Budget Question: max you'd spend on rent?

[amy]

Take home: $3,400

Fixed expenses aside from housing: about $800

That includes:
cell
cable
electric
car insurance
student loan

etc

For one person, no children.

How much would you be comfortable spending on housing?

[quickstepstar]

no more than 1K

[Deleted]

$850-900

[Deleted]

$1200, max, but ideally under $1000.

[SJ]

Aug 20, 2012 13:16:37 GMT -5 @iheartcosmos said:

$1200, max, but ideally under $1000.

This was my thinking as well.

[Deleted]

COL affects my answer.

LCOL - $600-700/mo
MCOL - $850-950. maybe $1,000 if it seemed like a nice enough place.
HCOL - $1,000-1,200 max.

[bliss]

Aug 20, 2012 13:18:09 GMT -5 SJ said:

Aug 20, 2012 13:16:37 GMT -5 @iheartcosmos said:

$1200, max, but ideally under $1000.

This was my thinking as well.

This. About 30% which is what I was told as well. I'm trying to stick closer to 28% though.

[anna7602]

I would really go by what market rates are and what amenities I really want or could live without (dishwasher, washer/dryer in unit, proximity to work/other points of interest, etc.) It's hard to just say spend x without having any idea of what going rates are in the city in question.

[amy]

It's MCOL.

This would be to live in the heart of the city, so that would be a plus.

It's $1350 though, which is probably too high.

[raangoli]

Aug 20, 2012 13:18:51 GMT -5 tacom said:

COL affects my answer.

LCOL - $600-700/mo
MCOL - $850-950. maybe $1,000 if it seemed like a nice enough place.
HCOL - $1,000-1,200 max.

This seems about right.

[fbf2006]

Aug 20, 2012 13:26:51 GMT -5 amy said:

It's MCOL.

This would be to live in the heart of the city, so that would be a plus.

It's $1350 though, which is probably too high.

I personally wouldn't spend $1,350. I pay that now living in a 1 bedroom in a pretty good area in Queens and our income is much more than that. Do you have to be in the heart of the city? The most I'd do is $1,200.

[sillygoosegirl]

We spent $1000/month in rent on about that take home income. It felt pretty tight, but then again, I was also trying to max out Roth IRAs for two people. I would consider rent of $1300/month on that income if the location is so good that you can give up car ownership.

[Deleted]

You could make $1350 work, but my experience has been that living in the heart of the city means more spontaneous going out, which means we spend more money. Can you find something else that's cheaper? Would you consider a studio since it's just you?

[mayflowers22]

No more than $1,200

[Deleted]

I paid $1250 when I lived in Queens on about that much.

It was fine.

[heygrey]

around $1000.

[Kore]

I'd be comfortable with $1350. Even if your fixed expenses went up to $1000, you'll still have over $1000 left every month for savings & fun.