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How much it'll cost to rent apartment in Odessa for 1 month?

I make $27,000/year Can I afford $625/month rent on a new apartment? Plus all its utilities?

  • So I just got a new job, its my first job out of college and I make $27,000 a year. Which comes out to about $550/week but I will make $28,000 in two months. I found a one bedroom apartment super close to where I work for $624/month. Utilities usually cost about $25.00/month because some are included in the rent, I have $200 a month in student loans. I'm figuring about $200 a month for groceries and $30 a month for my phone. Which brings me to: $1,079 a month in living costs. Right now I am living at home so I do not pay rent or groceries but I have all of my other bills and I am spending about $450 a month in commuting costs. I also have an old car and the wear and tear of commuting will eventually lead me to having to get a new one, which of course will come along with another monthly payment. I'm wondering if I can afford this apartment. Its really nice and reasonable price for the size and location. But I do not want to think I can afford it and get stuck in hot water as the bills start piling up! Thanks for your input :)

  • Answer:

    Is your salary before or after taxes? Either way you should be able to afford this amount for rent.

Amy at Yahoo! Answers Visit the source

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Yes that is a reasonable cost! And if it gets to be too much you could always get a roommate!

victoria

450 a mo in commuting costs? that is absurd........if you meant to say $45 , that makes more sense

kemperk

what utilities could possibly cost only $25 a month? even if heat is included, electric will run you $50-100+ a month with air conditioning in hot weather and regarding transportation - don't forget car insurance - it won't be on your parent's policy anymore - so figure $100-200 a month, plus you better put money aside for annual car maintenance - at least $50-80/mo with an older car to get you thru inspection each year - tires. brakes, other stuff you will need at least 2 months worth of rent in cash just to move in - 1st month's rent and security deposit - you might need 2 months security and utilities may require a deposit also since you have never had an acct in your name

Zarg222

27 a year NET or GROSS income? 550 a week net or gross? After insurances? Net incomeafter all deductions , I think it's very doable. I take home 2500 a month, net, and my rent is 700. I live very comfortably (but then again I do not have any debt..). If it is gross, I don't think so at all. Youd only be taking home about 1600-700 a month then,...it wouldnt leave much room for saving, any entertainment, etc. Would be very tight

Hope

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