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this post was submitted on 30 Nov 2023
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In California, a new mortgage payment is 8-15k/month. Rent on an apartment is 3-4k/month. $150k salary isn’t enough for the mortgage and will struggle to cover that cost of rent.
Buddy of mine lives in LA and was just posting angry complaints about his rent going up to 1800/mo, so no.
I've got three friends in the LA area and one in the Bay and none of them pay anything close to 3k/mo rent or 8k(!!!!!) on their mortgages.
Those numbers are insane.
LA is cheap compared to the Bay Area. Also, I’m quoting numbers for new mortgages and new rentals. If you got your mortgage even 3 years ago, the numbers will be different.