How comfortably can a family of four live in silicon valley on a single income of $150-160k/year?
May 10, 2012 5:13 PM Subscribe
How comfortably can a family of four live in Silicon Valley on a single income of $150-160k/year?
posted by anonymous to Work & Money (43 answers total) 8 users marked this as a favorite
I'm being recruited by a Palo Alto company. While I'm excited for the potential of working for this company, and the other intangibles that exist by living in the valley, I'm intimidated by what I hear about the cost of living.
I currently live in the Southeast US and do pretty well considering the local market. I also own my (modest) home outright. If I had to sell my curent home, to move, I dont think I would get more than $175k for it considering the local housing market.
I made a commitment to my family that we would live within our means so that my wife would never have to work unless she truly wanted to (she doesn't and I'm OK with that).
Before I expend the company's(as well as my own) time and money to fly out and interview for this position, I need to consider whether or not this relocation is worth it. I'm currently working for a great company with terrific pay and awesome benefits and am not actively looking for new work. The only reason I would consider this company is #1 they're amazing and #2 they would relocate my family.
The allure of the valley is very, very enticing considering I don't live in an area with a strong tech scene. Additionally, considering my background and my skillset, finding work has never really be an issue - I'm fortunate that what I do is currently in very high demand. However, I don't want to turn down what could be an amazing opportunity.
I question how sustainable living in the area is on a single income of about $150k. I'd like to understand more about home ownership, schools, etc. I'm unfamiliar with the area. Is it ethical to be flown to the interview knowing I have doubts about comfortably living there?