I am planning to rent an apartment when I graduate, and I am trying to figure out my price range.
2006-09-20 17:28:10 · 7 answers · asked by heidi_stew 1 in Business & Finance ➔ Personal Finance
The experts say 28-33% although with the high housing costs now many people end up having to devote more of their income to it than that. Good luck with finding a nice place and just take the time to look around and I'm sure you'll find something in your price range.
2006-09-20 17:31:14 · answer #1 · answered by jljdc 4 · 3⤊ 0⤋
I think it depends on how much is your salary a month and how much your cost of living a month excluding for rent.For a simple way of living I think you should devote your monthly salary for rent is about 20 % to 30%.You must make a good financial plan for one year to come how much will be your income and how much your monthly living cost.You must plan to set aside part of your income for saving and if you have a good income for investing.too.
2006-09-20 18:57:38 · answer #2 · answered by ? 7 · 0⤊ 0⤋
Well, I have a two bedroom apt. in Ft. Smith, AR and it runs $350 per month (water and trash included). Of course, Ft. Smith only has about 80,000 people so a larger town will probably cost more. Oh, and when I lived in Pocatello, Idaho, I paid $325 for a very large one bedroom.
2006-09-20 17:37:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The rule of thumb used to be 25 % of one persons wages. Unfortunately these days it costs alot more. Why not work out payments you have now - phones, transport, medical, plus food and see what you have left to pay rent (and still have a life).
2006-09-20 17:53:16 · answer #4 · answered by obenypopstar 4 · 0⤊ 0⤋
epect at least 500 too six hindred dollarss one bedrom plus and the water is no longer a- option in somme cases!! plus utilities around, 1,000 with cable phone water gas electricc!1 moving up too a 2 bedrom?/ hmm aroound 700 plus!!
2006-09-20 17:32:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋
US average is 20-35%
2006-09-20 17:31:48 · answer #6 · answered by mumbles_75 2 · 1⤊ 0⤋
Your TDS = Todal Debt Service Ratio
This is your PITH + 50% of condominium fees or: Property/Insurance/Taxes & Heat
This should be equivalent to 32% of your income to TDS ratio
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Yours GDS = PITH + 50% condo fees + other monthly payments such as car loan, credit card payments etc. ((does not include car insurance etc.))
This ratio should equal to 40%
Good luck!
2006-09-20 17:35:16 · answer #7 · answered by toronto_guy77 2 · 0⤊ 0⤋