Sustainable income for a single mid 20's male. (Atlanta: rent, condo)

[ayahuasca_mike]

Do you guys think 55k/year is a sustainable income for someone looking to move to ATL. I have a year left in Houston but I have a job waiting for me paying the said amount. I figure renting a loft/condo will run me approx 1200-1500/month. I have minimal debt and my car will be paid off by the end of the year. Are my rent expectations realistic? I will be looking to live downtown as this seems to be the most strategic location for me because of work and finishing school.

[pellur]

I would recommend you living near midtown rather than downtown. Try to keep rent lower than 1K. Get a roomate, saves you a lot.

Whether 55K/Yr is sufficient or not depends entirely on your lifestyle. With the current economic conditions, every financial advisors out there suggest building a emergency fund. With you moving to a new job make sure that your job will be secure for atleast 6 months to a year.

[ayahuasca_mike]

Originally Posted by pellur

I would recommend you living near midtown rather than downtown. Try to keep rent lower than 1K. Get a roomate, saves you a lot.

Whether 55K/Yr is sufficient or not depends entirely on your lifestyle. With the current economic conditions, every financial advisors out there suggest building a emergency fund. With you moving to a new job make sure that your job will be secure for atleast 6 months to a year.

Thanks for the advice, nothing to lavish as far as lifestyle. A pair of shoes every once in a while. Not bad shopping habbits, etc... If you don't mind me asking, why Midtown and not Downtown?

[atlantagreg30127]

Originally Posted by moddestmike

If you don't mind me asking, why Midtown and not Downtown?

You'll actually be able to walk around Midtown without people asking you for money 11 times per block, for one reason. Also, better access to grocery stores, a more lively area after dark, access to Piedmont Park, etc.

[financelife]

$55K is definitely enough! Good luck! I was there in my mid 20s and did it on $38K.

[ayahuasca_mike]

Originally Posted by financelife

$55K is definitely enough! Good luck! I was there in my mid 20s and did it on $38K.

Thanks guys. I'm extremely excited.

[wxjay]

I make nearly that much, am a 27 year old single male, and am perfectly comfortable here in Atlanta.

[DeaconJ]

Downtown is fine if you decide that is the best area for you. There are several people on this site who are afraid of and very critical of Downtown Atlanta, but this person values urban living and knows the difference between (mis)perception and reality...and also accepts the negatives and positives of living in certain environments. I lived in Midtown in 1990...and Downtown is nowhere near as neglected as Midtown was then.

There are two grocery stores located between Downtown and Midtown that would be quite convenient for a Downtown resident (Kroger on Ponce and Publix at Piedmont/North Ave), plus there are dozens of convenience stores Downtown. There are 35,000 people living within the boundaries of Downtown, along with the 30,000 students attending Georgia State University and huge hotels with up to 1,500 guest rooms, so both before and after dark there are people walking around going places and living.

You will have access to Piedmont Park from Downtown as well - Marta to the 10th Street Station and walk 2-3 blocks on 10th. Plus there are several smaller parks Downtown along with Centennial Olympic Park and Woodruff Park.

$55,000 is a comfortable salary for most people in Atlanta. You can easily live well on that much money.

[ayahuasca_mike]

Urban living is a big deal for me. Been living in the burbs my whole life. Moved to downtown Houston not too long ago and its safe to say I'll never move back to the burbs, atleast not until I get married. I also DJ in the spare time (house music) and I'm a super night owl. Los Angles was my first choice but a better school and cost of living quickly eliminated CA. Thanks again guys and any other info given is GREATLY appreciated.