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.

Thanks for the replies all! Some great advice that I appreciate. I'm disappointed but there are other options and it doesn't make sense to pay so much when I could go cheaper. I just really liked this one, it's in a nice city, train station nearby, parks, stores, hospital in walking distance was really a plus, and apartment has to allow dogs.

It is in North NJ, new grad salary for this hospital is 75k for the residency program well I was offered $37/hour and I can't do over time for a year. I'll have my bsn.

I've done a lot of searching around with cities out of state and in NJ to relocate to, NJ salary is high but compared to cost of living it doesn't even out so much. I like the area though. I'm still considering all my options. Right now I don't like where I live and knowing I have choices to move to soon is exciting!

But you are not paying $3k/mo in rent (I hope).

Nope, not even half of that for a mortgage on a whole house :). That said, we also don't live in a high cost of living area even though it is a metro area.

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

This map.is pretty cool. It shows rn salaries by state based on cost of living, so adjusted for cost so your 50k might look better when you compare here (or maybe not though!)

Registered Nurse 2

Specializes in ED, Pedi Vasc access, Paramedic serving 6 towns.

Hi,

To give you an idea. I make around 90K a year and my take home is about 5000 give or take, and I couldn't afford a 3000.00 a month apartment! I do have a car payment, but that is all tat would be different. I pay 1800 a month (I live in the northeast where the cost of living is very high) to own a HOUSE, so I would never pay 3000 for an apartment, no way, so I could be bias! Also some day you may want a house or condo to own, and a rent that expensive will not allow you to save for that!

As other's have said you have to factor in that you will want to eat, have a cell phone, have heat and electricity (assuming they are not included in rent), and a life. So please do not rent an apartment that is this expensive. You may realize you want a car to visit other people or just get out of the city! You will be "apartment poor".

Annie

You wouldn't even be able to qualify to rent a 3000k apartment with a 75,000k income. They would deny you, which is a good thing because this isn't a good idea.

How about a roommate?

Specializes in ICU.

WHAT??? Wow, better off buying a place than throwing that much money away per month. $36k a year...ridiculous! I wouldn't, that seems way beyond your means if you want to have a life outside of the apartment D:

Specializes in NICU.

Depends where you will be paying taxes on that income,if its NY,Ca, an apartment for 3000 where u can walk to work is good,but better with a roomate to share expense.Now the 75k salary post taxes might leave you with 30-35 k ,then 3000x12 =36,000 per year.

I think you might be in a tight bind even if you budget,look at U tubes Beat the Bush on how he saves and lives frugaly,good reality check.Best of luck.

Sounds like where I live. Rent is anywhere from $2200-6500 here í ½í¸¡

Specializes in NICU.
This map.is pretty cool. It shows rn salaries by state based on cost of living, so adjusted for cost so your 50k might look better when you compare here (or maybe not though!)

Registered Nurse 217 Salaries By State: Which US States Pay the Best

Texas and AZ are the winners at $73k and Nevada at $75k adjusted. Hawaii is the lowest at 27K adjusted.

This map.is pretty cool. It shows rn salaries by state based on cost of living, so adjusted for cost so your 50k might look better when you compare here (or maybe not though!)

Registered Nurse 217 Salaries By State: Which US States Pay the Best

Thanks for sharing this! Thankful to be in Texas.

We pay 1/3 of that rent for our mortgage. A really nice apartment here will run you about $1k a month. I coudn't bring myself to pay that much for rent, even if I made a lot of money.

Good luck in your search.

I would highly advise that you do not pick such an apartment. That 75k is pre taxes, so take home pay is going to be lower especially as a single person. I know you live in a high cost of living, but I'm sure you can find something that is much cheaper. You need to seriously budget and see what other expenses you have monthly plus you are not going to be able to afford grad school when you have such high rent. Nursing pay can be decent, but you have to very careful in the way you spend money. It not going to be fun if you have to work overtime just to pay your bills.

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