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Since this is specifically about being frugal, and not just about "how high can I afford", I would definitely try to keep it under 25% of net, and if that proves impossible for your area, accept that you aren't in an especially frugal-friendly rental market, and shoot for under 25% of gross.
I'm not a renter, but I know what my house would rent for in my local market, and it would be about 22.5% of my net income, or about 16.3% of my gross.
I net around $4K/month. My rent is only $533. I LOVE having the extra money rolling in. I have 5 roommates and after utilities my total housing bills are around $600-$615. I would suggest you find out where you want to live, location is key. Then just try and find the cheapest place from there that meets your standards.
If you want to make a smart move at your age. I suggest roommates.
I once netted around $2.4K and had a $750 rent bill. Its much nicer at its current rate.
I net around $4K/month. My rent is only $533. I LOVE having the extra money rolling in. I have 5 roommates and after utilities my total housing bills are around $600-$615. I would suggest you find out where you want to live, location is key. Then just try and find the cheapest place from there that meets your standards.
If you want to make a smart move at your age. I suggest roommates.
I once netted around $2.4K and had a $750 rent bill. Its much nicer at its current rate.
I have two roommates (kids), five if you count the dog. No one contributes.
Also, if your job isn't very stable (or you think you're about to be laid off or fired), I'd move to the cheapest place I can stand to live. If you lose your job and are stuck with a high monthly rent, you will have trouble moving to a lower rent place due to your lack of income, just when you need it the most.
no more than 25% of gross
you can elect to get by on less and I would encourage that...
but on the basis of affordability up to 30% including utilities etc works.
no more than 25% of gross
you can elect to get by on less and I would encourage that...
but on the basis of affordability up to 30% including utilities etc works.
why would someone use gross income rather than net? i would think net would be a better number since that is the money you will actually have to spend. gross is just a fictitious number that you wish you would have to spend.
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