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FAQs

Is 7000 dollars a month good in California? ›

High-Cost Areas: In cities like New York, San Francisco, or Los Angeles, where the cost of living is high, $7,000 might cover basic needs and some luxuries but won't make you feel wealthy. Housing, transportation, and everyday expenses are significantly higher in these areas.

How Much Should You Have Saved Up? You ideally want between $10,000 and $20,000 saved up when moving to Los Angeles. However, your savings can depend on your personal situation and lifestyle choices.

One of the best ways to stay on budget in Los Angeles is to live with a roommate or two. If you're moving to LA with no money, consider how much money you could save if you could divide your housing bills in half or even in thirds! The cost per room decreases as the number of roommates in an apartment increases.

How much money should you save before moving to LA? With monthly living expenses around $3,277, the cost of living in Los Angeles is above the US average. Having savings between $10,000 to $15,000 will help before relocating, serving as a safety net for unexpected expenses, job transitions, or unforeseen moves.

You will be fine. Sunnyvale is in the Bay Area and generally is very expensive cost of living over there. I live in the bay area and my base pay is a little over $100k. My after tax take home is ~$5k.

A single person needs upwards of $80,000 a year to live comfortably in California, survey data shows.

As a rule of thumb, a good salary in Los Angeles is between $100k and $200k gross per year. Based on the cost of living in Los Angeles, this should come down to a minimum of $76,710 yearly after taxes.

It is very feasible to live in California on $60,000 a year but not how many would expect. People are feeling the withdrawals of our debt based addiction and California is a prime example of this. Half of the households in California are barely pulling in $50,000 a year similar to what we see across the US.

Across the state, 3.3 million households are living paycheck-to-paycheck, sleepless at night, wondering how they will pay for next month's rent and feed their families.

Can I move to LA without a job? ›

Of course. But with careful planning, cutting down on overall costs, and splitting your rent with roommates, living a great life in LA is possible. Last piece of advice: there are lots of great people in LA to meet, so network as much as you can.

SmartAsset says a single working adult must earn at least $114,000, or about $55 an hour, to support themselves in the Golden State. When it comes to a basic “living wage,” MIT says a single adult in California needs to earn $27.32 per hour or $56,800 per year.

December: A close second to November in terms of costs and trends. Like November, December and winter months also have lower average rent prices, particularly for two-bedroom apartments.

While your spending habits influence your budget, you can expect an average monthly cost of living in Los Angeles of $3,437 for 1 person. Living expenses in Los Angeles are twice as high as the US average, mainly driven by the high cost of housing.

A good salary in California varies widely depending on location and industry, ranging from $50K to $100K. California ranks as the fourth most expensive state in the U.S. for living costs. In Los Angeles, households spend an average of $67,587 annually, with housing and transportation being major expenses.

30% Income Rule

According to this rule, multiply gross monthly income by 0.30 to find the maximum affordable rent. For example, if gross monthly income is $5,000, maximum rent would be $1,500 (5,000 x 0.30 = 1,500).

According to 2021 data from the Bureau of Economic Analysis , the annual average cost of living in California is $53,082. Based on that number, it would cost $4,423 per month to live in California.