Most finance experts recommend allocating about a third of your income to housing expenses. That includes rent, utilities, and transportation. You should also consider some basic lifestyle questions as you set your budget. Will you spend a lot of time relaxing at home, and not spend much money going out to restaurants, bars, and shows? If so, consider putting down a bit more money for an apartment you have plenty of room to relax in. Do you prefer to spend most of your time traveling or going out? Opt for a lower rent that allows you to put more of your money into entertainment. You should also talk to the landlord at any place you are seriously considering about average utility costs. Some rentals have, for example, efficient appliances that bring down energy bills, allowing you to dedicate a little bit more to rent.
Enter your gross annual income – your income every year before taxes – into the simple rent calculator below to get a more exact idea of your rental budget. Then, start exploring the massive Beacon Hill Pads database to find apartments that are right for your budget!