$45k/yr is a little bit more than the mortgage principal and interest on a million dollar house, at today's interest rates assuming a normal 20% down payment. I

$45k/yr is a little bit more than the mortgage principal and interest on a million dollar house, at today's interest rates assuming a normal 20% down payment. If you rent you a normal apartment you would spend less. If you rent a luxury apartment you'll spend more but you don't need to. I've lived in Silicon Valley my entire life, except for when I was in college, and I don't think my living expenses ever got close to $45k/yr until I bought a house, which was an entirely optional decision on my part.