How Much Money Do You Need To Make To Live In The Bay Area

The Bay Expanse is well-known for its tech scene and tourist attractions, but information technology is likewise infamous for beingness one of the virtually expensive cities in America. For anyone considering a move to San Francisco, whether to piece of work there post-graduation or to follow a new professional calling, the statistics can seem daunting. But perhaps this information can be misleading since San Francisco salaries more make upwards the departure rent and groceries make, peculiarly if you lot effigy out means to save money regularly.

Tabular array of Contents

• Comparing Real Numbers: What Does It Cost to Live in San Francisco?
• Contesting Expenses: How Much Income Will Y'all Need to Live Comfortably in San Francisco?
• Exploring Opportunities: What Do the Job Market place and Salaries Expect Like in San Francisco?
• Stretching Your Income: How to Salve on Costs-of-Living Expenses in San Francisco

Comparison Real Numbers: What Does It Cost to Live in San Francisco?

About Americans are aware living in the San Francisco area is expensive. The costs of hire, groceries and fuel are well higher up the national average, merely the urban center makes up for it past offering salaries that also tend to exist college.

If you are thinking of moving to the Bay Expanse for the showtime time, hither are some numbers you might expect to see when shopping for places to live and creating your budget.

Rent:

If you research average hire in San Francisco, the numbers you'll encounter may stupor you. As of Baronial 2015, San Franciscans paid an boilerplate of $3,803 every month. Fortunately for nearly people looking for a place to live, this number is bolstered by the Bay Area's extravagant backdrop, where rent tin be around $10,000. So the overall average rent payment may not be the all-time reflection of what yous can expect to notice when apartment hunting.

In San Francisco, affordable apartments will price more than $2,500 a month, which, granted, is higher than the average in most states in the Southward and Midwest. If this rent payment nevertheless looks like an outrageously high amount to you, have comfort in the fact that while rent is loftier, the metropolis's lower utility costs can help soften the blow.

Alternatively, settling down just outside San Francisco can offer the benefits of living and working in the Bay Area without the brutal rent payments. Consider a rental in Hayward, for example, where rent is essentially more affordable.

Utilities:

Gas and electricity bills are a significant expense in virtually cities in the U.S. Yet, thanks to the mild year-circular weather, utility costs in the Bay Area are lower than the national average.

In San Francisco, a 1,000-foursquare-foot home will incur a monthly utility bill of less than $100. For comparison, the national average electricity pecker in 2016 was $112.59, with Southern states averaging closer to $130.

Transportation:

If y'all're dead-attack driving your car in the city, San Francisco may prove to be a massive burden to your wallet. From higher fuel costs and insurance payments to terrible traffic and parking difficulties, you may discover owning and using a car is more trouble than it'due south worth.

Save up to two-thirds of the cost of driving a motorcar by using the Bay Area Rapid Transit system to commute. It may involve a lifestyle change if y'all are unused to public transportation, only the prices will remain steady for you at around $100 a month or less.

Groceries:

Many groceries are more expensive in San Francisco than in the rest of the country. The variables that get into creating these loftier prices are unclear, although loftier costs of living and labor costs may have something to do with information technology. Overall, the cost of food is 23 percent college than the national average.

An adult living solitary can expect to spend an average of $3,564 a twelvemonth on food, a number which more than than doubles and triples with whatever boosted dependents. This average assumes the family purchases only low-upkeep food items and prepares all the meals at domicile, modeled afterward the USDA's low-cost nutrient program. Considering these strict standards might be unrealistic and impossible to stick to, nigh individuals can expect a monthly food pecker of at least $600.

Contesting Expenses: How Much Income Will You lot Demand to Alive Comfortably in San Francisco?

Now that we've cleaved down the average toll of living in San Francisco, what should you expect for in a salary to live there — and not just by trying to arrive paycheck to paycheck?

Your situation will vary dramatically depending on where you determine to live, whether yous'll have roommates and, of class, what kind of job you end up working. A educatee may be able to get by comfortably with $2,000 of income every month, while a professional living on their own may require closer to $5,000 to cover all expenses.

Without university perks or a steady chore, living in San Francisco may be a challenge. Unemployment benefits are low, and with the average costs of living in the city so high, chances are y'all may deplete your savings before you know it. Fortunately, the task market place in San Francisco is promising for aspiring professionals in a multifariousness of fields. Fifty-fifty if your expenses amount to $threescore,000 a year, with the right pedagogy and background, in that location are enough of salaries out there that can cover them.

Exploring Opportunities: What Do the Job Market and Salaries Expect Like in San Francisco?

Information technology's no exaggeration that the Bay Area offers some of the highest-paying jobs in the country. The boilerplate bacon in San Francisco was estimated at $96,677 in 2016, while the national median household income was no more than $59,039 the same year.

To accept these numbers a step farther, if the average for a unmarried adult'south expenses in San Francisco was $40,833 in 2017, 42 pct of that average income covers necessities, leaving more half the earnings bachelor for investing or using in other means.

While the urban center is ripe with opportunities for techies and finance professionals, near of the higher-paying jobs are highly competitive. That's non to say they are few and far between, though. Information technology'southward an excellent city for recent college grads to pursue a career, peculiarly if they're looking to brand a living in i of the following top industries in San Francisco.

Tech:

New graduates volition find the tech startup openings in San Francisco are in high need. Not only are there vast opportunities in this field, merely the paychecks are very appealing. The three jobs that pay the nigh in the Bay Expanse are all tech jobs: information scientist at $142,729, software engineer at $124,555 and database administrator at $110,887, all between 18 and 28 per centum in a higher place the national average.

While these averages reflect the pay of senior employees, fifty-fifty the salaries for individuals just starting out are higher than national standards. For example, the median salary for entry-level software engineers is $108,314, a whopping 42 percent higher than the national average salary rate. Needless to say, if technology is your passion, San Francisco is where you'll reap generous rewards for your work.

Even for those without specific tech experience, these startups are also searching for sales professionals, facility managers, human resource, accountants, business organisation developers and other administrative positions, so there are many ways to get your foot in the door in the tech world.

Learn More Most Tech Salaries

Health Care:

Yous can find the most prominent employer in the Bay Surface area inside the health intendance industry. More and more hospitals are getting built, which continue to add to that number.

Physician's administration make an boilerplate of $120,736 in the Bay Area, while a registered nurse might earn an boilerplate of $123,762, which is 88 percent higher than the national average pay.

Finance:

The finance globe offers a lot of high-demand opportunities for recent graduates also. With abundant banks that invest in tech companies, along with corporate offices of banks like Wells Fargo and the Federal Reserve Banking concern of San Francisco, positions are rife with opportunity and hefty paychecks.

The boilerplate bacon in San Francisco for a financial analyst, for example, is $77,280 a year, which is 22 percent higher than equivalent positions in other parts of the land. Ofttimes this is an entry-level position, which over fourth dimension will lend itself to growth and exciting career opportunities.

Other Height-Paying Industries:

Health intendance and engineering science are the industries that command the highest number of high-paying jobs, merely at that place are always other fields you can pursue. Of form, nearly of the highest-paying jobs require extensive education and feel and are rarely entry-level. However, keeping them in mind will be useful for those looking to transfer to the Bay Area or who want to map out their escalating career path in a given industry.

Included in the highest-paying jobs in San Francisco, yous'll discover:

• Chief executives
• Natural science managers
• Dentists
• Marketing managers

If San Francisco is where you envision your futurity, you'll be glad to know you can combat the high cost of living with the numerous chore opportunities in the area. Naturally, earning such a high salary will require hard work and persistence, merely information technology will exist incredibly rewarding in the end, peculiarly if you further extend your earnings to live comfortably.

Stretching Your Income: How to Salvage on Costs-of-Living Expenses in San Francisco

Here are some tips on living frugally and reworking your upkeep so yous can live comfortably in San Francisco.

i. Cook at Dwelling

No thing where yous live or how much money you brand, cooking at home is a much more than affordable culling to eating out every day. Particularly in bustling cities like San Francisco, restaurant options are endlessly enticing, simply they can actually hurt your wallet over time if you're non conscientious, in one case y'all account for drinks and tips.

If information technology's hard to make it dorsum home to cook during the day, at least consider making java at home or stocking up on grocery store breakfast items to continue you lot from entering the nearest coffee shop during your morning commute. Keeping minor snacks with you can also help curb hunger and prevent you lot from ordering that extra appetizer.

2. Find Low-Price Entertainment

If you search for amusement options on a given day, consider browsing the web for discounted tickets or even gratis events you may be interested in. Take advantage of hiking trails, local fairs, free-admission days at museums, matinee movie screenings and other low-cost options.

If there is a pricier event you've been dying to go to, similar a festival or concert, using your difficult-earned dollars for it will feel much more than worth it if you've been careful not to crush it out every weekend.

3. Pay Yourself by Saving

Sending a percentage of your paycheck to a loftier-yield savings account is an excellent way to make your money last longer. If you go on it out of sight so y'all tin can't spend it on a whim, your money volition stay put and will exist there in instance of an emergency, or for whenever you are ready to first investing information technology.

4. Other Budget-Witting Tips

The Cyberspace is teeming with communication on means anyone can relieve money, regardless of their situation. Whether you tin can refinance your student loans, use energy-efficient appliances, get a small side job similar business firm-sitting or dog-walking or thrift-store shop exclusively, there are many means to create a budget that suits your needs while going a long mode.

Getting in bear upon with your employer is also a proficient thought. Figure out if they can direct-deposit a portion of your paycheck into a savings account for you so you'll never run across the funds and won't be tempted to spend them. Also, negotiate 401(k) matching contributions to heave your retirement funds. In the future, yous will exist grateful you took that extra step.

More Budget Tips for Renters

5. Nearly Chiefly — Cull Your Housing Wisely

While this is the last on the list, it is perhaps the well-nigh disquisitional conclusion you lot can brand to make up one's mind how far your earnings volition go. Housing is commonly the priciest investment anyone makes, so finding an affordable place to live will be hugely rewarding and assist you salve coin in San Francisco.

Some ways to save on housing include finding rentals that are less appealing to most, which will put a damper on pricing. Others may recommend living with roommates every bit the best solution to cut those costs in half.

But at Marcotte Properties, we believe there is a better way. Feel gratis to live with other people if you desire, but you lot don't accept to settle for sub-par living arrangements just to suit your budget. Instead, consider getting all the perks of working in San Francisco without shelling out your hard-earned paychecks on rent past living just outside of the city in places similar Hayward, Calif.

Lower rents are only ane of the benefits of living outside San Francisco. You'll accept greater access to other parts of the Bay Area, living expenses themselves are more affordable and the neighborhoods are welcoming, if you make up one's mind to settle down for good somewhere and purchase a home. Yous'll too be able to bask local culture and cuisine while being close to any interesting events you want to attend in San Francisco itself. You may but discover you're living the best of both worlds!

Find Affordable Housing in Hayward, CA, and the Surrounding Bay Area with Marcotte Properties

Marcotte Backdrop is here to aid you lot make the most of your rental experience. We have a selection of properties that can suit all your needs and requite you the freedom to bask the Bay Expanse and exist kind to your budget simultaneously. Contact us today to larn more than almost our available backdrop, or give united states a call at 800-538-1724 for more than information.

To begin estimating your living expenses in the San Francisco Bay Expanse, download our free budget spreadsheet and feel free to customize based on your needs.

Free Template! – Bay Area Price of Living Budget

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Source: https://www.marcotteproperties.com/much-money-need-make-live-san-francisco/

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