Atlanta landlords have been steadily going up on apartment prices of late, but that doesn’t mean you can’t find an affordable apartment in an area you want to live in.

This article will help you decide how much rent you can afford in Atlanta. But first…

How Much Should You Spend On Rent?

Although the stately apartments over 2,500 feet may catch your attention, you have to be reasonable to stay within your budget.

When it comes to figuring out how much you should spend on rent, there’s also the matter of location. A two-bedroom on Peachtree is going to cost you exponentially more than a two-bedroom in the Decatur border.

So how much should your monthly income be devoted to rent. A good rule to follow is one quarter of your monthly income. For example, if you pull in $4,000 a month, you should be paying about $1,000 in rent.

Remember, you also have to pay for utilities, perhaps a car note and that Netflix subscription, so your rent needs to be something you can easily handle.

Rent Affordability Calculator

Use this Rent Affordability Calculator that allows you to enter some information to help you see where you stand. You’ll need to input:

  • Your gross monthly income
  • Location
  • Monthly debts
Rent Calculator
Rent Calculator by GIGAcalculator.com

 
The main thing to remember is that your expenses have a huge bearing on the amount you can afford to spend on rent each month.

What Property Managers Look For

Property managers put a lot of weight on your gross income when determining whether to rent to you. In typical cases, landlords may require that you make at least three times the monthly rent.

There is also something called the “40 Times Rule.” The way the calculation works is that property managers want your annual income to be at least 40 times the monthly rent. So if your rent is $1,000, they want you to make $40,000.

How Much Rent Can I Afford On 50K A Year?

If you make $50,000, and you’re following the 40 Times Rule, 40 times $1,250 is $50,000. So your rent would need to be $1,250 to afford it on your $50,000 a year salary.
 
Apartment living is one of the most stress-free lifestyles in any metropolitan city. Not only do you not have to worry about cutting the grass and any other property maintenance, but you are protected under renters rights laws and tenant regulations.

How Much Of An Apartment Can I Afford?

If you’re thinking about renting an apartment, get all the rent totals from the prospective landlords and use the calculator above to tally the total.
 
To save money on rent, consider bargaining by using trade-offs such as utilities or parking space fees.
 
You may be wondering where should you live in Atlanta. Check out our Apartment Guide to find out.

Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.

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