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0730x t1_j31k4au wrote

Reply to comment by TouchPorcelain in Moving to NJ, how is Journal Square? by TouchPorcelain

One rule of thumb is your income should be 40X the rent. I like to save more conservatively and have some extra cash to spend so I would suggest that $1425 should include utilities. Most/many apartments don’t include utilities so budget $100 per month for that.

But remember that $1300 for a bedroom in a 2 or 3 bedroom apartment share will range from somewhat nice to very nice. $1300 for an entire 1BR or even a studio is not likely to be nice at all.

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TouchPorcelain OP t1_j31kgmw wrote

Ah, I see, thats probably a better way to calculate it in a city. Everything I've been seeing has been saying monthly income 3x which would put me at almost $1600 for recommended rent but saving more definitely sounds better. Thank you!

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0730x t1_j31l9or wrote

Realtors around here often go by the 3X rule. That’s because what people want to do with their savings is up to them. 40X is more for NYC. But as a renter myself I had always been more conservative so I can actually build up savings and have some money left over to enjoy the amazing restaurants and bars we have around here.

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moobycow t1_j31s8ks wrote

Depending on if you have a car or not, the calculation can be pushed a bit in the city, as it turns our cars are expensive to own/maintain.

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