Is 125k Salary good to live in Dallas or Houston for a family of 4?
I grew up in Dallas and continue to spend at least 2 months of my year in Dallas given my family lives there. The cost of living is shockingly low compared to most major cities that people think about (Austin, New York, anywhere in Cali, Denver, etc.), so I do believe a 125k salary is more than enough to live a comfortable life with some luxuries while still saving up enough for retirement. The further you go into the suburbs, the cheaper it gets. Dallas is huge, so the suburbs are also nice and constantly developing. I grew up in a family of 5 with a variable income as low as 60k and as high as 150k. I never felt anything short of middle class/well off, and I lived a pretty comfortable life during that time. I think what might shock you the most is property taxes if you are not from Texas. They are sky high in Texas given there is no state income tax. Cost of Living in Dallas
Is $ 90K per annum a good salary in Dallas, Texas?
Broadly speaking if you can spend only 1/2 of your salary for rental, and save other HALF for transportation, groceries, recreation, apparel and utilities then it’s likely you can live comfortably.Being said that below is rental rates of Dallas vs New York from World Cost of Living spreadsheet (crowdsourced data)Your standard of living is what really comes into play. 'Good salary' can have a lot of variables like number of dependents, lifestyle, daily expenditures etc and what you manage to save, eventually. Moreover, salaries can vary greatly due to company, location, industry, experience and benefits.Use the World Cost of Living Calculator spreadsheet to get the best estimate according to your own spending pattern not a stranger spending pattern. Items include in this calculation are accommodation, transportation, groceries, recreation, apparel and utilities. It calculates based on your own lifestyle spending not generic spending.Reference/download : World Cost of Living spreadsheet (crowdsourced data)
Is $95K annual salary good in Dallas, Texas for a family of 3 (2 Adults and a newborn)?
Your standard of living is what really comes into play. 'Good salary' can have a lot of variables like number of dependents, lifestyle, daily expenditures etc and what you manage to save, eventually. Moreover, salaries can vary greatly due to company, location, industry, experience and benefits.Broadly speaking if you can spend only 1/2 of your salary for rental, and save other HALF for transportation, groceries, recreation, apparel and utilities then it’s likely you can live comfortably.Being said that below is rental rates of Dallas vs New York from World Cost of Living spreadsheet (crowdsourced data)Use the World Cost of Living Calculator spreadsheet to get the best estimate according to your own spending pattern not a stranger spending pattern. Items include in this calculation are accommodation, transportation, groceries, recreation, apparel and utilities. It calculates based on your own lifestyle spending not generic spending.Reference/download : World Cost of Living spreadsheet (crowdsourced data)
Is $80,000 a good salary in the USA?
Quoting Jay Z: “More Money More Problems”I’m tired and still wired, so forgive me.Seriously, what City and State?It makes a UUUGE difference!80K in NYC = You can afford dinner once in a while- if your lucky. You probably will have to have roommates to live in NYC on that salary.80K in TN/OK/KY/AZ and many other states is really a decent living wage.You know: home, car, vacation once a year and a mortgage until your 80-“The American Dream”
What are the pros and cons of living in Frisco, TX?
All three of these towns would be a great choice. Plano is much larger than the other two. Plano population is estimated at 270,000. McKinney 121,000, and Frisco 103,000. If schools are important to you, Plano has exemplary schools, although the others do have good schools. Plano varies greatly in income and house prices with the newer, more expensive being west of 75. Plano is the only one of the three with public transportation. You may not need it but it brings a population that does. Frisco is a bustling, young suburb with most homes and income about the same. It has the most shopping, but the other two are so close that it's not a problem. McKinney has a more relaxed, country feel, although since it's really starting to grow, a lot of new stores and restaurants are up with more coming. Here are some stats that may help you. If you have any specific questions you can email me - my sister used to rent in Plano and then bought a house in McKinney. Plano - median age of population - 34 median household income $90,000 median price house $220,000 median price rent $1,000 Frisco - median age 31 median income $103,300 median price house $257,000 median price rent $1,150 McKinney - median age 30 median income $85,000 median price house $193,000 median price rent $ 950
Is $ 95k considered a good salary in Austin, Texas for a family of 4?
If you want to live in Austin as opposed to one of the surrounding areas, it'll be tough, especially with kids (aka money pits that you're legally responsible for). The biggest factor is housing is getting very expensive.Let's say you take home 80% of your salary, that gives you ~$6300/month.If you have a family of 4, I'll assume you need 3 bedrooms. The average price (median is a better indicator, but I couldn't find that) is about $400k. Assuming 20%, your mortgage would be $2100 per month. Property tax in Austin is about 2.4%, which is another $800 per month using the value above. Home owners insurance is about $83 per month. So, housing will set you back about $3000 per month.A better option would be living in Round Rock and commuting. Round Rock is relatively close to Austin and is much more affordable. One thing worth noting is that traffic in Austin can be rough. If your job is in South Austin, the commute to Round Rock can be awful. Without traffic, it may be 45 minutes. With traffic, it could be 1.5 hours.
Is a yearly salary of 85-90k fresh out of college generally considered a good salary?
If the 90k is in USD. then that is a great starting salary. That income puts you in the top 31% of household income in the U.S. (And keep in mind, many households have 2+ persons earning salary) So an individual making that much is really well off.My entry level salary starting just last year as a bioprocess engineer was $35/hr (i was independantly contracted so i was paid hourly instead of salary, and i worked about 40-45 hours every week)At its mininimum it came out to 70k USD.So yes it is really high even for engineering.