$880 is how much people pay for a bedroom in someones else’s house in my city.
*This is mostly because the zoning laws require all new apartment complexes to have one parking space per tenant which means land owners who want to develop their land to provide more density have to put in an underground parking garage on their lot which would make recouping the cost of development pretty much impossible (there’s no room for surface lots). My city is almost entirely zoned this way which creates situations where the university is fully surrounded by single family homes that are “renovated” to provide jury rigged density.
I did not. I calculated rent as 30% of income, the level generally considered affordable. Admittedly it is pre-tax income, so arguably the number is a bit lower, but it’s a start.
Depends on your area.
Edit: working a full 40hr/wk at $17/hr can afford rent up to ~$880/mo.
$880 is how much people pay for a bedroom in someones else’s house in my city.
*This is mostly because the zoning laws require all new apartment complexes to have one parking space per tenant which means land owners who want to develop their land to provide more density have to put in an underground parking garage on their lot which would make recouping the cost of development pretty much impossible (there’s no room for surface lots). My city is almost entirely zoned this way which creates situations where the university is fully surrounded by single family homes that are “renovated” to provide jury rigged density.
Thats something like 50 percent of your pay in my area.
$17/hr can afford ~$880/mo. rent. Not impossible, especially with a roommate or domestic partner.
You forgot about other things like food, probably a car, phone bill.
I did not. I calculated rent as 30% of income, the level generally considered affordable. Admittedly it is pre-tax income, so arguably the number is a bit lower, but it’s a start.
I did it by after tax cause thats how people actually live.