{ "media_type": "text", "post_content": "If I’m making 75K this year pre-tax, can I afford $1600/month on rent? Also additional fees like $1000 for a moving company, electric heat, etc. Late to the apartment search this year and there aren’t many options within my price range", "post_id": "60f5a3dfd5eab60021ff385e", "reply_count": 8, "vote_count": 2, "bowl_id": "5ac00aaabeb3210018e4beb1", "bowl_name": "Boston (Consulting)" }

If I’m making 75K this year pre-tax, can I afford $1600/month on rent? Also additional fees like $1000 for a moving company, electric heat, etc. Late to the apartment search this year and there aren’t many options within my price range

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I did 1,550 on 55K. I’d use it as motivation to get your income up. 1K a month for food and basic needs. 1K for investing and a travel fund.

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It’s certainly not ideal but it could be done. Personally, I’d live with roommates and save a few hundred more a month since it’s extra money to save, travel, or go out with.

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Never bank on raises from EY lol

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I did $1700 on $50k with no debt obligations. It wasn’t ideal, but certainly doable. Living close to work and in a nice place was more important to me than saving at the time.

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Obviously there's no one size fits all for this answer. Depending on your 401k contribution, your take-home pay is going to be around $4k/month. So can you afford $1,600/mth for rent? Sure, but what else is going on? Monthly expenses, car payment, student loans, other savings goals? That other bucket is for you to be honest with yourself, budget it out and see if it works

Yeah of course theres unique situations for everyone. I’ve lived at home since college so I could pay off all my loans luckily, but more so just wanted somebody to tell me if $1600 at roughly $3600 monthly take home is outrageous.

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