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Did you know it takes a salary of $90,244 to buy a home and “live comfortably” in Los Angeles? This, according to data compiled by Finder.com, which defines comfortable living as “the ability to purchase an average home (presuming a 20% deposit has been saved), the ability to cover average per-person expenditure and the ability to pay off annual non-mortgage related household debt.” This “comfortable” number varies depending on the source (Cheat Sheet, for example, adjusts income level based on $75,000 as the magic salary number) and doesn’t factor in a host of other issues that affect income, such as race, gender, education level, etc. But what is abundantly clear is that for many Americans, the rent or mortgage is too damn high. What’s the cost of living in your city, and what do you believe you need to live comfortably?
San Francisco
For the last several years, the city by the bay has ranked as the most expensive place to live in America. An average home in Frisco costs approximately $1.12 million, which means you’d have to make a salary of $180,600. The median cost of renting an apartment is $3,880 per month. The median price of a one bedroom apartment increased 57% during the span of four years (2011-2015). San Francisco is an expensive place to live any way you slice it.
