Using the 50-30-20 rule for personal budgeting (50 percent of income toward necessary costs like housing and food, 30 percent for "discretionary spending" like entertainment and going out, 20 percent for savings), an Angeleno needs to make $74,371 a year to live "comfortably" in Los Angeles, a study by finance site GOBanking Rates finds.
That's higher than the city's median income by about $24,000, the site says, so that probably means that many Angelenos are living very uncomfortably, unable to save and pay their basic expenses. (The city's median household income is $49,682, according to census data.) The site breaks down the total into $37,185 for those necessities, $22,311 for fun and entertainment, and $14,871 for savings.
It doesn't say how much of that necessities category is devoted toward housing, but it's likely a lot: We already knew that Angelenos are probably putting a dangerous amount of their paychecks toward their rent alone and that LA has a rising number of people who are severely burdened by their rent.
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