If your salary is 70k , what’s the max you would be spending for rent? ( Philadelphia)

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Live on the streets and save your money until you can afford 20% down.

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$1750 max.

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75,000 / 40 = 1750.

I based it on the New York landlord standard of not renting to people who made an annual salary of less than 40 times the monthly rent. Simple, easy formula that’s pretty accurate. If you want more wiggle room I’d do 50 but 40 is the absolute cutoff. If you had a roommate/partner, you could include it. So if each person made $75K, each person’s half would be $1,750 towards a 2-br that is $3,500.

I made 83k at my first post-grad job, and paid ~$1k in rent. That said, you should pay no more than 1/3 of your income ($1950) to accelerate your savings.

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It depends on what other bills you have?

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If you can find roommates you should be able to get a nice-ish place close to center city for less than 1500 per person

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Philly rents are reasonable but make sure you do some diligence on the property. Some of them are quite old

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