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Comment by sh_tinh_hair | Hacker News Reader

In order to afford a decent newer house in the suburban beltway (DC) you need to spend 500k+. That's $2200 a month. Personal property tax on a 3 year old SUV and a new sports car is $2700 yearly. Car insurance is > $300 monthly. Car payments >= $1900 month. (college + personal) Loan repayment = $400 monthly. Food and gas + energy >= $600 monthly. State and federal tax + ss take about 45% of gross.

Upper middle class == ~ 170k a year. Welcome to northern virginia.

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The car numbers jump out at me. The rest sounds familiar but you must have some nice cars to run up those car tax, loan, and insurance bills.

For comparison, a couple of 5 year old Japanese cars run me less than $100/month insurance and around $600/year in property tax in NoVA. No payments because we saved up and paid cash, but if there were, they'd be well under $1,900/month.

> State and federal tax + ss take about 45% of gross.

Even after the mortgage deduction? Have you calculated your effective tax rate? Mine is around 30%, including sales taxes.

I was in Somerville MA, with street parking as the only option. My car had a blue book value of 800 and Geico was charging me 2000/year for bare bones coverage

My situation is extraordinary regarding the mortgage since I can't deduct it: so tax rate is pretty accurate. The sports car is nicer than the average (approaching supercar) and the SUV is categorized as luxury. Not out of the ordinary in this area.

I'm curious why you can't deduct the mortgage payments. Just so far down the amortization curve that it's mostly principle now? Or you're talking about an investment property?

Relationship penalty.

We live in Silver Spring, and between our two kids, we pay ~$2,000/month for private middle school and preschool. Our older one has one more year at his middle school (started there when we lived in an area with pretty crappy public schools), and the younger one finishes preschool this summer. We moved and now pay ~$1,000/month more for a roughly equal house, but better public schools and a better neighborhood. A shorter commute (40 minutes on a good day, but usually 50-60) is a minor side benefit.

I'm really looking forward to the end of paying for school because we can finally get a much-needed new car. Once they're both done, it'll be the equivalent of getting a pretty decent raise.

Pretty sure you could have 2 brand new GTIs for less than $1900/mo. Holy crap, that's a lot of car.

D.C. is definitely a very expensive area. But luxury cars aren't dramatically more expensive here. It is a poor example to cite when discussing the cost of living. On the other hand, It's possible they could be normal cars and very short loans.

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