OT: Question for Stanford fans or others familiar with the Palo Alto area

[UConnChapette]

My son is deciding between job offers. One is in near Seattle, the other is with a company located in Palo Alto. He is doing analysis and comparisons on the cost of living between each area in addition to the compensation offers.

We know apartment rents in Palo Alto are crazy high. But he is willing to live out a little bit, with a 20-30 minute drive (each way) in order to find more affordable rents.

So a question for those who may be familiar with the area. What are other towns in the area where he can look for more affordable rents that will be within 20-30 minute drive and still be in a decent area (nice environment, lower crime, nice well-kept and modern apartments) etc.?

I think he really wants to take the Palo Alto offer, but he doesn't want to live in a tiny studio or have to share an apartment with a bunch of roommates. He would like a large one bedroom apartment or two bedroom that he can rent alone and still have money to live on (and pay back student loans!).

Is there any such place?

Suggestions?

 

[cardfan]

The bay area is definitely a higher cost of living than Seattle. Palo Alto is crazy high rent indeed, and it's only going up like all rents in all bay area. There are some nice areas close to Palo Alto, but rents are not much lower. He can look in Mountain View (home of Google headquarters), Redwood City, San Carlos, which are all 30 min commute, or more, in traffic. Actually a lot of young people just starting out, live in SF and take the train to the Silicon valley (45 min). But again rents are very high in SF too, he would just have more of choice,

I BR will be at least $1,800 in the areas I listed above, including SF. He sould possibly get a studio for $1400 or $1500, but not in Palo Alto. A 2BR will go for at least $2300. Best way to do it is find a friend or two and share a house for rent, or rent a room or in-law house or cottage.

PM me and I can some give some more resources and suggestions.

 

[uconnfan68]

My son is deciding between job offers. One is in near Seattle, the other is with a company located in Palo Alto. He is doing analysis and comparisons on the cost of living between each area in addition to the compensation offers.

We know apartment rents in Palo Alto are crazy high. But he is willing to live out a little bit, with a 20-30 minute drive (each way) in order to find more affordable rents.

So a question for those who may be familiar with the area. What are other towns in the area where he can look for more affordable rents that will be within 20-30 minute drive and still be in a decent area (nice environment, lower crime, nice well-kept and modern apartments) etc.?

I think he really wants to take the Palo Alto offer, but he doesn't want to live in a tiny studio or have to share an apartment with a bunch of roommates. He would like a large one bedroom apartment or two bedroom that he can rent alone and still have money to live on (and pay back student loans!).

Is there any such place?

Suggestions?

My info is quite old, but a friend that lived in San Jose (retired Navy) told me that most young people he worked with had to live about a 90 minutes away, over the ridges to the east of San Jose in the valley. Just not very nice to look forward too, but luckily not much snow and ice. ;^)

 

[bschwartz]

As someone who used to live near there, I'd consider the San Jose area where you could still take the train to Palo Alto. SJ isn't exactly cheap either but there are definitely some reasonable areas that are nice. If it were my son, I'd say take the Bay area job while your single with no attachments. You are going to work like crazy and have a lot of crazy fun too...that scenario bodes better for young and without families. When you are older and have experienced the luxury of living in that area, then you can move to a place like greater Seattle which has a lot of attractive qualities in its own right, but I think more family oriented. IMHO

As an aside, getting off the train and taking the short walk to Stanford's campus is a pretty incredible experience. The street slopes upward and as you get near the top, the campus comes into view. Stunning.

 

[bschwartz]

My info is quite old, but a friend that lived in San Jose (retired Navy) told me that most young people he worked with had to live about a 90 minutes away, over the ridges to the east of San Jose in the valley. Just not very nice to look forward too, but luckily not much snow and ice. ;^)

Another bonus of living near SJ is that Santa Cruz (Ocean) is not that far away. SJ is not a bad option especially if you are in one of the towns a little bit North of there.

 

[CompSci87]

When I was renting and working in Palo Alto, at various times I lived in Mountain View, Menlo Park, and Redwood City -- most recently Redwood City. Redwood City is a good place to look, but some neighborhoods are much nicer than others, so you do have to look around to find a good compromise between cost and neighborhood.

You also may want to consider where in Palo Alto the job is located. I always worked in the north end, so Redwood City and Menlo Park made for shorter commutes than Mountain View.

Happily I can afford to own my own place in Palo Alto now.

 

[Bestiarius]

IMO A nicer apartment is more necessary in Seattle, where it is often raining or cloudy, and being inside is more necessary. The weather is so much better in Palo Alto that one doesn't need to spend as much time indoors, thus a smaller apartment isn't as much of a drawback.

 

[cardfan]

San Jose is definitely more affordable, but traffic to Palo Alto would be even though it is only 15-20 miles, so definitely take the train. Santa Cruz would be fun, but it's a long commute, however many Silicon valley workers do it. He could always carpool.

Seattle is great, but our weather is better.

 

[SFJeff]

Rents in SF are high, no question. But many tech workers opt to live here and commute south to their peninsula companies. One big plus: the larger firms now run shuttles from SF to their offices, thereby lessening the expense and hassles of car commuting and parking for those who wish to avoid that. These companies have realized that they need to go the extra mile, so to speak, as a significant number of their workers prefer to live in the city rather than a suburban environment, especially their younger, single employees. There are several pick-up points just a few blocks from me and it seems to be a popular service.

 

[UConnChapette]

The company is at the corner of Alma St and Hamilton Ave, a couple blocks off University Ave. It is essentially across the street from the edge of Stanford's campus closest to downtown Palo Alto. He did an internship there this past summer, and is working for them part-time over the school year. So he has already had a taste of Palo Alto and area life - and loved it. The salary offered by both companies is in the same range. But the Palo Alto company is head and shoulders above the Seattle-area company in terms of the stock share that is part of the new hire package - potentially up to six times more than the other - fully vested after 5 years. But in the short term, the CA state income tax and high cost of living is the biggest negative in his mind. It is tough to get a 21 year old to look at the big picture as they tend to live in the here and now and not look too far down the road. They want the "good life" now, not 5 years from now!

 

[cardfan]

I agree with you about the big picture. I moved here when I was 25, and if I had his choices, I'd jump at them because having investments and vesting are critical for building a life. It's basically buying power for the next position, i.e., current co. gives him stocks and vesting, therefore, the next co. should do the same, or give more salary to match total package.

Also, factor if either company pays for tuition reimbursement for further training or graduate school. If the options earn over time, it will help a down payment for buying a home, paying of student loans, or just saving for retirement. Imho, get the stock options and vesting opportunities now as that money over time makes up for the higher cost of living and state tax here.

Lastly add that his current company knows him and thought highly of him to extend an offer after the internship. That says a lot. Assume he will continue to perform well and be able build a network for future opportunities at companies in Bay area or Seattle.

Good luck!

 

[wallman]

I always tell my kids and grand kids to start in CA, building any kind of equity and getting used to the cost of living here is easier to do earlier than trying to come back here later. As it probably would be in NY also.