Young professional making $50k a year.. (College Park, Hyattsville: 2013, apartments, rent)

[OptimusPrime69]

Do I stand a chance in making it in the DC metro area?

I'm a 28 y/o single white male, who will be relocating from San Diego to the DC metro area in June.

Uhhh, where do I even begin to look that isn't super expensive? Needless to say I'm assuming the crap areas of town are affordable, but u get what u pay for? Do u think $50k a year is doable? or will I financially drown in DC?

Also, what areas would u recommend for a young professional to go to that has things to do around it? Nothing exceptional, but perhaps a convenient community close to shops, stores, nightlife, etc. Not worried about school or noise necessarily.....Of course, safety is important as well.


Thank you for any input.

[andrew_s]

I live in the suburbs and combined with my wife make a hair over double that and a townhome is choking us. Apartments arent all that cheap unless you go to the slums and even then some arent that cheap. My advice is to look for a roomate.

[Zimar]

Where are you going to work?

[MrRational]

Plan to share a house or apartment.
Choose a location that is REAL close to the train/bus line that goes by your work.
If you have a car don't pan to use it for commuting.

With those basics establishing the basic outline... start filling in the other details as you go.

[justtitans]

Originally Posted by OptimusPrime69

Do I stand a chance is making it in the DC metro area?

I'm a 28 y/o single white male, who will be relocating from San Diego to the DC metro area in June.

Uhhh, where do I even begin to look that isn't super expensive? Needless to say I'm assuming the crap areas of town are affordable, but u get what u pay for? Do u think $50k a year is doable? or will I financially drown in DC?

Also, what areas would u recommend for a young professional to go to that has things to do around it? Nothing exceptional, but perhaps a convenient community close to shops, stores, nightlife, etc. Not worried about school or noise necessarily.....Of course, safety is important as well.


Thank you for any input.

General rule of thumb, how much you make doesn't have any importance if you have debt. If you have any type of debt then it will hinder what you would normally be able to get at that salary. So with that said, do you have any debt?

Not going to lie, with the exception of College Park and maybe Hyattsville, PG County isn't a place where you would have much of a night life for a single professional. You may have to sacrifice a few things but it depends on what you can afford.

[saigafreak]

I don't get it. How can making six figures, even in DC, cause a married couple to choke financially? Here in Raleigh (where I'm moving from), mortgage + taxes + insurance are only 900, but rent isn't more than 1000 more per month, no? Car insurance might add 1000/year also, but still not getting it. Too many expenses like a car, etc? We get by just fine on half that (50K), and still get to save for retirement and extra savings. NC income taxes are just about as high as MD too. We cook our own meals, have a cheap mobile plan, and only have internet/basic cable. Are you folks going out to eat a lot? Right there can cause you to dump 5-10K/year extra. Might also be gas prices taking a bit out of the budget. I did the numbers and it seems like we'd do fine with that amount you two are making.

[OptimusPrime69]

Originally Posted by pgtitans

General rule of thumb, how much you make doesn't have any importance if you have debt. If you have any type of debt then it will hinder what you would normally be able to get at that salary. So with that said, do you have any debt?

Not going to lie, with the exception of College Park and maybe Hyattsville, PG County isn't a place where you would have much of a night life for a single professional. You may have to sacrifice a few things but it depends on what you can afford.

Yes, fml.....I have debt.
I have a car note of $370/month
student loans of about $150/month

Car note will be paid in 2013...so a little less than a year left.

dang, this is kind of disappointing. I felt that at 28, I would be done with the whole "roommate thing" ....I did the roommate thing since I was 18.....now 10 years on, im so ready for a place of my own, but it doesn't sound likely in the DC area. . .. I can afford about $1100/month, but literally everything im seeing in that price range is borderline delapidated.... or in some crap area or some 300 ft studio.

ugh!!!! I need like $90k a year just to get by danng.

[levainville]

Originally Posted by OptimusPrime69

dang, this is kind of disappointing. I felt that at 28, I would be done with the whole "roommate thing" ....I did the roommate thing since I was 18.....now 10 years on, im so ready for a place of my own, but it doesn't sound likely in the DC area. . .. I can afford about $1100/month, but literally everything im seeing in that price range is borderline delapidated.... or in some crap area or some 300 ft studio.

ugh!!!! I need like $90k a year just to get by danng.

if it makes you feel any better, I'm in the same boat. I was thinking I'd be able to live on my own since I'm finally *making* money, and I thought I'd be making good money, but it can't compete apparently, at least not in DC

[goldenage1]

Originally Posted by OptimusPrime69

ugh!!!! I need like $90k a year just to get by danng.

Or, find a wife or partner making the same amount of money!

[jacrawf]

Originally Posted by saigafreak

I don't get it. How can making six figures, even in DC, cause a married couple to choke financially? Here in Raleigh (where I'm moving from), mortgage + taxes + insurance are only 900, but rent isn't more than 1000 more per month, no? Car insurance might add 1000/year also, but still not getting it. Too many expenses like a car, etc? We get by just fine on half that (50K), and still get to save for retirement and extra savings. NC income taxes are just about as high as MD too. We cook our own meals, have a cheap mobile plan, and only have internet/basic cable. Are you folks going out to eat a lot? Right there can cause you to dump 5-10K/year extra. Might also be gas prices taking a bit out of the budget. I did the numbers and it seems like we'd do fine with that amount you two are making.

If you only have liability on your vehicle or are older with no accidents, then sure you can probably get $1000/year car insurance. But I'm 30 with no accidents and don't have a fancy car (a toyota matrix!) and my car insurance is closer to $1500/year.

Rent for $1000/month? Well, sure if you're sharing a 2 or 3BR apt with someone or renting a room in a house. If you want your own place, be prepared to spend a lot more than that on a tiny apartment that doesn't even include utilities or parking.

Sure, what you say is true for where you live. But not here. So maybe you should redo the numbers. Unless you buy your house in cash, where exactly in the DC metro area will you find any place to purchase, let alone rent, for anywhere near $900/month? Post it up and let's take a look.

People fresh out of college can make around 50k here. There's a reason for that.