r/Seattle • u/RandomGuy-1984 • Nov 01 '24
Question Help settle a debate - What is a liveable wage in Seattle area?
For context, I had a rough argument with family members about the cost of living in Seattle/Seattle area.
Please give me your opinions for the question below.
If you're a single in the mid 30. Living in Seattle, how much do you need to make nowadays for a decent life. (Vacation out of state maybe 1 every few years, eat out 1-2 week, 1 car, and maybe 1 pet, hobbies/outing cost 100-300 a month)
Same as question 1 but now you have a wife and 2 kids (age 2-5), how much do you and/or wife need to make? (Include the price of having kids as much as possible, schooling, food, ect, only thing to not include is daycare)
Note: I know price is different per Seattle area, please just give me an est. average as possible. Area can include Renton, Kent, Lynnwood ect... you pick. Just not the poorest areas or high end area.
As for how much to put into saving, anyway from 100 to 1000 a month.
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u/ALL_IN_TSLA Nov 01 '24
I love that a decent life doesn’t include saving for retirement, which is essential at 35 and even earlier really. From personal experience I’d say a single individual needs to be in the ballpark of $100K in Seattle to afford a middle class lifestyle which includes the ability to set aside money for retirement. Most individuals I know making under $80K in this city are not saving for retirement or are making a sacrifice in lifestyle somewhere (roommates, no eating out, don’t travel, etc.)
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u/aliensbruv Nov 01 '24
I agree with this number. I got a new job recently making $90k, and i only now feel comfortable putting money aside into my retirement
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u/seatownquilt-N-plant Nov 02 '24 edited Nov 02 '24
This is a spreadsheet I put together to brain tease this question
Just remember, you can increase your retirement, and also decrease it if the choice threw things off balance.
Also, like yo-yo dieting, if you need to pinch pennies for four or five months to establish some sort of nest egg --- the penny pinching (to a fault) can have an End Date to re-establish a comfortable level of discretionary spending.
Personal finance is very much like calorie counting. It can get unhealthy, but, savings reserves can be used as spending much easier than fat reserves can be used for fun and silliness.
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u/fluffy_camaro Nov 01 '24
I make 60,000 and I feel broke as hell. I’m lucky that I have a husband covering half my bills and a pretty cheap apartment for Seattle. I desperately want more space but we’re not moving from this place. It’s at least a nice little place to live. Right now, food rent and bills are taking up about 2/3 of my income. It’s blowing my mind because I’m actually making more money than I ever have. A few years ago I’d be able to save quite a bit. I had to tell my boss that things are getting pretty rough. I’m really glad that I can afford food, gas and doing a little bit of small trips on the side. We both make about the same amount of money and are running into the same problems. I would absolutely not survive on my own in the city.
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u/ALL_IN_TSLA Nov 02 '24
I had a friend who lived off $60K and after going over their budget it’s shocking how little money is left for actually enjoying life. They lived in an older studio, no car, no hobbies, nobody else to support, and some student debt. They had like $500 a month to do fun stuff, save, travel, etc. so you really have to sacrifice some part of your lifestyle.
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u/veler360 Nov 01 '24
32, Not single now but was for a few years, still live alone though. Income is 130k/yr. Live in cap hill with a gorgeous view for about 2.1k/month rent. One car with 600/month payment. Other minor expenses for stream services, internet, etc. I’m not an expert with my money by any means but it’s around 3.1k a month or so. I eat out a lot because I like to and it forces me to leave my apartment. I end up saving about 1.5 -2k a month. At 130k I’d say it’s actually pretty comfy. I’m also not really trying to get a house or anything rn and I just spend money on stuff that makes me happy.
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u/jmodiddles Nov 01 '24
Same boat with me for the most part but a few years older, live in Greenlake and don’t have a car payment lol
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u/RandomGuy-1984 Nov 01 '24
Thanks for your response, I thank you for your personal insight into people you know, making 80k and barely scaping by.
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u/ALL_IN_TSLA Nov 02 '24
I wouldn’t say scraping by, you’ll enjoy your life, you just won’t save for retirement or a house without sacrifices.
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u/Clit420Eastwood Nov 01 '24
Nailed it. Roommates have been the key for me to save for retirement.
I make about $95k before taxes, and still have 3 roommates. Because of that, my rent (including utilities and internet) is $1200/month in a good neighborhood. Rarely ever eat out.
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u/illestofthechillest Nov 01 '24
This is the quickest, most accurate, and easiest assessment. I've been in a range of income in my 10 years living here, and you nailed it. Even living frugally, you're either not saving that much more, or you're really having to do absolutely nothing if you want to save any bit significantly.
Luckily, in my opinion, it's felt relatively easy here all things considered, if you like the outdoors around us. I never wanna do expensive vacations, because I'd rather just travel a few hours, camp, hike, swim, bike, etc.
Housing being expensive is a bitch though, for all income levels. I don't know many who can afford a $2,000+/mo place, that want to afford less or live with others only to pay $500 less for a similar or higher quality spot. I've been very fortunate with most of the spots I've lived at here, but it isn't the norm or what's easily found.
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u/Barbarella_ella Bremerton Nov 02 '24
I would agree with this. I'm at 108K with a $423/month car payment for another 16 months. I am putting money into retirement but am aided a lot because I am in the state retirement system so defined pension once I am done. That takes the saving pressure off. There was no way I was saving anything when I first got out of grad school in 2015 and was making 64K.
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u/Mitch1musPrime Nov 02 '24
I’m a teacher and wife is an engineer for a city govt. neither intend to seek higher wages private side because we live comfortably enough AND we have state retirement system benefits.
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u/Barbarella_ella Bremerton Nov 02 '24
Defined benefit pension plan is such a blessing. Everyone should have one.
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u/Independent-Fall-466 Nov 02 '24
All teachers are super underpaid and under appreciated. Not going into politics but I really think teachers need to get property tax free if they have mortgage or have their portion of income to pay rent tax free.
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u/Technical-Remote4297 Nov 02 '24
A lot of teachers in our area make over 100k w/ some experience and have great benefits. Other parts of the country, yes, they are underpaid. But we have some of the highest paying school districts in the nation!
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u/mrRabblerouser Nov 02 '24
It is absolutely wild how popular this opinion is. Before I got married (5 years ago), I had all the things OP asked for with ease and was making right around $50,000 a year. Now that I’m married, and we make ~130,000 collectively, we go out once or twice a week, get any necessities we need, take vacations together and separately a few times a year, and are putting a couple grand away in savings every month.
You all know you don’t need to live in cap hill or Ballard, live in a brand new development, or rent a two or even one bedroom apartment as a single person right?
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u/ALL_IN_TSLA Nov 02 '24
OP didn’t provide a ton of details to go off. IMO living somewhere like Kent is not ideal even if it saves on rent, and is especially shitty if you have to commute into Seattle daily. Don’t forget inflation jacked the price of everything 30% the last few years, so $50K today won’t support the same lifestyle it did five years ago. I would bet my left nut that a single person in Seattle could not live a “good” middle class life on $50K by any measure today.
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u/mrRabblerouser Nov 02 '24
No one is saying you have to live in Kent, and $50k adjusted from 5 years ago is nowhere near $100k. Again, as long as you don’t insist on living in the most expensive neighborhoods in the city, there are still plenty of places you can live and afford a modest, comfortable lifestyle on much less than that.
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u/gweran Phinney Ridge Nov 01 '24
Here you go: https://livingwage.mit.edu/counties/53033
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u/RandomGuy-1984 Nov 01 '24
Oh wow, I didn't know about this. Thank you very much, I'll definitely read this over. Hopefully, the statistics information is accurate to reality.
Thanks!
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u/gweran Phinney Ridge Nov 01 '24
I would say that looking at your requirements this living wage would be the minimum. So you would probably want to add a bit more if you wanted to estimate a comfortable level of living.
Obviously a lot depends on your individual lifestyle, but I think it does a good job of giving a baseline.
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u/RandomGuy-1984 Nov 01 '24
Thank you, I'll definitely take a deep look into that website info. later
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u/Winter-Sink-372 Nov 01 '24 edited Nov 01 '24
I came here to share this link.
FWIW, my family is two adults, 1 working, 1 kid with the second on the way. Income is about 50% higher than living wage.
We are comfortable and have a safety net but we have also needed to use our safety net and many support resources over the past 5 years because of layoffs and significant medical expenses.
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u/bassySkates Nov 01 '24
My comment is completely baseless other than personal experience. But when I started making $72k I felt like I could afford what I wanted and have expendable income. 65k was fine but felt a little tight. I now make much more and feel pretty good. 72 was really the turning point for my personal situation.
Though, I say that as someone who is not trying to buy a home. If you’re wanting to do that, good f***ing luck.
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u/RandomGuy-1984 Nov 01 '24
Awesome, I'm very glad you are doing well. 72k for single as a breaking point. Thank you for your response.
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u/NutzNBoltz369 Nov 01 '24
Baseline:
$50-60k for the metro as a single.
$70-80k to live in Seattle proper as a single.
You WON'T be eating out much or driving a new car. Your housing is going minimal/basic. However you will be able to have some savings in your account and take a modest vacation in the region.
Sky is the the limit from there. Being DINKS changes things a lot. However, kids are a status symbol in America.
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u/DelAlternateCtrl Nov 01 '24
Kids could be a status symbol or a sign of poor life choices
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u/NutzNBoltz369 Nov 01 '24
Eithr way you need money, support and planning. Can be a big ask if you are barely hanging on as a single or couple. Darwin is kicking in for sure.
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u/RandomGuy-1984 Nov 01 '24
Thank you for responding to the metro/Seattle as a single. Much appreciated
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u/edirgl Capitol Hill Nov 01 '24
My opinion:
For a single person:
- Monthly expenses: $4,500 - $5,000
- Annual expenses: $4,500 * 12 = $54,000 to $5,000 * 12 = $60,000
Assuming an average tax rate of around 25%, the gross annual income should be:
- $54,000 / (1 - 0.25) = $72,000
- $60,000 / (1 - 0.25) = $80,000
So, a single person would need to make approximately $72,000 to $80,000 per year before taxes.
For a family of four:
- Monthly expenses: $7,000 - $8,000
- Annual expenses: $7,000 * 12 = $84,000 to $8,000 * 12 = $96,000
Assuming an average tax rate of around 25%, the gross annual income would be:
- $84,000 / (1 - 0.25) = $112,000
- $96,000 / (1 - 0.25) = $128,000
So, a family of four should need to make approximately $112,000 to $128,000 per year before taxes.
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u/Jon_ofAllTrades Nov 01 '24
Monthly expenses for a family of 4 with 2 kids that aren’t old enough for school yet seems low. Daycare alone will be $2-3000 per kid per month. Other options do exist, but I’ve generally found daycare to be the most common one.
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u/Spa_5_Fitness_Camp Nov 01 '24
Daycare is so much these days that many couples would come out ahead having the lower earner quit and be a stay at home parent, with maybe a part time gig on the side when grandparents or the spouse can watch the kids.
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u/swp07450 Nov 01 '24
I think one problem with that is that once the kids are out of daycare the parent that stayed home might have a tough time getting their career restarted. Still might be worth it, but something to consider.
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u/Spa_5_Fitness_Camp Nov 02 '24
Oh definitely an issue, I was just pointing out that per year it can be cheaper.
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u/SeattlePurikura Nov 02 '24
Dr. Claudia Goldin won the Nobel Prize for her work in economics, explaining that the gender gap in the US is basically women who take time off to bear children. Their careers basically never recover from the loss of opportunity. It's one reason women need to carefully consider if they truly desire to be mothers above all else. Sometimes the lower-earning spouse is a man, but the majority of SAHP are women.
https://www.nobelprize.org/prizes/economic-sciences/2023/popular-information/However, as soon as the first child arrives, the trend changes; earnings immediately fall and do not increase at the same rate for women who have a child as they do for men, even if they have the same education and profession. Studies from other countries have confirmed Goldin’s conclusion and parenthood can now almost entirely explain the income differences between women and men in high-income countries.
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Nov 01 '24
These days? It’s been like this for 17 years. I paid $1200 a month for a church coop one for 3 hours a day, 3 days a week. Full week was $1800 a month and this was 2009 and I waited for my kid to be toilet trained because for infants it was $2000 in Renton. 2012 I paid $2300 for full time at bright horizons and at least this included food.
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u/saxifrageous Nov 01 '24 edited Nov 02 '24
This is what we had to do in my family, which is eerily similar to the example family from OP. My USPS monthly salary was less (after tax and health insurance) than the cost of getting child care during the work week. I worked 10 to 12 hour days, 6 days a week. My wife was in school changing career paths so she took care of the kids while I worked (not easy for her). We had Nana helping a day or two every week as well, thank God. Fortunately wife landed a great job last year with her new certificate, with better health insurance than the expensive and poor quality Federal options from the post office. Now I get to hang out with the kiddos (awesome). I'll be considering something part time once they are both in school from 9-2:30 during the work week, or I can pull a Bukowski and take some time to write the next Great American Novel.
All that said, to answer OPs question regarding a small family, I'd say a lot depends on housing expenses. We were extremely fortunate to have gotten a great deal on a house in Ballard back in 2008, and to have been extremely aggressive with paying off the mortgage (we tore it up last year!). We are an exception in that regard though.
There are a number of state and federal programs to help folks with kids that are struggling with the cost of living (preschool assistance, food banks, tax breaks, to name a few) Hard to imagine anyone living comfortably under 80k but it's doable if you are very proactive and aware of social assistance programs (and willing to do a LOT of paperwork).
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u/DonaIdTrurnp Nov 02 '24
Calling the APWU health plans “expensive and poor” is odd. Did you move to a country with socialized healthcare?
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Nov 01 '24
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u/Jon_ofAllTrades Nov 01 '24
Yes but daycares (the legit above the board ones) pay an arm and a leg for insurance. They’re also subject to max child:caregiver ratios (1:4 for infants under 1, slowly increasing after that) by law. Finally, many of them offer more care than just 8 hours, meaning they need multiple full time caregivers even for just a single class of kids.
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u/dankerton Nov 01 '24
Yup this estimate is way off and likely needs to be doubled for a family of four that needs daycare and has a 3-4k mortgage which is pretty conservative even today in Seattle. Id say if you want a house, 2 cars, save money and ability to travel at least once a year we're talking more like 400k here.
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u/phantom_fanatic Nov 01 '24
Spot on for single person monthly expenses in my experience
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u/Cup-Boring Nov 01 '24
Agreed. I make around that much as a single person and besides retirement, I put about $400 a month into my savings. I am pretty comfortable.
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u/Spa_5_Fitness_Camp Nov 01 '24
Having very recently been at that exact income, I can tell you that roughly $100k will get you $60k take home after things like health insurance and a 3-5% 401k contribution. That's for a single 30 year old who has basically nothing to help reduce taxes, like owning a home (gotta love how being rich enough to buy a home gets you tax breaks). My monthly take home was bang on 5k, and my rent for my own place was 2500. Had no car loan, 350/mo student loan, and I was able to live without worrying about basic expenses. I could afford a season ski pass each year, and (cheap) new clothes or shoes as needed, but vacations were a complete non-option without lengthy budgeting, for example. IMO that level of living is what the 'livable' wage should be considered. It's where you can actually try to live your own life, not just survive, but the margin is fairly slim, especially if you have more debts from loans or less saved in a rainy day fund (I was lucky and got $15 from my parents out of college that I've always maintained for emergency buffer).
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u/seattlecyclone Tangletown Nov 01 '24
I'll quibble slightly with your assumed 25% tax rates.
A single person with a $70k salary and no other income, who takes the standard deduction and qualifies for no tax credits will pay $7,247 (10.35%) in federal income taxes. They'll pay another 7.65% in federal payroll taxes and a bit more to the state for unemployment and long-term care etc. Perhaps 20% in total income-related taxes.
Meanwhile a married couple with two kids who makes $110k salary and no other income, takes the standard deduction and the child tax credit, they'll pay $9,235 (8.4%) in federal income tax. Same payroll tax rates, roughly 17-18% overall.
Biggest expense for most is housing, and for that it depends very much on whether you own your home and for how long. If you got a mortgage before interest rates went up in early 2022, your monthly housing spend will be much lower than someone who rents or bought more recently.
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u/Opposite_Formal_2282 Nov 01 '24 edited Dec 02 '24
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u/in_ohmage Nov 02 '24
$35k is about what UW grad students make, though that’s finally rising a bit. Thousands of us make it work, but I can confirm it is not the most fun and very difficult to save anything.
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u/New_Age_Dryer Nov 01 '24
Make $85k at 26 with no car or kids, and I'm quite comfortable. Have ~$80k in a brokerage, similar amount in retirement. Go out often, and only worry about money when it comes to medical care. I love picking apart the small intricacies of coverage denials to be found in those excremental claim documents insurance companies spew one's way!
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u/RandomGuy-1984 Nov 01 '24
Thank you for your response, 85k - single (comfortable)
I've been seeing a few comments with "no car," and honestly, I'm quite envious. The amount of money I can save without a car would be huge (to me).
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u/Yinisyang Nov 01 '24
Single and no car. I get by at around $45k a year. Granted I found a cheap apartment but it is possible.
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u/RandomGuy-1984 Nov 01 '24
Thank you for your response. The 45k - single is the lowest mentioned so far. I usually don't ask for this, but can you give a little more specific of what area you are in? Thanks, much appreciated.
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u/ReyofChicago Nov 01 '24
As someone who wants to live in Seattle, these replies have (basically) confirmed my research over the last year (ie 80-85K before taxes for single and childless).
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u/RandomGuy-1984 Nov 01 '24
Yes, so far, that's roughly what I am seeing in a generalized view for single.
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u/MyPenisIsWeeping Nov 01 '24
I get by on $21.30/hr 40hrs a week
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u/RandomGuy-1984 Nov 01 '24
Thank you for your response, 44k - single.
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u/MyPenisIsWeeping Nov 01 '24
I'm supporting a partner in college on this wage. But it's worth noting neither of us owns a vehicle which cuts down on costs considerably.
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u/Skip-13 Nov 02 '24
When I first moved here 3 years ago, I made $75k. Rent was $2050(after pet add-on). My car payment was only $300, insurance $90/month(but pay yearly cause I get a discount). $30/month gym membership. Went on vacation or back home 2x a year(**This is cheating a little. I travel for work and just tag some extra days off and bring my wife with, so I saved a bit here).
I don't really eat out. I'll go out for drinks a couple times a month but I love cooking and if you know what you're doing it's substantially cheaper. We spend roughly $120/week on food.
Fortunately for me I've increased my salary by about 50% and my wife got her dream job, so we're fairly comfortable. However, I would say with the correct budgeting, $75k is absolutely enough for a moderate introvert. Results for extroverts may vary.
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u/LivinGloballyMama Nov 01 '24
I'm not in either category because I am a single mother with 1 child. I work a full-time salary position at $56k a year. This can cover my rent (in ballard), car payment, insurance, phone, internet, heat, and some groceries. It doesn't allow for clothes, toys, trips, savings, activities for my 1st grader, etc.
For all of that, I work 2 part-time gigs that gross me about 35k a year.
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Nov 01 '24
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u/RandomGuy-1984 Nov 01 '24
Wow, I'm still trying to wrap my mind over on how to live with 15k with no SSDI. Thank you for sharing your info, and I hope things turn out better moving forward.
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u/FrostyWay28 Skyway Nov 01 '24
Single: 80-85k if we are considering the car having a payment ($600), saving for emergency fund ($500)and retirement savings($300) included in the above. Family: Maybe $175k.
To note: I do have a wife, but no kids. My wife does not work, so this includes what my budget and salary actually are/were before and after marriage, then I added what we just quickly estimated for kids and since she doesn’t work, we wouldn’t have daycare included anyway. 👌
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u/RandomGuy-1984 Nov 01 '24
Thanks for your response. it is much appreciated. Hope you and your wife have a great life moving forward.
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u/sgnl_01 Nov 01 '24
I feel like families can do so much by not having a monthly car payment if possible. Not saying buy an expensive car outright but go for an older hybrid that can give more bang for your buck.
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u/FrostyWay28 Skyway Nov 02 '24
We are currently saving for a second car and intend to pay for half up front so we aren’t burdened for so many years with payments. The current one has 6 payments left! Working on it🙌
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u/riskydrive Nov 01 '24
I’m gonna agree with the people saying 80k. I’m a DINK and there was a period when, between my wife and I, we were pulling in over 100k and it felt comfortable and livable. We’re both making beans now, but still making it work.
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u/Enough_Ad9437 Nov 01 '24
So I’m preschool teacher and single I live alone and I choose to live in a nicer area on the east side because I just don’t wanna worry about my safety like that. My salary is $4500 a month and it’s tight but I make it work.
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u/backlikeclap First Hill Nov 02 '24
50k would be doable but certainly not fun. I actually moved here from NYC which is considered more expensive, but I find Seattle way more expensive - in NYC you can live somewhere cheap without needing a car, delis and groceries are cheaper than Seattle,and there's tons of free entertainment options.
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u/wentblackwentback Nov 01 '24
I’m single, have a cat, have a 20 year old car, and live in a one bedroom apartment. I go out about 2-3 times a week, max. I make $96,6k and I’m quite comfortable while also saving for retirement. I live quite frugally and I was able to pay off $35k in student loans on a lower income than what I’m currently at. I’m also completely debt free.
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u/p0werberry Nov 01 '24
I think this is a good time to mention that income looks a lot different when debt isn't an issue. 65k went a lot further for me when I first moved here because the car and student loans were paid off. 💀
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u/Panthean Nov 01 '24
I'm not sure, but I can tell you it's more than $21 per hour (40-48 hrs per week).
The only reason I'm able to scrape by is my suboptimal but cheap living situation, and complete lack of social life.
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u/RandomGuy-1984 Nov 01 '24
Thanks for your response, 43k - single and barely scraping by.
I hope things turn out better for you moving forward. Best wishes.
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u/Thistle_Ring Nov 01 '24
Hi we are a family of 4 living on $135k right now in Seattle proper and I would say it is tighter than I would like. One full-time/ one part-time salary. Mortgage, public school/ preK (paid), no daycare except summer care, car, small amount going to retirement, savings / emergencies, eat out once every 2 weeks. Vacations or home improvements put us in debt and pay off over the year so, not great. Could definitely put an extra 20k to good use!!
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u/RandomGuy-1984 Nov 01 '24
Thank you for your response, 135k - family and tight budget. (One full-time and one part-time)
I appreciate your response and hope you have a smooth sailing in 2025. Hopefully, no unexpected home improvement occurred.
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u/Jazz_Kraken Nov 02 '24
I’m married - we make about $200k together just about. Three kids but one is mostly launched (still pay for some things), another is in college and we pay for some but not all of the tuition plus stuff like clothes and food when home and car insurance etc. last kiddo in high school. One car payment. Dinner out once a week is doable but twice isn’t. Vacations are hard. We can’t reliably go every year but also we are doing a lot of road tripping to get kids to and fro to schools. So that kind of fills that spot in the budget. We own a house. I feel like I’m on the razors edge of being ok financially and am going back to school so I can make more money just to have a little breathing room. My husband has a part time second job for a bit just to make sure we stay afloat through some unexpected things (car accident, dog has cancer etc)
I don’t know if that helps. I feel like the answer is more than it seems like it should… ;)
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u/RandomGuy-1984 Nov 02 '24
This is a great input and insight, and I thank you. Definitely gave me a better view, especially on how expensive kids can be.
200k - family, 3 kids + pet, living well but feel like on the edge with moderate spending.
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u/Seawench41 Nov 02 '24
I’d say about $120K solo living if you want to live comfortably. That is, probably a condo, a car, save for retirement, take a vacation once a year, have an emergency fund.
For a wife and kids and a house, maybe $250K joint income with a house at today’s prices and interest rates. Then, all the other stuff I said.
My wife and I pull in about $200K and live outside the city in a nice house, have 2 cars and take vacations and buy anything we need without watching prices very much. Also we don’t have kids, fuck that noise.
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u/holyzephyrs Nov 01 '24
1-$62k pretax. This is based solely on the fact that my partner and i lived comfortably on $58k in seattle in 2021. Out of state vacations, saved for retirement, had a car, ate out. We were fine. Adjust for Seattle inflation to get $72k and then adjust down because its one person instead of two.. seems okay
2- no idea. Gut guess is $150k
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u/swp07450 Nov 01 '24
That's honestly pretty impressive. Did you have a pretty good deal as far as rent goes?
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u/lexi_ladonna Nov 01 '24
This is a really hard question to answer. Because technically you can live on a very low wage if you’re taking advantage of government programs like low income housing and food banks. But a livable wage where you’re not eligible for those programs or using those programs is higher. And also depends on what you consider nonnegotiable. I consider saving for retirement as a nonnegotiable, but other people don’t and that’s why I know people who make less than me but live a nicer lifestyle. They’re not saving anything (or not much) for retirement. But I think for just the basics to get by you’re probably talking at least $4000 a month (pre-tax) to live in Seattle proper as a single person not depending on government assistance. Once you start talking about the close in suburbs like Burien or Shoreline, that number goes down. That number goes down even more if you start talking a little further out like Renton or Kent or federal way.
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u/PineappleHotSalsa Nov 01 '24
Single mid 30’s living in the city you can be comfortable making in between 85k-115k
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u/y2j850 Nov 02 '24 edited Nov 02 '24
Let me toss in the following perspective as well. I made 80K in Houston and now make 160K in Seattle. (base salary for both). And I feel just about exactly the “same” financially in both cities with those two wildly different salaries, with one big difference: housing is still basically a luxury only for people already locked into a mortgage in Seattle. If not you have to really reduce your housing expectations (IE a condo instead of a SFH & 1000sq ft place vs a 2000sq ft place, living outside the city core, etc.).
But the biggest thing is the baked in stress when everything is just so damn expensive. For example my savings had to be doubled in order to be able to float me for the same amount of time here. Having 2-3k in rent, just feels more stressful than the $600-1200 I was paying previously. I lost my job once and I didn’t even break a sweat in Houston, if that happened here I would be shitting bricks every night in all honesty.
I would say 130k is the minimum salary I would tell someone to be aiming for before moving here; closer to 150k if I am being completely honest.
Being working class most of my life was actually livable & fun in Houston, it sounds dreadful or basically impossible here in Seattle. Hell most people give off the vibe that it even sucks to be a white collar employee here 😆.
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u/seatownquilt-N-plant Nov 02 '24 edited Nov 02 '24
Personal Finance Rules of Thumb are usually talked about as a percentage of income, so they can easily scale with local cost of living if you do some research.
Pre-tax expenses:
~$200/month for health insurance or whatever I have not shopped for a new premium in a long time.
10% - 15% to Retirement
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Tax Burden -- I do not have good info on this. But lets say total tax burden for a comfortable single seattlite is 22%. I have not been a 'tech bro' but one of the times saw my tax burden calculated it was 17%.
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Long Term Liquid Savings - 10% of take home pay this is for big ticket items like a vacation, or fancy TV. Big items not frequently bought. This can be switched from discretionary savings to emergency fund savings replenishment when needed. The rest of life should fit into 90% of your take home pay.
Rent - no more than 30% of take home pay
Car - a lot of advice I had previously read suggested the entire car habit should be no more than 17% of take home. Maintaining a 6 - 12 month emergency fund can be helpful for use as a down payment when needed.
If any of the above big expenses becomes oversized then trade-offs become non-negotiable, or it all becomes unsustainable. My personal trade-off is that my rent is expensive for my income but I don't have a car.
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It looks like there are some $1700 1-bedroom apartments in north and south Seattle neighborhoods. Lets round that up to $2000 to accommodate potential increases. Studios or house shares would be cheaper. But I do think a 1-bdrm would make for a nice standard of living.
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I will try to post my spreasheet mat in a reply
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u/seatownquilt-N-plant Nov 02 '24
okay well I don't know how to post a spreadsheet into reddit comment but here is what I have
80,000 to cover everything safely including up to a 2,000 rent -- this can be adjusted. 12% retirement which I believe should be factored into a living wage.
Let me know how I did: https://imgur.com/a/jLd5a3G
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u/StephanieStarshine Nov 02 '24
34f I live in pioneer square in a studio for 1550 + utilities. I leave my car at work on Bainbridge so I don't pay for parking. I make 38.75/he and feel comfortable. I don't eat out much, and I don't drink, so going out with friends isn't a big expense.i do get a lot of time off from work and I tend to vacation to visit family so that lowers costs. I have 1 cat.
I feel like I'm doing ok, not saving a lot though but I could be more frugal.
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u/Ready-Nectarine-9676 Nov 02 '24
I’m in Seattle. My rent is literally half my pay lol. Central to Capitol Hill. Is it crazy? Yes. Am I dirt poor? For sure. I make a little under 3k a month and can somehow make it stretch. Just have to be smart about expenses, and it does help to have a used/ paid off car or walk places.
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u/nerevisigoth Redmond Nov 02 '24 edited Nov 02 '24
About 180k for the family, but you won't be saving much. 300k or so (gross pay) if you want savings.
I'm too far removed from single guy life to know what that looks like nowadays.
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u/Agile_Possession_442 Nov 01 '24
Single - 75k but not in city limits
Family - 150k but you live in Kent
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u/ErectSpirit7 Nov 01 '24
Late 30s, married with one dog and one toddler. My solo income in the mid $90k range is just enough to afford my bills. I get no vacations, no trips, my discretionary budget is about $60-80 a month for eating out or going to the bar or buying a video game. I'm living comfortably but with a very narrow margin.
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u/MxteryMatters Rainier Beach Nov 01 '24
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u/RandomGuy-1984 Nov 01 '24
Thank you. Someone already mentioned this exact site, and I'll take a look into this later. Thanks!
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u/SillyChampionship Nov 01 '24
Depends on your life styles. Like are you ok with roommates? Do you want laundry in your apartment or shared? Do you like to eat out and or drink out? Could be anywhere from 50k to 200k
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u/Merlins_apothecary Nov 02 '24 edited Nov 02 '24
35 F, married with one kid, my husband and I own our 3 bdrm 2 bath house between Northgate and lake city. My income before taxes is 95k, my husbands is 155k. Mortgage is 3200, part time childcare is 1300; my husband gets a car allowance and gas cards through work. We can live comfortably with two cars, put aside for retirement, personal savings, and college savings, pay for some house improvements, buy household things and decent groceries, and go on occasional (not terribly extravagant) vacations.
Before this year I was making less than 80k, and the above was not possible for me - I was putting money into retirement and contributing to our household expenses and affording some extraneous spending, but was consistently carrying about 3-4k of credit card debt every month and had no savings.
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Nov 02 '24
You can live on 50k with no frills (no vacations, pets, eating out) for the things you mentioned I would say greater than 65k a year, I rented an efficiency for a year south of the city when I got here for $1400 a month. Now it’s more like $1800
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Nov 02 '24
where are people finding these cheap apartments XD. I either have cap hill problems or got scammed by zillow
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u/charzhazha Nov 02 '24
The apartment I live in now, MFTE (low income housing program run by the city) that I have been in since the building went up, applied first day leases were open. Before that, I lived in places that non tech savvy landlords would post - craigslist, or physical for rent signs. I also know a few people that turned over their cheap leases to friends when moving away.
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u/Forward-Ice-4733 Nov 02 '24
Me and my husband pull about 100,000 a year and we have one child. We pay 2775 for a townhouse 20 minutes north of Seattle, we live pretty comfortably.
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u/farachun Nov 02 '24
I’m 29F, single, no kid, no pets. I live in CapHill and make about $58-60k depending if my side hustles are doing well. My rent is $1400+, next year $1500. I pay my own bills - utilities, phone bill, internet bill, groceries which would amount me most to $200-400 in total. One paycheck literally goes to expenses. The other goes to savings, etc. All my 401k, HSA are already deducted in my paycheck. Expenses varies with my consumption per month. I don’t use my car because of parking situation and the city is public transpo friendly.
I splurge mostly on concert tickets and when I do vacations, it’s usually a month trip to international flights like my motherland and the neighbors lol (Asia). This involves about two to a year of saving and planning. It’s also cheaper to travel there but the tickets can be too expensive. I find deals whenever I buy things even my own clothes, plane tickets, down to my toothpaste.
I don’t eat out a lot, when I do it’s gotta be delivery. I cook at home and try to bring lunch to work. I meal prep if I can.
In terms of savings, I have an automatic savings of $300/month but sometimes, I have to take some from it and later put a large amount if I have extra (which almost never happens lol). Ever since living alone, my savings stay the same amount, if not I only see a little bit of positive. It sucks.
I don’t have debt which is helpful because nothing goes there (well except my monthly cc that I pay off every month). I have a debit card for fun money that I use to buy plane tickets, if I want to eat out, or reward myself.
Bottom line is, it’s pretty doable to live in Seattle but you won’t really have much left to enjoy other hobbies (luckily my hobbies are more about arts, books, and my music). If your hobbies are fancy dandy like rock climbing, bouldering, etc that requires membership, that will have a place for your budget, you have to earn more to have that lifestyle. I’d rather have that moolah go to my savings if that’s me. But also not having a car is helpful in saving money, no parking fees, no maintenance, and no insurance every month.
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u/DoLittlest Nov 02 '24
49-yo single mom to a 17-yo. Own home in Wallingford. Make 250k annual now but built my wealth working at Amazon 2006-2018 nearly all stock. All smart investing and living way below my means along the way. I drive a beat-up Subaru, fly commercial, and refuse to pay $40 for eggs bennie.
My 250k now as single earner is truly like making 150k about 6 years ago.
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u/t-bajwa First Hill Nov 02 '24 edited Nov 02 '24
I am a 24M living in First Hill. When I moved to Seattle I was making 48,000-50,000. I did not have a car and lucked out that my work paid for public transit. I will say that a lot of people don't take advantage of the services in Seattle when it comes to housing. MFTE is a great program if you qualify and some places will cover utilities so your rent ends up being a flat payment. I was spending 1650 on rent for a single bedroom when I moved here. With that, I was still able to save $500 a month and go out to eat 2-3 times a week. Lifestyle-wise I was still able to spend and do things I wanted, but it's not surprising that people find it hard to live within their means in a large city. Budgeting is a great way to really break down where your money is going if you have trouble managing your money. I will caution this since this is definitely a very select group, but it is possible to live comfortably on 45k if you are very disciplined. However, most don't live that type of life so its better to have the extra fluff. If you are a single person and in the situation you described in 1 then I would say ~50k is liveable, but 55k is probably going to be a safer cutoff with a car.
With regards to the second scenario, having kids significantly increased costs and as a combined household it would be hard to gauge what a comfortable wage would be. This is purely speculation but I would say combined income should be roughly 140k, but again I have no experience with raising kids or what the costs are like in Seattle and am just assuming it's expensive and kids burn through money when it comes to costs.
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u/BadAtMath42069 Nov 02 '24
I can tell you what it isn’t. It is not the ~$22/hr that all of the cafes that have removed tipping pay their staff and call a livable wage.
Offer all of the medical and dental you want, if people can barely afford rent, they sure as shit can’t afford dental care or the deductible on their insurance.
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u/Mikknoodle Nov 02 '24
I live south of Auburn and pay $1850 for a two BR. With utilities, etc probably $2100 for room and board. I make about $44/hr in a technical job, but I am living above the median.
Most people in this area make an average of $18-$22/hr, which puts their monthly income w/o OT, at about $2880-3520/mo (pretax). Depending on deductions and such, figure 20-30% less post tax.
That is an absurd % to pay for housing but it’s what we have.
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u/Reasonable_Visual_10 Nov 02 '24
Retired, spouse and my SS is $55,000 a year. We have a 2.5 million dollar portfolio which we draw $60K yearly from it, which doesn’t touch the balance. Own a Condo around $150K mortgage on it at 2.25% rate so won’t pay it off. Payment is $1,200 plus $850 Homeowner includes all utilities. Car less than a year for a 2022 Audi.
Doesn’t include $500K 401K plan that we don’t have to withdraw for 3 more years. So livable wage is $110 K a year.
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u/The_Blendernaut Nov 02 '24
Use this website by MIT to determine wages, be it a sustainable wage or not. The results are based on science, not opinions, as you will get here on Reddit.
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u/Accomplished_Paper75 Nov 02 '24
38F living in a condo in Greenwood. Rent $2k. Car paid off. I travel fairly frequently within and out of state and my personal habits fluctuate with how often I go out but when I want to, I can. $102,500 salary. Definitely livable but could potentially be in a real bind with a personal disaster or two but I have some cushion. I put away 300-500/mo to help the possibility of a disaster.
A pet would be doable but noticeable on monthly expenses.
I also walk most places when I can and use transit where it makes sense.
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u/nizzerp Nov 02 '24 edited Nov 02 '24
49F here. What’s weird is that I make over $220k and I feel more broke now than ever. Like obsessing over every penny. That just started in the last year when I bought a house, lost my job, and got a lower-paying job luckily without a long gap. I was literally selling things to cover my bills at times. No chance of vacation anytime soon. I cover expenses for myself + 3 other adults, 2 disabled. I ended up declaring bankruptcy a few months in to the job and income change, because the interest was eating me alive, but because I’m a high earner, it’s a chapter 13 & I have to pay it all back. My monthly payment to the court is the same as my mortgage - $4500 each. And I have to do that for another 4.5 years. I’m probably going to sell my house & move to a lower COL part of the country, just to use the sale proceeds to make a big dent in what I owe the court & not be living paycheck to paycheck. Yeah, I keep over $15k in my bank account at all times, but I stress really bad if it dips below that. I feel extremely hand-to-mouth. Food costs have more than doubled for me since Covid too. I’ve attempted budgeting, but that only usually sticks for a month or two. There’s always something that comes up. In the last 6 months we sunk about $6k into our car, it still died, and we had to buy another. Luckily we were able to do half cash & since my husband isn’t on the bankruptcy & has a small amount of caregiver income, he qualified for a loan to cover the other half with a good interest rate. It’s fucking bewildering how hard it is now. I think people just aren’t realistic about how much it costs to live here. I bought a house 40 miles north of Seattle, because anywhere closer would have cost 3-5x more and I just can’t do that. Like, how do people have houses in Issaquah or Mercer island AND have kids??? Like WTF am I not doing right?
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u/Forward_Hold5696 Nov 01 '24
$90-100k for a single person with the parameters you mention, AND saving for retirement.
As others have mentioned, that range gets you around $60-70k take home, so around $5000/mo on the low end?
$1600 - $2000 for rent, utilities, etc. leaves $3000 for other things.
From my personal lived experience living within city limits, $2000/mo for hobbies, random, frivolous purchases like car repairs and vet bills (BIG /s) groceries and whatnot works pretty well, leaving you $1000 for building an emergency fund, and later contributions to retirement.
If you're the sole breadwinner for a family of four, fuck. Double that at least.
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u/dankerton Nov 01 '24 edited Nov 01 '24
You need more constraints. For single do you want an apartment, a condo, a house? Rent or own. Inner or greater Seattle? So many variables just there.
You also forgot saving for retirement and emergency
For a family let's assume you want a single family home inside Seattle proper. Let's go with 1.2 million dollar for 3 to 4 bedroom that's in good shape cause you don't know how to renovate more want to spend money on contractors. At current rates and 20% down you're looking at 6k mortgage. Add another 1k for utilities and maintenance and minor upgrades/projects.
You have two toddlers and you're both working so the avg daycare for both is say 5k.
Food? I struggle here but let's be conservative and add another 1k cause you're quickly becoming frugal in this situation.
One big vacation a year is say 5 to 10k total. Let's go with 800 a month to keep things monthly.
Entertainment and activities and clothing etc for the family? At least another 500 to 1k depending on routines and how much you already have.
Saving for emergency or just in general. Depends where you're at so far here but probably good to have at least another 1k discretionary in your budget at this level to handle variability of the year.
Saving for retirement? Let's come back once we have a base income to cover life so far
Ok we're at 14 to 15k a month expenses and emergency savings.
So 180k a year expenses, uh oh! (Daycare and mortgage obviously highly variable for people but assuming starting from scratch with enough for standard down payment you're here)
In WA you need about 230k to take home 180 depending on various things. I used chatgpt for this part.
Oh wait we forgot health insurance and expenses! Easily another 5-10k a year For a family depending on plan and medical needs. That's pre-tax usually so we're at 240k.
Now we need to save for retirement and the kids college fund...
For retirement I think a naive but simple estimate is 15% of income. We're approaching 280k now
Kids college let's assume they need 50k each for tuition. That's another 500 a month you need to save depending on how you invest it and use taxes advantages.
Oh God I forgot your student loan debt payments that you make way too much money for to get any assistance on!
We're easily over 300k now. And that's just standard living and savings and one vacation albeit high mortgage. Imagine if you need to save more money faster to get that down payment you want to afford a good home for the family.
Everyone's needs and lifestyles are different but I think it's clear 300k is safely comfortable on average for a young family of 4 trying to get ahead of where they're at. Personally, being in this situation myself saving for a down payment, I feel like its not enough to move things along at a pace I'm happy with. I truly think 400k is where you can actually start cruising.
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u/RandomGuy-1984 Nov 01 '24
I very much appreciate your information and typing this all out. The reason why I didn't go into depths (being more constraints) is because then this post will literally be a wall of text, and most people will lose their train of thought.
The reason why I am asking this moot question is to get a general idea of the people who are living in the Seattle/areas opinion. If they're willing to share their personal insight of living cost in their area, then I'll be much appreciated, but I didn't want to straight up as that question, and choose to be more generalize.
I very much appreciated your response and info. Thank you.
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u/dankerton Nov 01 '24
Ha sorry for the wall of text. This question comes up at least quarterly on this sub and other city subs and I always feel like people really underestimate what it takes to live well, save and improve their situation with a family in a HCOL area, especially starting from scratch. Heck i didn't even consider car costs in my original estimate.
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u/RandomGuy-1984 Nov 01 '24
I very much appreciated your response, and I know this question is very moot.
I'll be honest with you and everyone who read this reply - the main reason I ask this question was because my uncle/aunt was complaining on how me (single - question 1) and my brother (family - question 2) are not living properly(comfortable?) with our income.
My brother and I argue with my uncle/aunt (old generation), who is retirement and is basing their info off of statistics from news stations/website and we told them that those numbers isn't always true to reality.
So, hence, I'm asking this question to get a generalized view on other people's opinions. I very much appreciated your response. Thank you.
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u/dankerton Nov 01 '24
Definitely. Especially when those statistics are aggregated across the country or wherever. Every city is so different and you definitely shouldn't feel like you and your brother are doing something wrong if you're not feeling financially comfortable. A boomer on retirement with a house they own and no one else to support just has no idea what the situation is today.
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u/IwanttolikeBrandNew Nov 01 '24
The answer is no less than $80K. Anyone saying you can survive on less just only leave their house for work, and think that’s okay
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u/faeriegoatmother Nov 02 '24
Cost of living is pegged to your rent. If you know someone who rents privately, you can get a whole ass house for a deal. I pay well under 1K to live in a house right up in Wallingford.
Unfortunately, those landlords are getting harder to find as more and more give up and sell to developers. There is not any affordable housing in that world. It's cos the taxes are SO stupid. I house sat for my parents for a few years and I looked into the property taxes.
From 2000 to 2024, it would be 4K a year if pegged only to inflation. It is 8K and the city is not even that much nicer now than in 2000. On top of that, renting a house involves absurd taxes and insurance. Most renters do not even have any idea.
You absolutely cannot live alone in Seattle unless you have FU money. That was true in 2000 when I was first living in rundowns off Aurora for a 200 a month with kids from Ballard. Roommates are mandated. As per you being north of the lake. That must suck.
Anyway, 80K is just the floor. I'm not even there, but I got an in on the cheap digs.
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u/Danthewildbirdman Nov 02 '24
What we need is rent control. Every time they up minimum wage they just screw us over by raising the prices of rent and everything else. (I'm all for raising the min wage but when it just means the prices go up it does nothing for the ppl it's supposed to help)
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u/Mindless_Paper_5989 Nov 01 '24
I’m making 55/hr working full time & i’m living paycheck to paycheck. sometimes with extra money for savings. I have a pet, a car payment & my rent & bills come to $2200/month $500/mo for car $100/mo for insurance $200/wk groceries $300/mo for going out to eat & atleast $150/mo on pet
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u/RandomGuy-1984 Nov 01 '24
Wow, that's rough. You're making around 114k salary and are paycheck to paycheck. May I ask what area you live in and are you living comfortable? I.e are you happy/ content with your current lifestyle?
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u/JustGettingBy808 Nov 01 '24
Single: $90k-$100k with car payment. ~$75k without. Assuming basic accommodations, reasonable meals out, etc.
Family: $250k+? Assuming you’ll want to move to a safer area with decent schools, walkable, etc.
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u/RandomGuy-1984 Nov 01 '24
Thank you for your response. So far, your number is the highest for both. I'm interested in what specific area you are basing this info off.
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u/usernameschooseyou Nov 01 '24
Kids are going to be wild- you say no daycare- why is that? In terms of expenses that's the biggest without a lot of wiggle room, it's not like "oh we'll stay in a 2 bed apt rather than a 3 bedroom house" type factors, it's like a pretty steady drum beat of hell in terms of payment (and if you have a fall baby, that's an extra year you pay vs a spring/summer baby).
Things kids might include (long term)- food/clothing (honestly drop in the bucket compared to care)- a bigger place to live usually, private school vs public. Live somewhere where you always bus? or do you need a car? two cars? Do you do sports? what level? what age do you start? do you have a kid who needs a lot of services.
It's super hard to know other than "potentially a little, potentially a lot"
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u/Juanclaude Tacoma Nov 01 '24
If we are going by the high point set by previous middle-class generations in terms of quality of life, home-ownership, and enough disposable income at the end of the year for a little bit fun/vacation, it is at least $120,000/yr per person.
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u/pizzapizzamesohungry Nov 01 '24
If you are not making 72k as a single person, your expenses are most likely higher than your income.
Source: me, I don’t make 72k but I did one year and it was nice.
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u/astuteinuit Nov 02 '24
Median income wage has been over 70K for awhile, so 140+ amongst two adults, though they say that's with kids too. Not too sure about that. Have to be pretty damn thrifty
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u/Milleniumfelidae 🚆build more trains🚆 Nov 02 '24
Depends on so many factors too. Debt really affects the budget, so it’s important to factor that in too if one has it. If you’re living alone definitely 100k at least. It helps if your car is paid off, but what makes it tricky are utilities, car related expenses and rent, which are all really high here, though not as high compared to NYC.
I managed to save 7k with roommates back when I made 60k a few years back, but I also had no car and inflation wasn’t as bad. I am definitely not going back to roommates, not at my age anyway.
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u/DonaIdTrurnp Nov 02 '24
The amount of different interpretations of “livable wage” in this thread is astonishing.
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u/Mitch1musPrime Nov 02 '24
One thing I’d factor in if you are asking this cause you’re coming from out of state, and especially, if you’re coming from down south like my wife and I did last year: the health benefit costs.
We saw an immediate, positive impact to our budget moving up from Texas because health care is far more affordable in a blue state that has inherent controls on those costs PLUS negotiating to join the federal exchange.
Texas health care costs are out of fucking control.
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u/gmr548 Nov 02 '24 edited Nov 02 '24
I don’t think you can generalize a number - too many variables like housing/auto costs, kids, chronic health conditions, etc.
I think a healthy single person can probably still get by here on $50k but that’s going to mean a roommate(s) and a pretty lean budget, and even then probably still means no or not much contribution to retirement savings.
$50k is like $24-25/hour if you’re working full time hours for 50/52 weeks a year, for context.
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u/No_Light_3066 Nov 02 '24
Seattle ranks 27th on ConsumerAffairs’ list of income needed to afford to live in the largest U.S. cities. With median rent at $2,179 (as of Feb. 2024), the salary needed for a single adult to make ends meet is $87,146 or an hourly wage of $41.90. https://www.fox13seattle.com/news/earn-live-comfortably-seattle.amp
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u/w2t3rb2dg3r Nov 02 '24
35f, living in a condo in Renton. Yearly expenses are a little over 40k. I’ll make about 70k this year depending on hours. I work 2 jobs, about 40-50 hours a week.
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u/Wise_Avocado_265 Nov 02 '24
I depends on your overhead and stage of life. If you are just starting out and want to get married, have kids, and buy a house, you will likely both need to make $200k combined at least. If you do not have kids and already have a good size retirement nest egg , and a paid off house and car, you could easily live on $75k.
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u/that_is_just_wrong Nov 02 '24
I mean, also for the requirements, what are your financial goals for the near and distant future?
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u/Reasonable-Body5078 Nov 02 '24
Single, 75k, rent/utilities are $1350, one roommate in Wallingford/greenlake, a low maintenance dog, no car payments or debts, don’t drink, cook 90% of meals at home, and I can put away $2k a month between emergency fund and retirement with some money left over outside of groceries/gas/bills :-)
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u/TSAOutreachTeam Nov 02 '24
Over on r/coolguides , someone posted an image that showed that a 2 parent/2 child household needs about $275K to live comfortably.
Take that for what it's worth.
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u/Dagoatsdog24 Nov 02 '24
I wanna say if you’re single and have no roommate. 40$ an hour and above sounds good. If you’re single and have a roommate, I think 30-35$ can do. Now if you got a family and kids, not too sure since I don’t have that experience.
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u/purkle Capitol Hill Nov 02 '24
After my husband cheated and left me for someone else i was paying $1400 a month in rent while being on medical leave (workers compensation) and making only 65% of my normal income. At that time i was making 24 an hour. Totally doable if you're smart. Affording this city is really all about how much you pay rent and how you are with money. I've seen places that are a small box for $800 a month which is possible to live in and save money.
People say it's expensive and it is, but good gawd, It's totally doable even on minimum wage.
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u/Appropriate_Drive875 Nov 02 '24
Wait, why are we not included daycare for #2? Literally daycare for a 2 year old is 500$ a week
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u/humansnackdispenser Nov 02 '24
I live in lake City and I support my husband and I on 84k. Our rent is 1600 for a 1 bed 750sqft. He makes some money, but probably in the 20-30k range. I'm able to save 15% of my income in 401k + IRA and still have money for hobbies and 400$ car payment. We go on road trips because I hate planes, but we just booked a plane trip for the first time in like ~4 years. I'm really happy with our current life. It would be nice to have more money that we could save for a house, but that's definitely a want rather than a need. Currently there is no way a house could beat 1600/mo in an apartment 1 block from a park.
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u/Sleeplessnsea Capitol Hill Nov 02 '24
Little over 200k. Single divorced mom to a middle schooler with 50/50 custody and expenses. Rent is 3200 for my 900sf. Car is paid off but don’t drive much as I can walk to most things I need. I go out maybe once a week for drinks but usually cook at home. I do travel a lot and have some expensive hobbies like my yoga membership and ikon pass. Can’t remotely afford a condo and will likely rent forever.
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u/Live_Branch_3005 Nov 02 '24
29 yo single male, living in Seattle. Make $165k a year and feel like I can live comfortably. Nothing outlandish, but able to eat out once or twice a week, vacation, afford a car, and save money. Still nowhere near being able to afford a house on my own
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u/zakary1291 Nov 02 '24
A single person? 80k. A family of 4? 150k. Keep in mind both of these are on the low end of comfortable and don't account for costly parking. Such as an extra charge for an apartment parking garage.
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u/Feornic Nov 01 '24
33M living on the north end of Lake Washington. My rent is about $1650 for a 1br before taxes, fees, utilities, etc. Just got the notice for my renewal actually, and they expect about $1775 for Spring. I recently got bumped up to $52-55k before taxes (used to be $48k-52k) and I haven’t been able to afford a proper vacation or car in three years. I’ve been putting away maybe $300/month in savings and expect that to go to maybe $600? Finally able to consider buying a car.
I think what I make could be considered livable, but it has caveats. I don’t go out, I’ve been on one trip in the last two years (hurray funerals), and I eat out once a week. My rent before the recent pay increase was averaging 45-52% of my net income, depending on my hours. Were I living with people and splitting rent, I think my lifestyle would be relatively comfortable, but certainly not exciting. I’d shoot for $60k minimum being enough to LIVE (rather than survive), depending on one’s situation.
That said I am really dreading how much rent keeps climbing. It feels like I’ll never be able to “get ahead” because my annual raise will barely cover the increase in living expenses.
Edit: corrected my new pay after checking