In Los Angeles County, the living wage for two working adults with two kids is $138,000 per year, or $33.24 per hour for each adult. For a single adult with no children, the Living Wage is $26.63 per hour, or $55,300 per year.
A $200,000 a year salary is downright middle class if you're living in a big city like San Francisco, Los Angeles, Seattle, New York, Boston, Washington D.C., or San Diego.
Technically yes but do be aware that what is considered a living wage in LA is around the $70000 mark so those are 100% poverty wages. You also won't be in the best areas on what you can afford. How will you get to work? What's the commute like and can you afford it? Public transport in LA is not as developed as NYC.
How much is the cost to living in Los Angeles? 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 Rocket Mortgage online tool finds that it costs $50,000 in Los Angeles to maintain the standard of living that a mere $34,674 would buy you in Phoenix.
According to a new study from SmartAsset, a $100,000 salary in Los Angeles leaves workers with what "feels like" just $44,623, ranking it among the lowest of nearly 80 cities analyzed by the financial advisory company.
A good salary in California varies widely depending on location and industry, ranging from $50K to $150K.
If you make $75,000 a year, you're earning more than half of all workers in the U.S. And in fact, many people would probably consider the salary as good pay. After all, a $75,000 salary works out to around $6,250 per month, $1,442.31 per week, or $36.06 an hour.
The most populous state in the country has the fifth-highest threshold to be a top 1% taxpayer ($805,519, which is also the last state to exceed $800,000). California residents earning beyond this threshold are taxed at an average rate of 26.78% (fifth-highest) and account for roughly 39% of total income tax in the ...
It's important to remember that the definition of what it means to be rich is subjective. Someone who makes $250,000 a year, for example, could be considered rich if they're saving and investing in order to accumulate wealth and live in an area with a low cost of living.
In five California cities, a $100,000 median household income is considered lower-middle class, according to a Feb. 13 analysis from GoBankingRates.
As of Jan 25 the average annual salary in Los Angeles is $68,371. Just in case you need a simple salary calculator, that works out to be approximately $32.87 an hour. This is equivalent of $1,314 a week or $5,697 a month.
According to KRON 4, “Relatively, it's less expensive to raise a family in California than live comfortably alone.” According to a SmartAsset study, California ranks third-most expensive for a single adult to live comfortably at $113,652.
In most cases, $110,000 is a good six-figure salary for a single person. Even when you factor in the rising costs of housing, food, and transportation, you can still comfortably afford to live in most parts of the country.
What's a good salary in Los Angeles? 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.
The Bureau of Labor Statistics (BLS) reported that the average salary in the U.S. is $65,470, as of May 2023. Based on this data point, $70K a year is a good salary for a single person — one that puts you above the national average. But just how far $70,000 can carry you varies from person to person.
Put another way, if you're making less than $43,350 in your household, you are probably considered a low-income family. If you're making between $43,350 and $130,000, you're considered middle class. If you're earning $130,000 and above, you're likely considered upper class.
$135,000 yearly is how much per hour? If you make $135,000 per year, your hourly salary would be $64.90. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week.
The income threshold to become a part of the 1% really depends on where you live, according to a new study from Go Banking Rates. Unsurprisingly, in California, that income threshold starts at over $1 million.
A $100,000 salary is considered good in most parts of the country, and can cover typical expenses, pay down debt, build savings, and allow for entertainment and hobbies. According to the U.S. Census, only 15.3% of American households make more than $100,000 annually.
Number of households in Los Angeles, California by household income 2021. This statistic depicts the number of households in Los Angeles, California in 2021, by household income. In that year, there were 210,615 households with an income of 100,000 to 149,999 U.S. dollars.