Before signing a lease, it’s important to remember that housing costs include more than just rent. Here are a few additional expenses to make sure you’re accounting for:
Utilities: If you’re renting an apartment, check with your landlord or property manager so you know what you are responsible for.
Wi-Fi and/or TV Services
Parking: Depending on your housing situation and mode of transportation, you may need to consider what the additional cost of parking will be each month.
Renter’s Insurance: Many property managers require that their tenants carry rental insurance. This can usually be bundled with your auto policy and is relatively inexpensive given its more limited nature of coverage.
Overall, a good target for your total housing costs is 36% or less of your gross income.