Can I live off $35K in Midtown? (Atlanta: insurance, condo)

[ja1myn]

Originally Posted by noah

Midtown in general is as walkable as you will find in Atlanta. You'll be able to walk to get groceries, go to the park, bars, restaurants etc

Perfect!

Originally Posted by ATL Golfer

You could do it if you lived next to your job. Pinched pennies on eating. Didn't have a car.

Well a 30 minute commute 5 days a week isn't bad, right?

Originally Posted by rcsteiner

As a salaried employee for the past 23 years, I've almost always been paid bimonthly. One paycheck on the 1st of the month, and one on the 15th.

Doesn't it all depend on his actual paycheck pattern?

Isn't that biweekly, not bimonthly?

Originally Posted by DaBurgh

Live off - yes

Live - no

So I'll aim for $50K?

[Mirabella]

Why not aim to be the "roommate" first then figure out what specific areas of town you like and can afford?

[rcsteiner]

Originally Posted by ja1myn

Isn't that biweekly, not bimonthly?

Biweekly is every two weeks. 26 paychecks per year. My pattern is 24.

[NativeJr]

Another way to calculate the percentage of income for rent is:

$35,000 X 30% = $10,500 year of income for housing

$10,500 / 12 months = $875 for housing per month

[ja1myn]

Originally Posted by Mirabella

Why not aim to be the "roommate" first then figure out what specific areas of town you like and can afford?

Yeah I tried out the whole room mate thing and I will never do that again. If I have to go hungry to save money but live in my own place, I'll do it. Between my own business and this job that seems like an exciting new adventure, I think I can make it work. I was just wondering what would be the minimum amount I'd need to live in Midtown comfortably and $50K seems like the number.

[residinghere2007]

Honestly I think it is perfectly do-able as long as you find a place that is under $900 a month. I lived in Buckhead and Midtown on much less and even though this was years ago, rents really aren't all that much different than back then, most places are actually cheaper now.

But this is coming from someone who didn't have a car back then most of the time (when I did, I didn't finance it, I still don't finance cars because I see it as a waste of money). I also don't have any debt and am pretty frugal and am low maintenance in regards to fashion and going out and such (plus I am a lady so usually when I did go out I got in via "ladies nights" and got free drinks from men buying them from me LOL, so I understand that single guys spend more money than a single lady if they are dating).

I could easily live off of $35K in pretty much any area of Atlanta (if I was a single person) because you can always find a decent affordable place in the nicer areas like Midtown, Buckhead, or VA HI and others. I do agree though to watch for utilities, those can break you. I lived in an apartment once that was not all electric and ended up moving out of that place due to the gas bills being more than half my rent per month just for cooking and hot water (had electric heat). I would get an all electric apartment and ask about utility averages and if they include any utilities, most when I was renting included water, but that started to change before we bought our house. Last apartment I lived at in a ritzier area was in Vinings and when we went to renew our lease for a second year they said we were going to have to start paying a water bill. We moved instead of paying a water bill.

[bryantm3]

Originally Posted by berkeleylake

For 30K, you need roommates, probably 2 to live in a decent apartment in midtown.

yes

I think 40K minimum gross is just enough to live here alone intown, given there are no other huge financial obligations and being strict on a budget.

no.

you can be at pretty much any income level and find a place to live in town. midtown? probably not. but kirkwood, edgewood, east atlanta, westside village, home park— there are tons of options for middle and lower income individuals. just because you don't make a ton of cash doesn't mean you're excluded from living in town.

[rcsteiner]

Originally Posted by rcsteiner

Biweekly is every two weeks. 26 paychecks per year. My pattern is 24.

Not meaning to quote myself, but my wife's paycheck is the other (biweekly) pattern. The combination of the two (bimonthly/semimonthly and biweekly) make life interesting when it comes to budgeting...

[shivtim]

You just have to get lucky. I know someone paying under $600 for a one bedroom in Midtown. Sure, that's unusual, but it happens. I think 40K might be a more realistic figure if you don't want roommates. You'll probably be fine with 35K though since you sound thrifty.

[mike7586]

You can find a studio or 1 bedroom apartment for $800-$900 a month in the Midtown/Virginia-Highlands area. Look on craigslist to get an idea of how much apartments go for and you might even find one you like.

You can easily live comfortably in Atlanta making 35K. I know because I did it.