Living in Los Angeles, a city of opportunity and culture, is a dream for many. But with its high cost of living, a common question remains: can you live comfortably on a $70,000 salary? For a single person or a small household, achieving a high quality of life is possible, but it requires careful budgeting, strategic housing choices, and a clear focus on financial goals.
With studio apartments at Sagela starting at $2,195 and other budget-friendly luxury options available, living well in LA is achievable—but it requires intentional planning. Let’s dive into what it takes to make a $70K income work in the city.
Quick Breakdown: Living in LA on $70K
- Housing: Typically the largest expense; requires prioritizing value and location.
- Transportation: Manageable through public transit or living near work hubs.
- Lifestyle: Possible to enjoy the city by mixing home-cooked meals with free local activities like beaches and parks.
- Savings: Aim for 10–15% of take-home pay to build long-term security.
Understanding the Cost of Living in Los Angeles
Los Angeles ranks among the most expensive metropolitan areas in the U.S.. In Los Angeles County, the median household income is approximately $72,000 annually, while median rent for a one-bedroom apartment often reaches around $2,500 per month.
While a $70K salary—providing roughly $4,500 in monthly take-home pay—is close to the city’s median income, living comfortably requires high financial awareness and smart prioritization.
How Much Do You Need to Live Comfortably in LA?
According to a living wage calculator, a single person needs approximately $76,000 annually to live comfortably in Los Angeles without financial stress. Though a $70K salary falls slightly below this threshold, thoughtful lifestyle choices can bridge the gap.Here’s a breakdown of typical monthly expenses for a single person earning $70K:
- Rent: $2,195 (Sagela studio apartment baseline).
- Transportation: $400 (car payments, insurance, and gas).
- Utilities: $200 (electricity, water, and internet).
- Groceries: $450.
- Discretionary Spending: $300 (entertainment, dining out).
- Savings: $300–400 (emergency fund or long-term goals).
- Other Expenses: $200 (healthcare, subscriptions, and miscellaneous).
Is 70K a Good Salary in Los Angeles?
A $70,000 salary is close to the median for the county but is often considered a “planning-heavy” income due to the city’s cost structure. For those at this level, nearly 50% of monthly income may go toward housing. However, choosing affordable, amenity-rich options like Sagela’s studios starting at $2,195 can help individuals maintain a premium lifestyle without overspending.How to Live Comfortably on a 70K Salary in Los Angeles
- Prioritize Housing Without Compromising Quality Opt for budget-friendly luxury apartments that combine modern amenities with reasonable rents. For those looking to lower costs further, sharing a larger unit with a roommate is a strategic way to access high-end living for less.
- Manage Transportation Costs Consider living closer to work to reduce commute expenses or utilize public transit and carpooling to save on gas and insurance.
- Cut Discretionary Spending Limit dining out and take advantage of LA’s numerous free attractions, such as local beaches, hiking trails, and world-class museums.
- Build Financial Security Consistently save a portion of your take-home pay to cover unexpected expenses like car repairs or medical bills, ensuring a safety net is always in place.
Sagela Apartments: Affordable Luxury Living in LA
Sagela offers thoughtfully designed apartments starting at $2,195 for studios and options under $3,000 for larger layouts. These apartments strike the perfect balance between affordability and luxury, making them ideal for individuals earning 70K. Amenities include:- Resort-style pools and rooftop lounges.
- A two-story fitness center with modern equipment.
- Spacious, open-concept layouts designed for comfort.
Additional Insights for Comfortable Living in LA
If you’re exploring ways to optimize your budget, here are some additional tips:- Explore Shared Housing: Renting a two-bedroom apartment with a roommate can significantly reduce costs. This allows you to access high-end amenities without overstretching your budget.
- Consider Your Occupation: Salaries in Los Angeles vary widely by profession. For those in high-income industries, even a 100K salary provides greater flexibility. Learn more about best apartments for a 100K income.
- Luxury Apartments Save You Money: Contrary to popular belief, luxury apartments can lower rent costs by offering energy-efficient utilities and amenities that reduce additional expenses.
Frequently Asked Questions (FAQ)
Is $70K enough for a single person in LA?
Yes, $70K is workable for a single person, but it requires careful budgeting, especially regarding housing, which is the largest monthly expense.
What is the median rent for a one-bedroom in Los Angeles?
The median rent for a one-bedroom apartment in Los Angeles County is approximately $2,500, though modern studio options can be found starting around $2,195.
How much should I save per month on a $70K salary?
A good goal is to save 10–15% of your take-home pay, which typically amounts to $300–$400 per month for those earning $70K.
Can luxury apartments actually save me money?
Yes. Luxury apartments often include amenities like high-end fitness centers and coworking spaces, which can eliminate the need for separate monthly memberships.