Real cost of living in Minneapolis

[xandrex]

It really depends on where you'll be living. I'm guessing you'll probably NOT be moving into the newer apartment complexes that are typically more high-end. Places like Sydney Hall on East Bank can run as high as $1400/month for a 1 bedroom. Obviously, you'll likely find someplace cheaper, but I just wanted to show that housing very likely could swallow a large chunk of a $1600/month budget.

Also - does this include any school payments? I'm guessing those are NOT included, but if they are, then $1600 is probably low. Otherwise, I think it would likely be fine for the average person.

I do get help with my rent and such from family, but if I price everything out, I probably live for about $800 a month. However I'm living with 4 other people, so my rent is *fairly* low, though utilities are ridiculous.

[uptown_urbanist]

It also depends on what's included. Health insurance is potentially another big cost. If that price just includes rent, utilities, food, transportation, and nights out, then yes, I think it's easily doable, especially if you don't have a car. You'll get a UCard to use on the bus (not sure how much that costs, but it's a good value). I think my brother (grad student at the U) used to pay about $600 for a studio in Uptown, with that price including at least some utilities.

[xandrex]

Originally Posted by uptown_urbanist

If that price just includes rent, utilities, food, transportation, and nights out, then yes, I think it's easily doable, especially if you don't have a car. You'll get a UCard to use on the bus (not sure how much that costs, but it's a good value).

The U-Pass costs $97 a semester. It's really an amazing deal...I'm going to be sad when I have to start paying quite a bit more for bus fares.

[GBCommenter]

I agree it depends a lot on where you want to live. I think you should be able to get by comfortably enough on $1600.00, though keep in mind many apartments want you to show (gross) income of some sort at 3 times rent. In other words, if you will have $1600, your rent should be about $535/month. That's probably low for the market. However, that "rule" isn't hard and fast...sometimes you can get a co-signer to make up the difference and sometimes landlords will go higher if you can show you have no other debt payments (i.e. credit cards, etc.).

If you want to look on campus, I just thought of an online resource you might want to check out. The Minnesota Daily is the University's paper and their online site is News | mndaily.com - Serving the University of Minnesota Community Since 1900. They have listings for apartments that would, theoretically, appeal to U students.

[DaPerpKazoo]

Originally Posted by GBCommenter

I agree it depends a lot on where you want to live. I think you should be able to get by comfortably enough on $1600.00, though keep in mind many apartments want you to show (gross) income of some sort at 3 times rent. In other words, if you will have $1600, your rent should be about $535/month. That's probably low for the market. However, that "rule" isn't hard and fast...sometimes you can get a co-signer to make up the difference and sometimes landlords will go higher if you can show you have no other debt payments (i.e. credit cards, etc.).

If you want to look on campus, I just thought of an online resource you might want to check out. The Minnesota Daily is the University's paper and their online site is News | mndaily.com - Serving the University of Minnesota Community Since 1900. They have listings for apartments that would, theoretically, appeal to U students.

Nearly all places do cosignors, and a lot will work out a deal that will waive the income requirement with student loans or something.