how much can i afford to get an apartment ? Does anyone know the max amount i could afford (rent)? I will be living by myself with no pets or kids.
2007-07-13 13:25:13 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I make $20,000 a year.
2007-07-13 13:25:38 · update #1
$350 to $400 maybe. You shouldn't really spend more than 33% of your income on your rent.
2007-07-13 14:03:15 · answer #1 · answered by Luv2Answer 7 · 0⤊ 0⤋
So your take home is about $300 a week Instead of the actual of 4.3 per month lets figure on just 4 weeks or 1200 a month. Electric most $60 a month (this is if you find a place with heat included) Cable $40, internet $30 food (if you eat in) $200 Car payment ? Car insurance ? Too many variables without enough information to make a call on this
2007-07-13 20:40:04 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
It is recommended that your rent bill not exceed 25% of your monthly take-home pay. I am betting that your take home pay is about $1,333/month. That means a rent payment of $333 is appropriate. Wow, I hope you live in a low cost-of-living area!
2007-07-13 22:51:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
the max is 40% with utilities included....
so about $8000/year, if you want to keep it somewhat affordable
2007-07-13 20:28:09 · answer #4 · answered by Anonymous · 0⤊ 1⤋
If you spend 25% (or less) of your income on housing, you will never have to struggle.
2007-07-13 21:09:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋