Dorchester Pads Rent Calculator
Now that you have a general idea of how much you can spend on rent, here are a few tips to keep in mind.
- It’s a good idea to keep your monthly rent between 25% and 33% of your monthly income. You can get an estimate of this number by taking your yearly income and dividing that by 40. From there, you can adjust up or down, depending on your comfort level.
- You also want to remember that there are more monthly costs than just rent. Insurance and utilities will also need to be paid as well, so factor those costs in each month too.
- Don’t forget to take other living and lifestyle expenses into account. Costs like public transportation or parking should be considered. Not to mention the fun stuff like going out to eat, catching a game, or seeing a show. If you do any of these on a regular basis, factor them into your monthly expenses as well.