🔺 r/personalfinanceusawAnet·50 days ago
First time living alone.... how much in rent can I afford?
I am moving for a new job in a HCOL city. I am trying to figure out a housing budget as I start apartment searching. So far, I'm seeing that the min. rent for a decent & safe 1BR has been around $2300-$2400. How much rent can I afford? What should be my max budget for rent and utilities? I have: - $33k in HYSA: $20k emergency fund, ~$6k for moving expenses, the rest in other sinking funds (health, travel, large expenses, etc.) - $3k fed. student loan, 4.2% interest. probably will just pay this off soon. - $25k in roth ira here is my anticipated budget: INCOME Pre-tax income: $8,750.00 401k: $350 insurance: 213 Taxes: –$2,345.00 Net Income: $5,841 INVESTING Roth IRA: $625.00 BILLS Spotify: $12.71 Student Loan: $60.00 Amazon Prime: $15.89 Gym: $30.00 Phone: $100.00 Medical: $90.00 Car Insurance: $60.00 Total Bills: $368.60 VARIABLE EXPENSES Gas + Transport: $275.00 Shopping/Fun/Hobbies: $300.00 Eating Out/Dates: $500.00 Groceries: $400.00 Misc.: $200.00 Total: $1,675.00 OTHER SAVINGS Gifts: $100.00 Travel: $200.00 Misc Savings/Budget Buffer: $200.00 Total: $500 REMAINING $5,841 − $625 − $368.60 − $1,675 -$500 = $2,674.40 am I okay to spend up to this amount for housing? submitted…