chicagoland apartments

How much rent can you afford?

It depends on how much dough you're bringing in

How much do you earn each year before taxes?

Low End 15%

 

You live more outside of your apartment than in it. You like to go to shows, you spend time at friends’ places, and you eat out a lot. Spending 15% of your gross income on rent will likely allow you to save some money. For your income, this is a below average amount to spend on rent. Remember that this does not take into account any other debts you may have. This is just a suggestion.

Middle of the Road 25%

 

You don't want to be cramped, and you want money left over every month. You strike a balance between being home and going out. 25% is the recommended amount of gross income to spend on rent. Remember that this does not take into account any other debts you may have. This is just a suggestion.

High End 35%

 

A nice home is very important to you. You are willing to live on a steady diet of ramen noodles to live in a sweet place. Some landlords will not even consider you as a potential tenant if your rent is more than 35% of your gross income. Remember that this does not take into account any other debts you may have. This is just a suggestion.