How Much Money Should I Spend On An Apartment?

Why are 1 bedroom apartments so expensive?

“Across the whole housing stock, it could be that one-bedrooms are more expensive because they’re in more attractive parts of town.” …

“In the middle of the country, land is pretty cheap and space is pretty cheap, so you’re more likely to have housing stock with two-bedrooms,” said Olsen..

Is living downtown worth it?

Sadness about missing out is definitely more severe for people who live downtown. So, is the downtown life worth it? You might be poor; you might be tired and you might be claustrophobic, but yes, it’s totally worth it.

Is paying more for a nicer apartment worth it?

Most apartment leases are for an extended term, like six months, a year, two years, or even longer. But if you’re only planning on living for a short period of time, a luxury apartment could be worth the money. The bottom-line costs will be lower, and you’ll be more comfortable during your temporary stay in a city.

Can you afford an apartment making 12 an hour?

Soooo $12.00 per hour X 40 hours = $480 gross money per week. … So you can afford a rent payment between $120 and $168 per week. To figure the monthly cost take $120 or $168 and mult. I’m assuming you work a 40 hour week.

How much money should I budget for fun?

Most financial experts suggest you allocate around 5% of your budget to fun money, but that number can change depending on your situation. For instance, if you’re a recent college grad in a low paying job with student loan debt and rent to pay, you may have less to spend on entertainment.