.A. are house poor. Then you take into account a couple of cars, the higher insurance rates, etc. $100,000 is still a great salary.

Is 70k a good salary in Los Angeles

Is 70k a good salary in Los Angeles? 70k will afford you a nice 1br apartment in a decent part of town at the least. if you’re working in the 90028 zip code, i would consider somewhere like los feliz. You can definitely make it out here on that.

Why is California so expensive 2020

California is a state with lots of progressive regulations aiming at reducing carbon emissions and preserving the environment. This takes its toll on a lot of prices, including housing costs. California’s land-use regulations have reduced the availability of housing in big cities.

Can you live in LA on 40000 a year

As others have said, you can live in LA on 40k a year. Plenty of people do. It will definitely help if you move to the right area and get some friendly roommates.

Is 60k a good salary in California

LA is full of good stuff, and 60k is absolutely liveable. I did it at that rate, just watch your debt. Its a fun city and 60k is just enough to make you think you have spending$$ when you really don’t. There’s good food everywhere – and fun to be had for every interest.

Is $15 an hour a livable wage

A $15 hourly pay scale would more than double the current $7.25 federal minimum wage. It still wouldn’t offer a living wage to low-paid single adults and families in many areas, according to a CNBC analysis of state cost-of-living data.

Can you live in LA on 30000 a year

As a single person, it is still very possible for someone to live in California on $30-35k /yr. As a married person on single income, it may be a little more difficult. That person still has to take into account their other expenses, like if they have credit cards and loans to pay off.

Is $24 an hour good

Assuming all things equal, $24 per hour would be slightly above the median household income in the US. It depends on other factors, such as type of job, job location, country, cost of living, hours per week, commute, physical and mental demands, etc.

Can you live off of $15 an hour in California

Absolutely not. Even if you were making $100,000, you would be living a very basic life. And that’s assuming you make $50/hour. So, at $15/hour minimum wage, you’re practically homeless.

How much do you need to make an hour to live in Los Angeles

You need to earn at least $33 an hour — $68,640 a year — to be able to afford the average apartment in Los Angeles County, according to Matt Schwartz, president and chief executive of the California Housing Partnership, which advocates for affordable housing.

What is a decent salary in California

A person working in California typically earns around 112,000 USD per year. Salaries range from 28,200 USD (lowest average) to 498,000 USD (highest average, actual maximum salary is higher). This is the average yearly salary including housing, transport, and other benefits.

Can I buy a house if I make 40k a year

Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. … Furthermore, the lender says the total debt payments each month should not exceed 36%, which comes to $1,200.

Is $30 an hour good

To someone who just graduated highscool or even college, a $30 an hour full time position would be a good (possibly great) salary. To an individual with 20 years of experience and multiple advanced degrees, $30 an hour would likely be far below market value.

What salary do you need to live in LA

The website Gobankingrates.com jumped in and did the math for us in their piece, “How Much Money You Need to Live Comfortably in the 50 Biggest Cities”. They calculated an annual income of $74,371 was about right for the average person to live comfortably in Los Angeles.