I am planning on moving to Seattle in the next 9 to 12 months and I am curious if $ 40K is a reasonable lower level salary when taking care of a family of fiveCan a family of five live comfortably on 40,000 dollars a year in the greater seattle area?
That would put you below the poverty level here so absolutely not!
The cost of living in Seattle is pretty high. It depends on what standard of living you expect to have, but $40,000 per year for a family of five will be difficult since the average annual income per person is over $30,000. If you want to rent a 3 or 4 bedroom house or apartment it will probably cost about $1,000-$2,000 per month for your housing costs alone. To buy a 3 or 4 bedroom house in a decent neighborhood will probably cost about $300,000 even in the current depressed housing market. Food and gas are also expensive.Can a family of five live comfortably on 40,000 dollars a year in the greater seattle area?
No way, average income is like 60 thou, most ppl make more. To support a family of five off that much will be very difficult. Most single ppl making that much with only themselves to support would have a difficult time. You would have to move to cheaper neighborhoods that are less desirable. Rent for a one bedroom in the city is close to one thousand to two a month, so for five or even four you wouldn't be able to afford city living.
I suggest finding a better paying job, and or government help, because not to sound mean, but that income would be considered poverty here, especially for that many dependants.
My friend was making over 50 thou just for herself and manage not to be able to save a dime in two years. But she also eats out everyday....
Good luck, search around and you probably can find a cheaper area going south or north. Also find a better paying job.
Also no house is 300,000 here unless you are out of the Seattle area or in a cheap condo.
To live 30 miles away houses in this area according to the size of your family range from $450,000 to over a million.
moving to a town or city outside of Seattle may be your best bet, you can always commute if you plan on working downtown, and if your income increases with your new job you can always think about relocating closer to the city then. Seattle is getting to be very pricey, but there are a lot of great cities on the outskirts you just got to look a little.
What is comfortable for one person might be considered 鈥榣iving high on the hog鈥?or even 鈥榙estitute鈥?by another. For my standard of living, there is no way I could make due on $40,000 per year divided over 5 people. For the sake of comparison, I am married and have 3 kids 鈥?so I鈥檓 a family of 5. We own a modest home in the Seattle suburbs, drive late 90鈥檚 cars (that we own outright) and all three kids play select or premier level soccer. Our combined income is approximately $120k per year and it鈥檚 tight - sometimes VERY tight.
Absolutely not.
You could "get by" in E WA for $40K, but not in the Puget Sound Region, particularly when you consider a dependable vehicle, medical expenses, college savings, a retirement fund, booz, tobacco...
Your housing, (rent, utils., insurance) would easily take half of the $40. And, don't forget every time you buy groceries, an auto, or any consumer goods, you pay 9.5% sales tax on the purchase!
Please stay where you are. As a taxpayer, I know I would have to subsidize your existence here...(housing, food stamps, medical coupons, etc.)
What do you mean by comfortably? You can live on that, but you won't have the biggest home or the fanciest car. You'll have to budget. But that really shouldn't be a bad thing. When I was growing up six of us lived in a 1200 sq ft home with one bath and three bedrooms. Didn't have fancy stuff. Yet, I don't remember being uncomfortable.
Like all areas, depends on where. The Greater Seattle Area has a fairly large range. If Seattle is in your address at all, no. One person can barely live on that in Seattle. In Renton, Auburn, Kent, Tacoma.... the cheaper areas, yes. It will still be a tight budget, but it's doable.
Family means more than 1 so I would say NO you could not live comfortably on $40,000. The housing alone is going to kill you. I'm not saying you couldn't do it, but you would have to live on the outskirts of town.
Use this relocation calculator... without knowing where you are now I couldn't get results but here is the link:
http://swz.salary.com/costoflivingwizard鈥?/a>
