Is the west coast (Seattle) really this much more expensive?

Submitted by Firm_Bit t3_z8dw4m in personalfinance

We make about $225k pre tax in Texas which goes a long way. And we’re thinking of a move to be near the things we like to do.

Online col calculators say we need about $325k to have the same buying power in Seattle. Is that legit?

2 adults and a dog. We want to live on $4k/mo including rent, which we’d like to cap at $2500/mo. Is that doable at all? In a place like Redmond or Bellevue? Thinking a 1 bedroom apt in a run of the mill building in an ok area.

Any anecdotal evidence of what $4k/mo ($2.5k in rent) gets you there?

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the_journeyman3 t1_iyb5mn7 wrote

Both the places you mention are very expensive. Yes, it really is that expensive.

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throwaway88310 t1_iyb62kz wrote

Yeah buddy! My wife and I live in Seattle. I was more comfortable in Florida panhandle @$160k than here in Seattle @ $305k. The East side is expensive, that’s where the tech bros live. Im currently downtown because we never had a chance to live in a major metropolitan area. I have a 2 bed, 2 bath apt, 2 car parking and a store unit with all my crap from my Florida house, it runs me $5000 a month. We just upgraded from a 1 bed plus den that was around $3800. South Seattle is cheap so is way north. Expect 45 mins of traffic to get anywhere

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throwaway88310 t1_iyb6f5b wrote

I also wanted to add that 2 brown paper bags of groceries is $160 and I just got a large pizza from Rocco’s 2 days ago and it was $67 delivered.

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_WhoisMrBilly_ t1_iyb5sq0 wrote

Redmond and Bellevue are 2 of the more expensive areas in Seattle. I fully believe the numbers you’re seeing, for a while Tacoma Seattle have been some of the hottest housing markets in the US to boot.

Many people consider moving further south of Seattle to get slightly more affordable housing say Puyallup or maybe a nice home In Tacoma. Depends on what kind of commute you want.

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Momofboog t1_iyb74dj wrote

Where in Texas do you live now? There’s less of a delta between Austin and Seattle than Longview and Seattle

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Firm_Bit OP t1_iyb7kxm wrote

Dallas, which is a bit cheaper than Austin. The $325k number was comparing Dallas to Seattle.

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Reader47b t1_iybjfsz wrote

Moved from Seattle to Dallas...yeah, COL is way lower here in Texas. Both states have no income tax, so there is that, but...housing is the killer. Just settle for LESS house than you would buy in Texas. We bought too much house in Texas just because we could. We didn't need as much house as we bought.

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cerebral_girl t1_iyb5o4i wrote

Yes, it’s really that much more expensive here. But it’s worth it imo

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Firm_Bit OP t1_iyb6yq7 wrote

Can you expand on why? For is it’d be the hiking and the winter sports and the international city benefits (people and opportunities).

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abebrahamgo t1_iyce6ae wrote

Supply demand...?

It's a tech Mecha. Amazon and Microsoft headquarters are in Seattle. Lots of international talent move to Seattle.

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throwaway88310 t1_iyb6wl4 wrote

Houses are 1 million dollars for a 3bed/2bath unrenovated 1990s linoleum, crusty ass carpet and 7ft ceilings. Haha tough pill to swallow but we are in paradise. Mild weather, snowboarding and mountain biking. It’s an outdoorsman paradise.

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Firm_Bit OP t1_iyb77kh wrote

Yeah that’s what we’re looking for too!

Can I ask, do you rent or own? In what area?

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Rave-Unicorn-Votive t1_iyb6woh wrote

>Is the west coast (Seattle) really this much more expensive?

In a word, yes. Seattle is one of the most expensive areas in the country.

>We want to live on $4k/mo including rent, which we’d like to cap at $2500/mo.

Are you both homebodies (or free outdoor-recreation bodies)? No drinks with friends, no dining out, no weekend getaways each month? If yes to the first and no to the second, you can probably do it on $4k…but it will probably be closer to tolerable than comfortable.

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Wise-Hamster-288 t1_iyb8cq3 wrote

Consider Everett or Bremerton. Light rail is getting built north toward Everett, and Bremerton is closer to many outdoor activities, but only a ferry ride away from downtown Seattle.

Bremerton and Everett both have affordable options below your cap.

Western Washington has some hidden financial advantages. Like Texas there is no income tax. And you'll likely save on utilities. Winters are mild and so are summers. Many homes don't even have air conditioning.

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the_journeyman3 t1_iybaydn wrote

Well they are trying to side that capital gains tax in. Not sure he that isn't income tax.

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rnnikki81 t1_iyba0d2 wrote

I live diagonal to both Redmond and Bellevue. Renting sn apartment here will cost you close to $3K, before utilities, parking, and pet fees. Renting a house can easily start at $3500.

Median home price in the Bellevue/Redmond area was up over 1.7 mil just a little bit ago.

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buildyourown t1_iybddkr wrote

Housing is the expensive part. We don't have income tax.

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Nickyweg t1_iybmlgj wrote

Yes.

Much more expensive to live on the coasts / major cities.

We used to live in Chicago and moved to Cleveland. Our money goes WAY further here.

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AngelX343 t1_iybmu7p wrote

If you want to mountain bike and snowboard. Look at North Bend.

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Grevious47 t1_iybpmvs wrote

I live in Seattle. Can give you some prices for you to compare.

Our 1600 square foot house at the edge of the city peaked on Zillow 6 months ago at 1.1 million.

We put our twin daughters in daycare (not an expensive one) and it coats $2800 a month for 3 days a week.

We almost never eat out and spend $1200/mo on groceries and house supplies.

Gas right now is about $5 a gallon.

Sales tax is 10.5%

We make about 280 pretax and feel pretty middle class. We have two cars (2005 with 150k miles and a 2019 with 15k), the house and thats about it. We do groceries and cook, we dont get out that much neither of us have expensive hobbies and our kids are in public school. We spend 9k a month.

Making 225k pretax you may find it actually a bit challenging to find a house with current mortgage rates.

4k a month and be inside the city? No. Redmond and Bellvue are actually more expensive suburbs. Rent an apartment in the suburbs? I dont know like $2600 for a 1 bedroom. Thats a guess can just look on Zillow.

I mean you absolutely can live in Seattle or Bellvue or Redmond making 225k....just not at 4k a month.

Another way to think about it is minimum wage in Seattle is $15/hr. Two 19 year olds working a first job in Taco Bell and living together would have more than $4k/mo to cover expenses. Meanwhile the 25 year old coding for Amazon or Microsoft (both headquartered out here) will be pulling in more than you and your wife combined. That is your competition.

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cocainecandycane t1_iybq2bf wrote

You can get a 2 bed apartment in Bellevue / Factoria (S. Bellevue) for $2200. +Water and Electric.

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rooster7869 t1_iybtzya wrote

It's lovely here. You can survive on your income but you will have to settle for a small house or apartment. It's mostly housing that's expensive, so if you are willing to make some compromises there you'll be fine

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