Another question that depends on where you live. If you’re someone who dreams of working in silicon valley, 50K a year may only get you a tiny closet to crash in, while in other areas of the country this kind of salary would be considered quite lavish and would buy a much more comfortable apartment or home. On average, most people earning 50K a year can afford to rent properties around the $1250 mark, and won’t be able to afford places that cost much more than that as this will start to leave too little left per month for other essential expenses.