Ive heard that LA is so expensive. Do the jobs pay well over there??

Question

Ive got family in many parts of California and its just ridiculous what they pay for a mortgage! Are the jobs highly paid???

Answer 1

My job in LA paid $35k per year. My rent was $800 for a two bedroom in a quad-plex. Weekly cost of food was $80. at the market for two people.

Now my job in SF doing the same thing pays $53k per year. My rent is $1600 for a two bedroom house. Weekly cost of food is
now $120.

I don't plan to buy property in LA or in the SF Bay area because
the prices are hugely inflated. I hope to save enough to buy instead in Mexico or Thailand for retirement (!) I hope this helps.

Answer 2

Well of course it depends on what kind of job you have. The people who work at McDonalds are struggling like hell with their mortage payments, while others who own a business or have other higher-ranking jobs are comfortable. But it is true, prices are pretty ridiculous here compared to the rest of the nation. Especially in beach communities, like Malibu, or residential areas like Beverly HIlls, single family homes are well over 2 million (on average). You can't really find houses under 500,000 even in the cheaper areas..

Answer 3

The key to your question is the word "mortgage." People in LA don't normally own their own homes, entry level homes are $300k-$400k. My parents' house they bought 15 years ago for $175k is now worth about $450k. Me, I pay more in rent than they were paying in their mortgage, and I won't be able to afford to buy a house until... well, maybe never. Some other people jump at the opportunity to own a home (30 years from now, they won't be paying rent) and purchase more than they can handle for more than they can afford.

But if you resign yourself to the fact that you have to have a huge downpayment, good credit, and some luck to actually purchase a home, you'll be okay.

Answer 4

Some jobs are highly paid and some are far from it. I live in L.A. and I get paid 12.11/hr + commission, just to watch the store and sell accessories. Its one of the ok paying jobs. But some are just ridiculously low paying jobs. like waiters. It is expensive to live here since in my part of L.A. the lowest rent is about $2100/mo. But at least with the cost of living here the wages being paid are also being raised.

Answer 5

Hi,
I think that LA pays slightly more for the same jobs, the pay reflects the price of living to a certain extent.
A job I was doing at $10.50 an hour in Florida was raised to $12.50 in LA, for the same job. So its a little more for some jobs.

Answer 6

Let's put it this way, my dad is an engineer for the w/ and MBA living in the OC. He and his new wife are each selling their homes and moving to Temcula (east of LA in the desert) because they don't want to pay the high prices for a home. Even with the extra gas costs it will still save them $500+ a month.

Answer 7

Depends. What do you do?

Answer 8

depends on what you do