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Your Questions About Studio Apartments In Boston

June 16, 2013

Jenny asks…

How expensive an apartment should I get if this is my salary? Please help me?

So my annual salary is 32,130, I make $15.75 an hour and work 40 hour weeks.
I live in Boston, Massachusetts USA.

How much should I pay for rent? How much will be taken out from my salary for taxes? I am single with no dependents.
The cheapest apartments here are ~450-700 for one bedroom, ~700-800 for a studio.

Please help I am new to all this, just graduating college : ) Thanks!!

Administrator answers:

Hello Skye,

The idea is to live within your means, and that is to pay for all your expenses, out of the money you have coming in. You have to remember that many apts. Don’t include heat or electricity, not to mention your phone bill, your car, your car insurance, and whatever else you have….credit cards ? Car loan ? School loan ?

A good idea is to add up your total expenses for one month. And then take a typical paycheck stub, and figure the NET AMOUNT x 4 (average 4 weeks/month), or x 2, if you are paid bi-weekly. Subtract your total expenses from your total monthly income. The remainder is what you can afford for rent and food and laundry (if you haven’t figured that in already).

And be careful, when you are apartment hunting. The least expensive place may be a real hole, but with a little extra looking, you may find something safe as well as appealing !!

Good luck with this Honey !!

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