+15 votes
by (300 points)
Hey all!  I hope this is allowed.Hey all! I hope this is allowed. I am 23 and still relatively new to the budgeting world. I wanted to see if I could get some friendly input on rent. Any advice or tips are welcome! I live in the northeast Columbus, OH area. I currently rent a 1 br apartment for $864/ month. My current lease is up in August and I am wanting to move into a 2 br apartment so I have more storage space. I am crowded in my ~760 sq ft. 1 br apt. I am not sure what my max rent price should be!  I hope I can reveal income on here. I am a registered nurse. I work 12 hour shifts, 36 hours/ week. I make $28. 50/hr base pay and then $5/hr for half the shift and $5. 50 for the other half as a shift diff. for working nights. I want to find a decent 2 bedroom apartment but don’t want to be “house poor” or whatever people call it. Does anyone have any advice? Im just unsure of how to go about setting a proper rent budget. I appreciate any and all kind feedback/ help/ advice!  
Hey all!  I hope this is allowed.

11 Answers

+2 votes
by (2.3k points)
 
Best answer
Definitely stick w/your rent/utilities being 30% (or below) your take home pay. By the way, for you to be 23 years old, budgeting && being financially stable is great  
by (300 points)
@habitual thank you for the help and compliment! ☺️
by (2.3k points)
@scrape63 you’re so welcome ☺️ best of wishes on your journey!  
+12 votes
by (2.7k points)
Me personally for me in my family I stick to the idea of no more than 30% of my take home pay for rent and utilities but my utilities does not include myself own it includes brands water sewer garbage gas and electric and Internet cable but that's just me and a it has worked out really well
by (300 points)
@renunciation thank you!  
+1 vote
by (6.9k points)
I think typical rule of thumb for rent is 25-30% or less of your income
by (300 points)
@potage9 thank you for the help!  
+12 votes
by (650 points)
I'm not a lot of help on the question but I also live in East Columbus! Blakclick!  
by (300 points)
@skull hey! I’m in Gahanna! ☺️
by (650 points)
@scrape63 right around the corner practically ! That's aweosme! If you ever want a local friend to talk budgeting with feel free to reach out!  
by (1.4k points)
@skull I'm in Canal Winchester now, but I'm from Pataskala  
by (300 points)
@skull awe definitely, thank you!  
by (300 points)
@nobel8006 you aren’t far at all!  
by (1.4k points)
@scrape63 nope! We love Gahanna!  
by (650 points)
@nobel8006 I've looked at a couple houses in Canal Haha. Not far at all!  
by (1.4k points)
@skull it's a great little town  
0 votes
by (10.1k points)
A 2 bedroom is not your only option. You could consider a larger 1 bedroom, especially if it comes with extra storage space or a garage. A 1 bedroom with a den is less expensive than a 2 bedroom.  
by (300 points)
@fredericksburg I’m definitely open to one bedroom apartments. Most in my area though are not more than 600-850 sq ft which is crowded. Not many one bedrooms here come with a garage included  the typical price I’ve seen is an extra $50-$100/month. The 2 bedrooms here have most of my desired features!  
+10 votes
by (1.1k points)
I miss OH! We use to live up north right outside of Akron but my husband is originally from Baltimore OH and Columbus was always a blast. Anywho, i agree with the whole staying under 30% of your income for rent/utilities. The other thing you can do is track everything for a month then you can see how the going price for a 2 bedroom would affect things and try it for a month? So if you currently pay 800/month and the 2 bed is 1000/month then put 200 away during your trial run. I hope that makes sense  
by (2.3k points)
@provencher great tip!  
by (300 points)
@provencher thanks for this suggestion! Several of my coworkers are from the Baltimore area!  
+6 votes
by (14.3k points)
I am about 40 minutes east of Columbus and rent a 3 bedroom for 700 (It is below market value. Actual would be between 900 and 1000). If you are not opposed to a commute you get get more space cheaper.  
by (300 points)
@vick I will have to look into that! I’m not sure if I want a 40 minute commute but maybe a little farther from the city is a possibility!  
by (170 points)
I agree. I'm in Cincinnati. I'm in the process of moving 40 mins from work. $50 less, extra bedroom, front and back yard, garage, and so much more. I find the drive gives me time to get my mind ready for the day. Definitely consider it.  
+7 votes
by (8k points)
I’d look into moving to a cheaper area (as suggested above) or maybe get rid of stuff so you don’t need the storage space? Generally, everyone says no more than 30% of income on housing costs, but anything you can do to lower that is beneficial. My housing costs are only about 10% and it means I can pay off debt quicker and invest more into my future. Just a thought!  
+12 votes
by (900 points)
We live in CT and housing is very expensive. We do not go beyond 20% of our income.  
+3 votes
by (3.8k points)
How much are 2 bedrooms in your area 1100 would only be about 20%-25% of your income which is decent.  
by (300 points)
@stalwart most 2 bed apartments here are $1100-$1300!  
by (3.8k points)
@scrape63 that seems crazy since my mortgage isn't that much but I get cost of living differs by state. I don't think 1300 would make you "house poor" that would fall in the salary % that is normal.  
+11 votes
by (1.1k points)
I've heard different options of either 1/3 or 1/4 of your budget. For me, I'd see how much my other bills equal out to, to see which one I'd do.  
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