120k/year single male downtown Seattle (apartment, rent, condo)

[Woggy]

Hey guys, I'm have a average income
Of 120k/year at my current job and I recently got a new job in Seattle that pays the same, and I'm wondering how well I will be able to live. How high can the rent be in downtown Seattle etc.

[BellevueNative]

You can't be serious.

[SitoUK]

Rents vary greatly in DT Seattle dependent on the exact area and of course the type of apartment you want to live in. In any case with 120K you can live comfortably in any area of Seattle. Without knowing where you are at the moment it's difficult to tell how it compares to you current situation. Let's say 1.5k get you a decent 1-bed apartment in many DT apartment buildings but you can of course spend a lot more than this. The other question is if you really want to live in DT. I don't think DT Seattle is a particularly nice or interesting to area to live in. Some of the surrounding areas are much more pleasant and still give you very quick access to DT. Which one is bets for you will largely depend on your lifestyle and preferences.

[Hemlock140]

Yes, it depends on your lifestyle. If you want to own a nice boat, go out to the finest restaurants daily and live in a 30th floor view penthouse suite for $9,500/month, no, you can't afford it on $120,000. If you have a simple life, and are willing to
live in a simple, small apartment in a desirable part of Seattle you will likely be able to put half your earnings into savings.

[RVD90277]

$1500 will get you a decent apartment in a smaller building, etc. it is safe and you may get a parking spot.

if you want to live in the big high rises with a doorman, concierge, etc. it will probably start at about double that.

my advice? save $2k/month and in 2 years you'll have a nice down payment for a decent condo in the city.

[eskercurve]

I second the view of renting a cheap place, save half your income for a downpayment on a house, and when you're ready buy in a desirable area. In about two years the housing situation in north seattle should be better as people realize they can sell again without going bankrupt, but the flip side is housing prices will be even more outrageous than they are now. I'd have at least 240k saved for a downpayment on a house if you're looking in Seattle proper, with all the all-cash offers and house-rich Californians and others on the market these days.