Can A FM Doc Afford To Own A House In LA?

[warriormonk]

Can your average family medicine doctor afford to own their own home in Los Angeles?

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[VA Hopeful Dr]

What do homes in LA go for these days?

 

[voxveritatisetlucis]

Assuming you mean an actual house and not a condo, then not unless you work in the Midwest or southeast for 10 years and save a lot of money before moving to LA.

 

[sloh]

House should not be over 2x household income. Nice homes in nice school districts are around 2-2.5 million. FM makes around 250-300k in LA. Run the numbers

 

[anonperson]

Can your average family medicine doctor afford to own their own home in Los Angeles?

Where in Los Angeles?

Los Angeles county is huge and goes from the San Fernando valley/Lancaster to Pomona.

Can a family physician afford a house in Brentwood? No. But most physicians can't .

Can they afford a house in San Dimas? Probably.

 

[sloh]

Where in Los Angeles?

Los Angeles county is huge and goes from the San Fernando valley/Lancaster to Pomona.

Can a family physician afford a house in Brentwood? No. But most physicians can't .

Can they afford a house in San Dimas? Probably.

Maybe Inglewood haha. Yikes

 

[Splenda88]

This house is in Pomona.

1901 Harwood Dr, Pomona, CA 91766 | Zillow

1901 Harwood Dr, Pomona CA, is a Single Family home that contains 2623 sq ft and was built in 2015.It contains 5 bedrooms and 4 bathrooms.This home last sold for $835,000 in February 2024. The Zestimate for this Single Family is $862,500, which has increased by $6,965 in the last 30 days.The...

www.zillow.com

An FM doc should be able to afford that

 

[sloh]

This house is in Pomona.

1901 Harwood Dr, Pomona, CA 91766 | Zillow

1901 Harwood Dr, Pomona CA, is a Single Family home that contains 2623 sq ft and was built in 2015.It contains 5 bedrooms and 4 bathrooms.This home last sold for $835,000 in February 2024. The Zestimate for this Single Family is $862,500, which has increased by $6,965 in the last 30 days.The...

www.zillow.com

An FM doc should be able to afford that

You don’t want to live in Pomona. Trust. Might get shot and robbed.

 

[anonperson]

This house is in Pomona.

1901 Harwood Dr, Pomona, CA 91766 | Zillow

1901 Harwood Dr, Pomona CA, is a Single Family home that contains 2623 sq ft and was built in 2015.It contains 5 bedrooms and 4 bathrooms.This home last sold for $835,000 in February 2024. The Zestimate for this Single Family is $862,500, which has increased by $6,965 in the last 30 days.The...

www.zillow.com

An FM doc should be able to afford that

You can find similar priced homes in Diamond Bar, Chino Hills etc which are nicer, safer and have better schools.

 

[voxveritatisetlucis]

1200 square feet is like a condo though

 

[Marcus Brody]

Yes but why would you want to?

 

[HemeOncHopeful19]

I think the bigger problem would be if you own a home in Los Angeles in this scenario how are you also going to afford… basically anything that Los Angeles offers that makes it an attractive place to live? I don’t know myself but I imagine sports tickets, theater tickets, restaurants, whatever would be pretty hard to stretch if you dump everything on a mortgage?

 

[sloh]

I think the bigger problem would be if you own a home in Los Angeles in this scenario how are you also going to afford… basically anything that Los Angeles offers that makes it an attractive place to live? I don’t know myself but I imagine sports tickets, theater tickets, restaurants, whatever would be pretty hard to stretch if you dump everything on a mortgage?

You don’t. I know a lot of FM and hospitalists in SoCal. No real retirement contributions, barely keeping up on the hamster wheel. House? More like condo or house in subpar neighborhood.

 

[Kach]

I own a large beautiful home 30 minutes from LA. This has a lot to do with your profession AND a lot to do with your priorities. I prioritized a house over paying off my loan or buying a car.

 

[Kach]

You can find similar priced homes in Diamond Bar, Chino Hills etc which are nicer, safer and have better schools.

This house is in Pomona.

1901 Harwood Dr, Pomona, CA 91766 | Zillow

1901 Harwood Dr, Pomona CA, is a Single Family home that contains 2623 sq ft and was built in 2015.It contains 5 bedrooms and 4 bathrooms.This home last sold for $835,000 in February 2024. The Zestimate for this Single Family is $862,500, which has increased by $6,965 in the last 30 days.The...

www.zillow.com

An FM doc should be able to afford that

Ummm, stay away from Pomona.

 

[voxveritatisetlucis]

I own a large beautiful home 30 minutes from LA. This has a lot to do with your profession AND a lot to do with your priorities. I prioritized a house over paying off my loan or buying a car.

When did you buy it though?

 

[AlbinoHawk DO]

You don’t want to live in Pomona. Trust. Might get shot and robbed.

I heard this kind of stuff when I was in medical school. I lived in one of these houses at the time. They are safe. No problems at all. Some areas of Pomona are scary, but there are a few areas within Pomona that are decent.

 

[AlbinoHawk DO]

House should not be over 2x household income. Nice homes in nice school districts are around 2-2.5 million. FM makes around 250-300k in LA. Run the numbers

Most clinic-based people I know are making a minimum of 300k working 4 days a week. I would say you can get a 350k job quite easily