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You can absolutely raise a family in the SFBA on less than $300k of household income. (Source: me). You think everyone with kids in this region of 3.6m people
by derekdahmer 7y ago
You can absolutely raise a family in the SFBA on less than $300k of household income. (Source: me). You think everyone with kids in this region of 3.6m people is pulling down that kind of money?
There’s plenty of 3BR houses in the east bay for less than a million, which puts your mortgage+property taxes at around $60k, which is totally doable at even half the salary you’re talking about.
- meritt 7y ago> which is totally doable at even half the salary you’re talking about. Half that salary? That's $150k, or after taxes, about ~$8k/mo. or $3k/mo for everything else after your alloted $5k/mo. Yes, people can survive on a lot less, but why in the world would you want to live in the Bay area just to eek by on such a paltry net outcome without nearly enough to set aside for the rainy day that's coming soon. And more importantly, that I think the vast majority of SF/SV kids seem to forget is, what happens when your cushy job disappears? How long can you survive dropping $5k/mo for a house that you could be paying $700/mo in a small town.
- murderfs 7y agoMortgage interest and property tax are tax-deductible, so if you're subtracting from after-tax income, it's more like $3-4k/month.
- sagarm 7y agoBecause of the SALT cap in the 2017 tax bill, property tax is effectively no longer deductible. The MID is also worth much less because of the higher standard deduction and the SALT cap.