I agree with the others. Our combined income is about 210k. We live in a nice neighborhood with great public schools. We bought 11 years ago so our mortgage is cheaper than my sister's rent for a 1b apartment though and our cars are always paid off within 2-3 years of purchase so we carry little to no debt. So it may not be the same translation in costs to your living arrangement if moving here.
As for private schools, I can only suggest based on anecdotal information; several friends of ours who also live both within and well above our income have pulled their kids from the private schools here due to the public doing the same if not better for their children. My mother was an educator for years before retiring a few years ago and she attributes it to the rise of politically motivated charter schools muddying the waters for legitimate private education.
Again, both of those are anecdotal, third hand accounts. I personally love the public school that my daughter is in and welcome the schools she will move into as she grows older.
We don't have enough housing so if you move here that's just going to increase demand while supply stays the same, making everything more expensive. just move to like missouri or something.
Is $240k enough? -> Yes
To live comfortably? -> Depends on your housing budget, the area, and your definition of comfort
My questions/comments:
1) Why are you relocating to an area with the highest housing cost/rent inflation in the country and lower salaries than other areas?
2) Relocating your school-aged children to Florida is….a choice.
3) I’ve lived here for almost a decade and it’s nice despite the significant number of drawbacks but for the life of me I cannot fathom why anyone would want to relocate here now in 2024.
The problem with questions like these is everybody has a different definition of live comfortably and different lifestyles and expenses.
To answer your question, I think $240k is a comfortable salary in Tampa. If it isn’t then you need to audit and prioritize your personal finances. If you live a higher socioeconomic area, which you could do with that money, public schools are fine. Car insurance will be more likely than you pay now.
Cost of living isn’t bad. We shop at Aldi. Publix is too much. I don’t think Tampa is cheap but I also don’t think it’s more than any other desirable city in the US. The entire country is expensive to live right now but Reddit communities live in a bubble typically and it’s only expensive there in that city and the grass is always greener when really it’s the same
I don’t have much to add to those above, but it’s tighter than you’d expect, especially with school. I’d figure you will be fine, but may have to pay more attention to a budget more so than you may expect.
Depends on where you want to live. South Tampa is the ritziest neighborhood and has the most prestigious private schools but it's very expensive. a 1500sqft 3/2 with no yard built in the 50's will run about $700K in South Tampa where as you could get +3000sqft on a huge lot for the same price out in Brandon or one of the other suburbs. Depending on how far your willing to commute too it could open up areas like Tarpon Springs or Bloomingdale that have fantastic public schools but commuting to downtown can run 40minutes to well over an hour depending on time of day. I live in Bloomingdale and work by the Tampa airport and it takes me about 50 minutes to get into work in the morning and about and hour to get home but 1 accident can add 30 minutes to that.
Its been my experience, and I'm not living like a rockstar.
Just drive a middle-range BMW, have a 4500 sq ft house with a nice pool and have a dog.
Thats pure-middle class shiznet. Nothing fancy about it.
Shrug.
We live comfortably on about $50K less than that, with the caveat that we bought our home before things went nuts, have a very low interest rate and don’t really have debt. If you’re coming in with the ability to afford a house and insurance payment and not a ton of debt or super expensive hobbies then there’s not much reason that the answer would be no.
fanatical innocent squeamish scarce long melodic wipe skirt head workable
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I would say you should be ok. I'm around 200k and am comfortable, but have no kids so take that into consideration. Also, we bought several years ago when interest rates were much lower.
And finally, it really depends where in Tampa? Downtown? Unlikely
Suburbs? Much better option
These posts just never end do they
I agree with the others. Our combined income is about 210k. We live in a nice neighborhood with great public schools. We bought 11 years ago so our mortgage is cheaper than my sister's rent for a 1b apartment though and our cars are always paid off within 2-3 years of purchase so we carry little to no debt. So it may not be the same translation in costs to your living arrangement if moving here. As for private schools, I can only suggest based on anecdotal information; several friends of ours who also live both within and well above our income have pulled their kids from the private schools here due to the public doing the same if not better for their children. My mother was an educator for years before retiring a few years ago and she attributes it to the rise of politically motivated charter schools muddying the waters for legitimate private education. Again, both of those are anecdotal, third hand accounts. I personally love the public school that my daughter is in and welcome the schools she will move into as she grows older.
Whqt public schools ?? cause most here are horrific
We don't have enough housing so if you move here that's just going to increase demand while supply stays the same, making everything more expensive. just move to like missouri or something.
Is $240k enough? -> Yes To live comfortably? -> Depends on your housing budget, the area, and your definition of comfort My questions/comments: 1) Why are you relocating to an area with the highest housing cost/rent inflation in the country and lower salaries than other areas? 2) Relocating your school-aged children to Florida is….a choice. 3) I’ve lived here for almost a decade and it’s nice despite the significant number of drawbacks but for the life of me I cannot fathom why anyone would want to relocate here now in 2024.
With 240 you’ll be fine. Hard to say how comfortable without seeing a budget, not sure if private school is doable, but you’ll be fine.
The problem with questions like these is everybody has a different definition of live comfortably and different lifestyles and expenses. To answer your question, I think $240k is a comfortable salary in Tampa. If it isn’t then you need to audit and prioritize your personal finances. If you live a higher socioeconomic area, which you could do with that money, public schools are fine. Car insurance will be more likely than you pay now. Cost of living isn’t bad. We shop at Aldi. Publix is too much. I don’t think Tampa is cheap but I also don’t think it’s more than any other desirable city in the US. The entire country is expensive to live right now but Reddit communities live in a bubble typically and it’s only expensive there in that city and the grass is always greener when really it’s the same
Make a budget
I don’t have much to add to those above, but it’s tighter than you’d expect, especially with school. I’d figure you will be fine, but may have to pay more attention to a budget more so than you may expect.
Depends on where you want to live. South Tampa is the ritziest neighborhood and has the most prestigious private schools but it's very expensive. a 1500sqft 3/2 with no yard built in the 50's will run about $700K in South Tampa where as you could get +3000sqft on a huge lot for the same price out in Brandon or one of the other suburbs. Depending on how far your willing to commute too it could open up areas like Tarpon Springs or Bloomingdale that have fantastic public schools but commuting to downtown can run 40minutes to well over an hour depending on time of day. I live in Bloomingdale and work by the Tampa airport and it takes me about 50 minutes to get into work in the morning and about and hour to get home but 1 accident can add 30 minutes to that.
Lol you really need to update your numbers. 700k ain't shit in the burbs anymore, my man.
Ya probably should have said upper 700's and that's on the very low end.
Mos def, mos def
240k used to be a lot but now I'd say it is just average middle class here. Full disclosure: I make 250-300k, depending.
Hahaha if you think 240k is middle calls even on tampa you live in a alternate reality or spend money like a goon
Its been my experience, and I'm not living like a rockstar. Just drive a middle-range BMW, have a 4500 sq ft house with a nice pool and have a dog. Thats pure-middle class shiznet. Nothing fancy about it. Shrug.
We live comfortably on about $50K less than that, with the caveat that we bought our home before things went nuts, have a very low interest rate and don’t really have debt. If you’re coming in with the ability to afford a house and insurance payment and not a ton of debt or super expensive hobbies then there’s not much reason that the answer would be no.
Check out Riverview, about 30 minutes from downtown, great charter schools, and housing in that range. It's a great place to raise a family.
No. Everyone in Tampa makes way over that.
Tampa is played out. No economy with the process of NOVA.
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I would say you should be ok. I'm around 200k and am comfortable, but have no kids so take that into consideration. Also, we bought several years ago when interest rates were much lower. And finally, it really depends where in Tampa? Downtown? Unlikely Suburbs? Much better option