The Latest on How Is COVID-19 Affecting Rent Prices

February 18, 2021 | By Stella M AuthorMy First Apartment

The COVID-19 pandemic has radically reshaped the economy, including the rental market. Some people have struggled to pay rent during the pandemic, and many landlords have faced challenges finding new tenants who can afford the rent. Weirdly, there’s a silver lining in all this: Many landlords have had to lower their rents to make ends…

MFA IRL: Can Tori Afford $ 753 Rent?

March 15, 2019 | By MFA Editors AuthorMy First Apartment

Tori asks: “Ok, I make $14.25 an hr, get paid every week. Car note is $528 and my insurance is $293 a month, plus phone bill $80 a month, gas to work is $40 a week. I have a 4 yr old son. Can I afford 753 for rent?” Tori, Like many young adults you…

5 Tips to Save Money for Moving Out

March 2, 2017 | By Sarah AuthorMy First Apartment

When you’re on the hunt for your first place, a HUGE thing to remember is that you need to have about 3 TIMES your expected rent ready to go. This money goes towards paying a security deposit equal to (at least) one month’s rent, your first month’s rent due on signing of the lease, plus…

Saving for First Apartment: How Much Money Do You Need to Move Out?

May 4, 2016 | By Alex AuthorMy First Apartment

This post was originally published in September 2013 and has been updated here for 2016. Check out the comments to the original post for some detailed examples on how to calculate your savings target. For many of our readers, moving into their own apartment is the ultimate goal. You want a place of your own,…

Affordable Rent Calculator

September 20, 2015 | By MFA Editors AuthorMy First Apartment

Click Yes or No below to open calculator. Description of the My First Apartment’s Affordable Rent Calculator: 1.) The above easy-to-use calculator uses the formulas from this post for calculating your maximum affordable rent. (Note: If you are paid hourly, you should also check our post How Much Rent Can I Afford on My…

How Much Rent Can I Afford on My Income? – Two Simple Ways to Estimate

June 4, 2015 | By MFA Editors AuthorMy First Apartment

Update: You can download our new Printable Apartment Budgeting Worksheet and use it to estimate your rent and budget for all your expenses. We get questions all the time about how much rent should you pay based on your income. For example, here is a recent comment from Alen: “I have found a apartment for…

2015 Graduate’s Guide to Budgeting for Your First Apartment

April 6, 2015 | By MFA Editors AuthorMy First Apartment

It’s almost time to bid goodbye to the dorms and start planning your next move. If you already have a job lined up, you are ready to start looking for your first apartment. But even if you don’t, you can use the chart below to get a rough idea of what types of expenses you…