ZoeT's Profile

Display Name: ZoeT
Member Since: 9/24/12

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I currently live in San Jose, CA with my husband and toddler. Despite both of us being employed full-time (but not in the tech industry), not having any debt, and living a modest lifestyle, we are not keeping up with the cost of living. Sure, there are many wonderful things about living in the SF Bay Area but, alas, we're not able to afford much of it so what's the point of struggling so hard just to survive here?

Trulia Trends blog had an article recently that gave stats on how long it'd take to save for a down payment given the average home price and income for places around the country. In San Jose, for example, if you make $1,800 a week, want to buy a home in the median price range ($325/sq ft), it'll take you nearly 13 years to save up that down payment if you're socking away 10% of your income. In SF? 20 years.

So, we're formulating an escape plan. Detroit, Ann Arbor, Portland, and Albany (NY) are high on our list of possible relocation destinations.

Living In The Most Expensive Cities:
How Long Can We Keep This Up?

9/24/12 06:24 PM