Is it true that “Self-sufficient level of income in Los Angeles is $70,000 per year?”
By the local cost of rent, by what it takes to commute to work, by the price of food at the local store, by the cost of clothing and healthcare, a family… would need more than $40,000 to make ends meet in Los Angeles. Families with younger children and day-care expenses would need closer to $70,000.
That estimate, called a self-sufficient income, is an emerging measure of economic health seldom used in the calculus of poverty.
Holy crap! :o
[UPDATE: I should clarify that this estimate applies for families. Still, living in LA can be rather expensive!]