- Let's say you are currently paying 800/month for a nice one-bedroom in Pittsburgh.
- If you would like to stay in a one-bedroom, You will/should be paying about $2500-3500 / month for it in SF
- If you want to split with roommates, you will/should be paying $1000-2000 in SF
- Calculate the difference between your current rent and your guestimated SF rent:
- 3200 (nice one-bedroom rent price) - 800 = 2400
- Adjust negative car and utility
- Making car payments? You don't need a car in SF, so it's a wise choice to sell it, but you don't have to.
- Playing on average 150/month for heating/electric? Write that off too.
- 2400 - 400 (car payment + insurance + gas) - 150 (heat/electricity) = 1750
-
1750 * 12 = 21000 = that's how much net extra salary you will need
-
Now, Adjust for cost-of living expenses.
- SF is more expensive for some things.
- Dinner/Lunch is $15+
- Beer is $5 - $7.
- Drinks are 10-15.
- Milk is $4.
- Eggs are $5-9.
- Add 3000/year for extra expenses.
-
21000 + 3000 = 24000
-
Calculate expected take-home percentage. CA Tax rate is 9% and there is no local tax, It should not change much overall.
- Let's say it's 60% (After Fed + State + SS taxes)
- 24000 / 60 * 100 = $40,000
With those numbers in mind, $40,000 is the extra salary ballpark you should be getting to maintain your current lifestyle after moving to SF.
Let's say you make $90K in Pittsburgh, and you would like to make a lateral move, you should shoot for $130K in SF.
- PGH 90K = SF 130K
- PGH 80K = SF 120K
- PGH 70K = SF 110K