I want to move back to California. I have considered moving back for a while. My ideal location to live would be Silicon Valley to catapult my career forward. However, to make this a possibly I have to do due diligence to gather information of what income I need for a substantial life.
Below are just broad references. I would look deeper into the details for the area I am looking to relocate to.
Cost of Living Index: 127.1
Grocery Index: 113.6
Housing Index: 176.7
Utilities Index: 113.6
Transportation Index: 111.1
Health Index: 109.7
The median home value in the sunny state is $429,000, and homes generally list for a median price of $425,000 ($256 per square foot). As a renter, you’re looking at a median rent of almost $1,900 and housing and rent prices in some California cities — like San Francisco — are among the highest in the nation.
Dinner and a movie for you and a guest may very well come with a $100 price tag. Basic food items, like milk, bread, and eggs, are going to cost you a pretty penny, as well. In San Fran, you may pay close to 4 bucks for a regular old loaf of bread.
Utilities, however, are not as high as they are in some of the other expensive states. In San Fran, you may just be able to keep your lights and water on in a small apartment for less than $100 per month. All in all, living in California is going to cost you. If you want to achieve that $75K standard of living, you’d need a salary of around $95,000 in California as of late.
Granted I would not be living in San Francisco, I would be living more East in a smaller city.
The cost of living in California (CA) is higher than the nationwide average. The average yearly pay in California is $57,111.00, which is higher than the U.S. average annual salary by $7,303.00. The consumer price index (CPI) of 249 in California is 6.87% higher than the U.S. city average CPI of 233. The sales tax is 7.50%.
In short, if I have the opportunity and a challenging career ahead of me, I should take it. It may be risky, by why not take bold risks to purse my dreams? Over the next couple days, I plan on preparing a personal expense report with the budget I need to live an equally satisfying lifestyle as I do here in Boca Raton. I do consider BOCA my home, I have lived here the longest period of my life. Although cozy, I unstatisfied with my career.