Here's how much a family needs to earn to live comfortably in San Francisco while still saving money
San Francisco's sunny skies don't come cheap — in general, the total cost of living is 62.6% higher than the US average.
Research engine FindTheHome crunched some numbers to determine what it takes for a family to live a secure, yet modest, lifestyle in the San Francisco metro area.
SEE ALSO:France fined someone $8,000 for writing a bad review of an unopened restaurant
It then analyzed the data in San Francisco to determine a suggested household take-home income to live comfortably using the "50-30-20 rule" of personal finance, meaning 50% of after-tax, take-home pay goes to necessities (such as housing, food, childcare, healthcare, and transportation), 30% toward discretionary spending, and 20% toward saving.
SEE ALSO: Walgreens, Rite Aid combo to spread drugstore health kick
Here's what the analysts came up with for a family of four:
- Estimated cost of annual necessities: $76,776
- Suggested annual discretionary spending: $46,066
- Suggested annual savings: $30,710
- Suggested annual take-home income: $153,552
Note that the estimated cost of annual necessities represents data for the San Francisco metro area, which encompasses more than just the city of San Francisco. You will need to budget more for rent if you're living in the heart of the city, where the average rent for a two bedroom apartment is just under $4,000 per month.
Scroll over the graphic for monthly cost estimates.
- A Google employee living in a truck in the company parking lot is saving 90% of his income — here's what he does with that money
- A Google employee lives in a truck in the company's parking lot — here's what his family and friends think
- Here's how much a family needs to earn to live comfortably in New York City while still saving money