What amount of rent can I afford making 13 dollars an hour?
I just got a job making 13 dollars an hour and I'm about to move out of my current roommates' house, I'll be working full time and most 1 bedroom apartments in the area are between 600 and 700 dollars a month, is this feasible for me when factoring in utilities, etc?
Asked By: Mat - 11/14/2010
Best Answer - Chosen by Asker
If you work 40 hours a week * $13 * 52 weeks, you'll make $27,040 per year. This comes to $2,253 per month. If rent costs $650 per month excluding utilities, then you will have $1,603.33 per month to live on. Will that cover all your other expenses? Here is the way you can determine whether that will cover your other... More
Answered By: Sean Roberts - 11/14/2010
Additional Answers (2)
I make the same as you and my rent is $690 per month in my apartment
Answered By: Kelsey - 11/14/2010
general rule of thumb is you have to make 3 times the amount of rent per month. so $13 per hr x 40 hrs per week x 4 weeks a month is $2080 / 3 = $693 you can afford for rent some places you only have to make twice the rent
Answered By: Morales Familee - 11/14/2010
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