Question: Can You Live In LA On 40000 A Year?

What is a livable salary in Los Angeles?

Living Wage Calculation for Los Angeles County, California1 ADULT2 ADULTS (BOTH WORKING)0 Children3 ChildrenLiving Wage$14.83$24.98Poverty Wage$6.00$7.25Minimum Wage$12.00$12.00.

Can you live comfortably on 40k a year?

The widely reported ASFA Retirement standard suggests a single person can enjoy a ‘comfortable lifestyle’ on around $44,000 a year. For couples, $40,000 provides a more modest standard of living, albeit it a little more comfortable than the Age Pension alone.

Can you live in LA on 30000 a year?

As a single person, it is still very possible for someone to live in California on $30-35k /yr. … That person still has to take into account their other expenses, like if they have credit cards and loans to pay off. But if you are talking living expenses like rent, utilities, groceries, etc.

Can you live off 50k a year in Los Angeles?

In Los Angeles County the line defined as low income for 1 person is actually $50,500 annually as of March 2018. And in the past 3 months, everything has gone up. … So, at the very least, with 50,000 annual income you could qualify for low income housing. The only problem with that is: there isn’t any.

Can you live in LA on minimum wage?

Only if you are living with several other people such as relatives. You cannot live by yourself on minimum wage unless you are homeless.

What is a good salary in LA?

The website Gobankingrates.com jumped in and did the math for us in their piece, “How Much Money You Need to Live Comfortably in the 50 Biggest Cities”. They calculated an annual income of $74,371 was about right for the average person to live comfortably in Los Angeles.