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No
I believe the rule of thumb is to keep rent below 25% of net take home pay in order to be comfortable
I make less than half of that and my rents 1.7k
Unless you have high debt balance, 1600 isn’t high at all in my opinion
I make 85K a year and my rent is 1.5K, and I feel like I’m paying way too much....
If you’re in NYC you’re fine
I mean I'm gonna disagree, if you look at the expense and how much time you are actually there, yeah that's a decent chunk of money considering how much value you can extract from it, assuming you travel. Otherwise disregard
Do you really need to spend $1600 alone? We're home about 12 days a month. If lump in overhead $155/day. Are you open to a roommate arrangement? If you're comfortable spending 25% of your take home are you also saving 25%?
These are questions I've tossed around last 6 weeks. Thinking of buying a condo. Cost less for me in the long run.
I second the 25% rule
It's not high relative to your income, but what are you getting for that amount? That's more than my mortgage outside of a HCOL city for a townhouse. To me $1600 feels a bit wasteful if you can find something comparable for $1400, you'd be saving $2400 a year, which could be invested or a chunk of a down payment of you chose to buy.
If it were me, I'd only pay that much if there was a tangible perk over cheaper apartments AND if I valued that at the difference in price. That could be proximity to office or fun. Gym on site. Washer and dryer in unit, etc
Not high at all
Nope.. ball out
1600 all in or just rent?
I make 105 and my rent is 2k in medium COL
If you can pay less, then you should! Try to save as much as possible for retirement
That's what I pay and wish I paid less but I have 3 kids and a wife; they spend all my other money.