Here's what making $100,000 in Los Angeles 'feels like,' according to new study (2024)

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Here's what making $100,000 in Los Angeles 'feels like,' according to new study? ›

According to a new study from SmartAsset, a $100,000 salary in Los Angeles leaves workers with what "feels like" just $44,623, ranking it among the lowest of nearly 80 cities analyzed by the financial advisory company.

Today it's considered low-income, at least in Los Angeles.

Los Angeles did not make the top ten, ranking #17. Here, a single person needs $110,781 annually or $53.26 in hourly wages to be comfortable, according to the data. For a family of two working adults with two children, a salary of $276,557 is needed. Anaheim and Long Beach also made the list, tying for #14.

In San Francisco, Los Angeles, San Diego, and Oakland, all in California, a $100,000 salary is effectively halved, in terms of what it can afford.

A separate study by Consumer Affairs published last month tabulated the minimum annual income required for a family of four to be considered middle class in each state, and in California, that income is $69,064.

The Share of Income Held by the Richest 1% of Californians Spiked During the Pandemic. Income inequality worsened in the pandemic. The average income of Californians in the top 1% rose from $2.3 million to $3.6 million between 2019 and 2021, while it declined for middle-income Californians, from $46,600 to $46,400.

Number of households in Los Angeles, California by household income 2021. This statistic depicts the number of households in Los Angeles, California in 2021, by household income. In that year, there were 210,615 households with an income of 100,000 to 149,999 U.S. dollars.

$80,000 a year considered 'low-income' in Orange County, $70,000 in Los Angeles, state report says - ABC7 Los Angeles.

But just how much does a single person in California need to make to live comfortably? A new study from Smart Asset determined that a person must make at least $ 89,190 to get by comfortably.

A $200,000 a year salary is downright middle class if you're living in a big city like San Francisco, Los Angeles, Seattle, New York, Boston, Washington D.C., or San Diego.

How much is 100K a year hourly? ›

$100,000 a year is how much an hour? If you make $100,000 a year, your hourly salary would be $48.08.

Los Angeles and San Diego tied for third on the list. In those two Southern California cities, you'll need a net worth of $3.5 million. Here's a look at the top 10 metro areas with the highest net worths, compared to last year's figures: San Francisco: $4.7 million (down from $5.1 million)

As a rule of thumb, a good salary in Los Angeles is between $100k and $200k gross per year. Based on the cost of living in Los Angeles, this should come down to a minimum of $76,710 yearly after taxes.

When analyzing LA, the study said that the annual take-home pay from $100,000 after taxes is $68,050, but the cost of living is 52.5% higher than the national average. "To calculate the city's adjusted annual take-home pay, we divided the city's average after-tax income by 1.525.

In five California cities, a $100,000 median household income is considered lower-middle class, according to a Feb. 13 analysis from GoBankingRates.

A good salary for a single person in California varies widely depending on location and industry: $50K may be enough in some areas, $100K in others.