Is $900 for an apartment reasonable when making $50k?

[Jumpem]

It's a 2 bedroom townhouse, with a garage and washer/dryer inside.

 

[DougK62]

LOL. What do you mean by "reasonable"?

 

[isasir]

Not bad for a 2 bedroom in NY (Assuming NYC area)

 

[BlackAdam]

How much are you paying for your current place? And $900 for 2-bedroom townhouse is pretty damn good in my opinion... but then again, I live in Southern California where a 1-bedroom apartment will run you at minimum that price.

 

[Jumpem]

Originally posted by: DougK62
LOL. What do you mean by "reasonable"?

I meant am I spending too much on a place or not.

 

[Heisenberg]

If you make $50k, $900 for rent is very cheap. What's the rule of thumb? 20% of your income should go toward housing?

 

[Jumpem]

Originally posted by: isasir
Not bad for a 2 bedroom in NY (Assuming NYC area)

Upstate NY... around Syracuse.

 

[Jumpem]

Originally posted by: BlackAdam
How much are you paying for your current place? And $900 for 2-bedroom townhouse is pretty damn good in my opinion... but then again, I live in Southern California where a 1-bedroom apartment will run you at minimum that price.

I'm finishing up my BS right now. I pay $150 to my Gramma, and stay there.

 

[DougK62]

Originally posted by: Jumpem

Originally posted by: DougK62
LOL. What do you mean by "reasonable"?

I meant am I spending too much on a place or not.

No way. People that make $50k generally spend more than $900/month for housing.

 

[Vette73]

A little more information.

Where is it at and how large?

I pay $765 for a 1400sq foot 3bedroom 2 1/2 bath. That is good for Raleigh NC but would be a steal in NY or CA etc...

 

[Queasy]

$900 is very good. Rent out the spare room if you like and it'll be even better.

 

[Cal166]

Originally posted by: Jumpem

Originally posted by: isasir
Not bad for a 2 bedroom in NY (Assuming NYC area)

Upstate NY... around Syracuse.

Very nice price....rent the other room out for $350-400.

 

[NikPreviousAcct]

Nope. Figure 33% taken out for taxes which leaves you with $33,000 per year. Divide by 12 which leaves you $2750 per month. Divide by 1/3 for rent and you get $916. That sounds pretty good to me.

 

[Lola]

thats a pretty ratio

 

[JBT]

I think that is really cheap.

 

[Coquito]

Originally posted by: Queasy
$900 is very good. Rent out the spare room if you like and it'll be even better.

Illegal in NYC. Unless you consider the tenant a "roomate".

 

[Fingolfin269]

I usually figure out 'acceptable' housing cost by figuring out 25% of my monthly take home and try not to go above that if possible.

 

[dabuddha]

It's a good deal. Take it!
How many square feet?

 

[Heisenberg]

Originally posted by: Nik
Nope. Figure 33% taken out for taxes which leaves you with $33,000 per year. Divide by 12 which leaves you $2750 per month. Divide by 1/3 for rent and you get $916. That sounds pretty good to me.

$50k is not in the 33% tax bracket. More like 25%.

 

[maziwanka]

Originally posted by: DougK62
LOL. What do you mean by "reasonable"?

="hell yes"

 

[ravana]

Cool, this thread actually helps me out a little bit in the future!

 

[Jumpem]

Originally posted by: Marlin1975
A little more information.

Where is it at and how large?

I pay $765 for a 1400sq foot 3bedroom 2 1/2 bath. That is good for Raleigh NC but would be a steal in NY or CA etc...

It's in Camillus, NY. I think it was in the 1100-1200sq.ft. range.

It has a grage and storage room on the first level; living room/dining room, kitchen, bathroom, and washer/dryer on second level; and two bedrooms and another bath on the third.

 

[BlackAdam]

Well, remember... try to figure in other stuff like how much you will be paying for electrical, gas, water, etc plus other payments like car and such... see how much you can deal with. Now, paying $150 a month, you have to have a lot of extra spending money... so see what damage it'll do.

 

Didn't you post this before? I'm positive you did.

$900 is the upper range for rental housing in syracuse area. I'm guessing you're looking in camillus or liverpool/salina. I bet I even know the development you're looking at, I looked at the same places in thoes areas.
When you get that high up in rental prices you may want to consider purchasing a house. Money is as cheap as it's going to get for a while.

 

[Jumpem]

Originally posted by: Cal166
Very nice price....rent the other room out for $350-400.

My gf will be moving in eventually. She has a job lined up, but doesn't start until October. So I have to cover everything until then.