Calculate Your Rental Market Range
Calculate Your Estimated Rental
Once you’ve used the rent calculator to get some estimates, here are few things to keep in mind:
A good rule of thumb is to spend between a quarter and a third of your monthly income on housing. For a rough monthly estimate, take your current yearly income and divide it by 40. That number is a great starting point for a comfortable budget.
Remember, your housing costs can also include utilities and insurance. So you’re going to want to include those costs too.
Think about your typical monthly expenses. These include any other other utilities that need to be factored in. Don’t forget lifestyle and entertainment costs either. If you love eating out or going to a lot of games or concerts, you need to take those costs into account. That will help give you a more realistic budget.
The more effectively you can figure out your budget, the better off you’ll be when it comes to your search. Now that you've got a solid handle on your budget, it's time to find the perfect Back Bay apartment for you! Try the rent calculator below to get a good idea of the budget that will meet your goals and needs.