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@cw2 buying something also requires a 10-20% down payment and the cheapest you could find a place in NYC would probably be around 400k. I spend a lot on rent because living alone in a place I like being in is something I value.
Who tf has 20k? God I hate when people tell me to “just buy a place!” Just mind ya business
Super doable. I pay 2500 on 100k
Sure, but I hope it’s a nice place because you are gonna be spending a lot of time in it when you are broke
Yes, of course you CAN. There will be variables that will determine how comfy your life is tho.
It depends on your other bills, your insurance costs, your 401k contribution, taxes...I make 57.5 in Chicago, pay $1255 in rent, and I’m very comfortable. Making $40k more and only paying $600 more in rent? Yes, obviously doable
Get back to work.
😈
You'll be totally fine.
I know people who make less and pay around that so.... Yes, but to the above point it depends on what you need to be comfy
Without student loans, yeah. But it wouldn't be a very comfortable life, especially if you like to go out.
So 1800 definitely the smarter move
@SRC 1 - do you feel like you can still save a bit? Or just pay check to paycheck?
I was paying $2300 on a $95k salary in LA. It was hard, but it was doable. Basically one of my paychecks went entirely to rent per month. If you don't have to do it, don't, but you also won't only stay in your apartment eating ramen if you're concerned about that.
I'm not currently saving, but I had savings built up before I moved out of roommate situations that I haven't had to touch. I also haven't scaled back my life at all.
General rule of thumb is that your rent shouldn't be more than 1/3 of your paycheck
Why would you waste that kind of money on rent? You’re not going to save a dime.
Just buy something if you’re looking to spend that kind of dough.
FWIW, I make $90,000 and spend $975 on rent.
Nah, you can find a 5% down payment. I’ve seen them in Brooklyn.
That’s $20,000 (on a $400k unit).
Seems a whole lot smarter than wasting all of your money on rent (and saving nothing).
Yes, I did it and still had a social life. Not that hard.