Can I rent a $3,000.00 a month Apartment on 100k Salary?

+1 vote
asked Jun 30, 2017 in Real Estate - Renting by Throvee (130 points)
I earn $100,000.00 per year Salary at my job and want to move into a better Apartment.
I found a great apartment online that I can rent for $3,000.00 per month.
Can I afford a $3,000.00 a month Apartment on 100k Salary?

1 Answer

0 votes
answered Jul 16, 2017 by Wendell (41,840 points)
You possibly could. After you pay your rent you should have around $5,000.00 per month leftover.
But just because you can afford it doesn't mean you should go for the $3,000.00 a month apartment.

You should look around for cheaper apartments if there are any available and save the rest in a savings account.

You should always try to live below your means if possible.

You should always have a good enough of a cash savings in the event you lose your job and income.

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