Born and raised here, so I'm used to the shock of high rents. Not ready to leave friends and family just yet either for a lower cost of living area that is too far away to visit them easily, and also shifting career-wise to get into tech and command a higher salary.
My current rent is $980 which includes all utilities = $11,760 per year. It's month to month, a flat with one roommate (separate bedrooms), and we get along well (mutually respective, clean, etc.). I do also contribute evenly to household shared goods like tp, paper towels, etc. Previously I was paying $800 plus utilities (shared) and moved relatively quickly after a break up, so I've only been here a few months.
I was reviewing the reports feature in YNAB and trying to lower my overall expenses. I don't feel like I'm struggling to make this rent (it's about 27% of my take home pay), and for now I'm happy with where I live (close to work, OK neighborhood). But thinking long term, I'm feeling maybe I should try to get something better to speed up my fire date. I'm thinking maybe I'll move if I lose my job (security is shaky as company is being bought right now) with the motive to find lower rent and close to my next work.
Just wondering what other Mustachians feel is a reasonable rent to pay in the Bay Area (either as rent in dollars or as percent of take home pay)? Do I have it good at $980 (including utilities) for my clean, spacious bedroom in a modern condo with compatible roommate, close to current job? Should I look harder if/when I feel inclined to move for a cheaper gem somewhere in my hometown area?
I would appreciate your insights, thanks.