It might be that this is where I would have to live, if I get and take Job #1. It is extremely expensive but everything that looks reasonable in that town has hidden costs or if not, is entirely too depressing (as in, I would rather stay here and leave the profession than move there and live in those things). These condos are in actual move-in condition and they are rentals, so there are no secret costs. I would be able to not think about anything, just start work. There are very great advantages to this.
I have never paid $1250 in rent. It seems ridiculous. If I pay that much in rent, and pay on old bills, and possibly continue to pay my mortgage, utilities and home maintenance here, then realistically speaking I could be looking at as much as $3,000 in rent, utilities, mortgage, and home maintenance. I am overshooting, of course, to take care of repair possibilities — anything left would go to other unexpected things, car repair, dentists, things like this, or if not, travel.
Then I might want another $2,000 to spend, perhaps. Right now I take home $3,200 or so and it is not enough, I do not make it, but this is because mortgage and back bills take almost half of it. Perhaps I want more than $2,000 to spend, then. Let us be opulent and say I want $3,000 to spend.
I want, then, $6,000 per month to take home. That is $72,000 per year, in take-home pay, which would mean over $100,000 gross. But the most I can get, I suspect, is $78,000. I wonder whether I could ask for a housing supplement. Or for books, conferences, and computers (part of the reason I have no money now is that the university does not pay for these things).
70% of $78,000 is $54,600, which is what I might take home in this state which has no income tax; that divided by 12 is $4,550. Since my mortgage is $700 and this rent would be $1250, cost of rent would take up exactly my complete salary increase if I get $78,000. Once I sold this house, or if I could rent it, things would be somewhat easier, but not a great deal easier.
This does mean, though, that I must have a salary that high, to make this proposition viable even marginally. I am glad I have made these calculations.