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Reply to "What income is needed to live the american dream - close in DC area?"
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[quote=Anonymous]It depends on when you bought. If you’re starting out today (so buying a house close in, starting to have 2-3 kids, etc) I’d say $500K ish if you want to stick to the Arlington’s / Bethesda’s of the area and maybe $300-400K if you’re fine with Silver Spring etc. Our PITI on a $785K mortgage is $6200. If you somehow get an infant care spot at a center it’s $2500-3000 / kid. If not, nanny or au pair or in home daycare it is. Then add in saving for college for 2-3 kids and taxes which really start to hurt at these income levels. Good luck. [/quote]
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