Housing costs have risen significantly more here in Southern California than in other parts of the nation. Financial planners generally recommend you budget 30% of your income towards rent. By today’s numbers, the average one-bedroom apartment cost $28,296 annually or $2,358 monthly. The average price for a two-bedroom apartment runs $36,312 yearly or $3,026 per month!
To be able to afford the one-bedroom, you need to net $84,888.00 ($99,635 gross - $14,747 in taxes!). For the two-bedroom your net would need to be $108,936 ($128,040 gross - $19,104 in taxes)
The One-bedroom requires an hourly rate of $47.90 per hour assuming 40 hours weekly for 52 weeks.
The Two-bedroom budget would need to be $61.56 per hour! And this is as a worker!
What if you are the business owner?
The common assumption by those that have never had a business is that the business owner “gets to keep all the money”! Far from it! Most window cleaning companies average about $50,000 profit for every $130,000 - $150,000 in Gross revenue! That means if you are a solo operator, your need to bring in $150 hourly to be able to afford your own one-bedroom apartment! Want the two-bedroom? Try $200 - $250 per hour! And yes… our tax system is “progressive” Make more. Pay more. At these levels most places would have you well off. But this is California.
