affordable apartment with rn salary

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I want to move to an apartment after I graduate this May with rent at about $3000/month. My salary will be $75,000/year (before they take out money). I won't be allowed to work over time at first because it's a residency program.

What ill save on: I have a car but from this apartment I can walk to the hospital for work, it's about 1 block away. My aunt can watch my dog for free.

I also want graduate school and will take out loans. I have no student loans from undergraduate. The hospital I'll be employed at gives money for grad school (5k a semester) and scholarships.

Do you guys think this apartment is affordable? Is it realistic I could even save money? I'm trying to think cost of everything. .and I figured I'd ask because those who lived on your rn salary will have an idea..thank you.

Oh and I WISH RN's started out at $75k here! We barely even hit $50k :/ oh well.

New RNs make about that where I'm at...I don't know if any apartment that costs $3k here...even a two bedroom condo on one of the countries most popular beaches is less than half that!

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New RNs make about that where I'm at...I don't know if any apartment that costs $3k here...even a two bedroom condo on one of the countries most popular beaches is less than half that!

Just thanking everyone again for sharing your perspectives and what you pay!

The apartment is in a really expensive town. I mean close to comparable to Bethesda, MD but not as nice if you guys know how expensive that is. Anyway, I will heed the advice thank you I think I knew but needed to hear it be told haha. I want to save money!

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Specializes in Med/Surg.

I live in Fairfield County CT, and that rent is fairly high for my city. Average is maybe $1600-$1800 for a modest sized 1-2 bedroom. I would never pay that, even if I could comfortably afford it.

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I live in Northern NJ too and make about the same and there's no way in heck I could afford that. Mind you I'm single, no kids. I only have myself to worry about. You could definitely find something cheaper or how about a roommate? :(

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Specializes in Psychiatric and Mental Health NP (PMHNP).
Just thanking everyone again for sharing your perspectives and what you pay!

The apartment is in a really expensive town. I mean close to comparable to Bethesda, MD but not as nice if you guys know how expensive that is. Anyway, I will heed the advice thank you I think I knew but needed to hear it be told haha. I want to save money!

Most young professionals have roommates when first starting out. That is also a good way to afford a nicer place, even a house. You can find people with very nice places who are looking for a roommate and charge a reasonable rent, or you can take on the responsibility of renting a place and finding roommates. This shouldn't be hard to do in the DC Metro area, which is full of young professionals.

I make six figures and I wouldn't dream of paying $3000 a month in rent.

A $3000 a month apartment split 2 ways is $1500 per month, which is doable for you.

A $4000 a month house, town house, or large apartment split 3 ways is $1333 a month.

Just Google "budget for young professional" and you will get lots of good info and tools. There are also many good budget apps for smart phones.

Good luck.

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Specializes in Pedi.

I'm late to the party but no, in no uncertain terms should you rent an apartment for $3000 a month. That's almost double my mortgage for a 3 bedroom house! When I was a new grad, my starting salary was $27/hr (or ~$56K annually). I lived in a studio apartment for $950/month. In 4 years, I was able to save enough for a down-payment for my house and pay down my student loans considerably. The reason that I decided to buy was that I wanted to move out of my neighborhood and, when I looked at rent for 1 BR apartments and considered that I had spent $45,000 in rent over the course of 4 years and had nothing to show for it, buying was the most logical choice. My mortgage for a 3 BR house (which includes taxes and insurance in escrow) is comparable to rent for a 1 BR apartment in my city.

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oh hellllllno

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Don't do this at all. Why give away $36000 to a landlord when you can own your own property with that amount of money. If I were you, I would move in with roommates and try to live on half of the take home pay for about a year so you can pay other debts or secure a down payment on an affordable home. In your case, you could save about $24000 in a year which can get you a nice little place for $125000 with $1200 monthly mortgage. Way better than giving your hard earned $3000 every month to a guy sleeping at home . Funny you mention Bethesda, Md because I am in nursing school but work as a residential concierge in Bethesda and the average apartment is $3000-7000. Those people living in them make big money, nothing compared to a nurse. Lol a resident's kid once told me why I wanted to be a nurse...that he'd rather be an actor and make more money than his dad and uncle. My fiance and I are priced out of Moco and planing to move further in order to afford a place. We live with roommates now and will continue to live with them even if both making 6 figures. Good way to pay little for your mortgage and still own the house.

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Don't do this at all. Why give away $36000 to a landlord when you can own your own property with that amount of money. If I were you, I would move in with roommates and try to live on half of the take home pay for about a year so you can pay other debts or secure a down payment on an affordable home. In your case, you could save about $24000 in a year which can get you a nice little place for $125000 with $1200 monthly mortgage. Way better than giving your hard earned $3000 every month to a guy sleeping at home . Funny you mention Bethesda, Md because I am in nursing school but work as a residential concierge in Bethesda and the average apartment is $3000-7000. Those people living in them make big money, nothing compared to a nurse. Lol a resident's kid once told me why I wanted to be a nurse...that he'd rather be an actor and make more money than his dad and uncle. My fiance and I are priced out of Moco and planing to move further in order to afford a place. We live with roommates now and will continue to live with them even if both making 6 figures. Good way to pay little for your mortgage and still own the house.

Good advice! I don't live in Bethesda but I used it as a comparison because I wish I could afford that area or Rockville. I'll be smart and save.

I really would like to move to Raleigh, NC...so beautiful there...big salary cut though and nurses don't have unions. And right now I have a promised RN job with a company that pays for almost 100% of grad school.. will work hard now and enjoy later :)

My 2 best classmates are both engaged...I wonder if they wouldn't mind all sharing a rented house or something until we can afford more.

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Good advice! I don't live in Bethesda but I used it as a comparison because I wish I could afford that area or Rockville. I'll be smart and save.

I really would like to move to Raleigh, NC...so beautiful there...big salary cut though and nurses don't have unions. And right now I have a promised RN job with a company that pays for almost 100% of grad school.. will work hard now and enjoy later :)

My 2 best classmates are both engaged...I wonder if they wouldn't mind all sharing a rented house or something until we can afford more.

Excellent idea. Good luck with everything.

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Go cheap for a while. I know it's easy to get into the " I wants " , especially when you're making pretty good money. But I promise you, the newness of it will get old and you will be stretching yourself thin and will regret it. Find a cheaper place and try to start saving. You will be happy to have some extra money to treat yourself when you feel like you need it, go on a vacation, save to buy a house of your own etc., You do not want to be house poor. I think it was very wise of you to reach out and ask for advice from others before just jumping on the apartment in question. Keep looking and stay smart about it :)

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Specializes in Pedi.
Good advice! I don't live in Bethesda but I used it as a comparison because I wish I could afford that area or Rockville. I'll be smart and save.

I really would like to move to Raleigh, NC...so beautiful there...big salary cut though and nurses don't have unions. And right now I have a promised RN job with a company that pays for almost 100% of grad school.. will work hard now and enjoy later :)

My 2 best classmates are both engaged...I wonder if they wouldn't mind all sharing a rented house or something until we can afford more.

If not, there's always Craigslist for roommates. I've never done it myself but have friends who have found good roommate situations that way.

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