Finding an Apartment Project

For this project, you will need to decide what features are important to you for finding your first apartment. Imagine
yourself ready to move out of your parents house or away at college and needing a place to live. Where would you want
to be? What things do you need and want in an apartment? How much can you afford?

Background Answer these questions in complete sentences. Change your answers to bold or another color
1. Where do you want to live and why? (City/country, what state/area?)
I want to live somewhere in the Northeast, somewhere between Vermont and Delaware, and in a more
rural/suburban area; but I do want to study abroad for a time in Ireland or Scotland.
2. Will you be living with a roommate, multiple roommates, or alone? Why?
Definitely a roommate, or even two, just until I have enough money to live on my own.
3. What are the 5 most important features or amenities of an apartment for you? Use the PDF Apartment Checklist
for ideas and write 1 sentence for each to explain why it is important.
I need a washer and dryer, because I do not think I could spend money on a Laundromat. I need high-speed
Internet access because the career I want will involve online research/publication; I need parking because I do not
do well with public transportation and since I will be living somewhere more rural, I will need a car to get around.
I need only one bathroom, because I can share the bathroom with my roommate. I need

4. Find TWO apartments that meet many (or all) of your qualifications and fill out the information you can on this
table.
apartments.com, forrent.com
zillow.com or trulia.com just set filters to RENT
NOT rent.com (you need to make an account)
Search your college newspapers classifieds section too!

Qualification Apartment #1 NAME Apartment #2 - NAME
Location 1506 Whiteboro Street, Utica, NY 1520 Genesee St, Utica, NY
Number of
Bedrooms
Three Two
Number of
Bathrooms
One One
Square Footage N/A N/A
Rent amount $850/mo $680-750/mo
Length of lease
(month/year)
12 months N/A
List apartment
features
Air Conditioning, Unfurnished available, Cable-
ready,
Additional Storage, Cable/Satellite, Off street
parking, secure buildings, hardwood floors,
recreation room, intercom system, elevator
Security deposit $850 $680-750
Layout of the
apartment
None none
Pictures


Utilities included
(water, garbage,
electric, heat, etc.)
Water, sewer, electric, heat, garbage Water, sewer, electric, heat, garbage
Parking Yes Yes
Pet policies No pets Cats allowed
Other costs None none
Other interesting
information
Is in a very Catholic area Quiet, secure environment, with a friendly
atmosphere
Roommate(s) or
Alone
Two roommates One roommate
5. Now compare your two options. Which one would you prefer to live in? Why did you decide on this apartment?
I would prefer to live in Apartment #2. While the rent will be higher, even with a roommate helping with the rent,
there a lot more features that come with the apartment and the apartment complex. Also, the apartment looks
nicer, and is closer to the school I am looking into.


6. Will you be able to afford this apartment?
a) Assume you earn the median salary for high school graduates working full time - $29,950 per year.
i. First, find your net income by multiplying your salary by 0.75 = ___$22,462.50____
ii. Then, find how much you will take home per month by dividing that number by 12 =
_$1,871.88_________
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = _$561.56_______
iv. Is the rent for the apartment less than what you calculated in the line above? No
v. If yes is this a good idea? Why?
vi. If no could you afford the apartment with a roommate? Yes, because the rent of the apartment
is $680 to $750. I will have to pay $340 to $375 when I spilt the rent with my roommate. If both of
us have the same salary, then we could easily afford the apartment.
b) Assume you have the average income of a full-time college student, which is $14,400 according to the
National Center for Educational Statistics.
i. First, find your net income by multiplying your income by 0.75 = ___$10,800____
ii. Then, find how much you will take home per month by dividing that number by 12 =
__$900________
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = __$270______
iv. Is the rent for the apartment less than what you calculated in the line above? No.
v. If yes is this a good idea? Why?
vi. If no could you afford the apartment with a roommate? No, I couldnt afford it even with a
roommate. This is because if we both of us paid equally for rent, then our combined rent is less
than the rent itself. The only way we could afford it is if my roommate made more than I did.
c) Assume you make the median salary of a person in the career field youre interested in. Look up the salary
on https://www.bls.gov/ooh
i. First, find your net income by multiplying your salary by 0.75 = _$41,955______
ii. Then, find how much you will take home per month by dividing that number by 12 =
_$3496.25_________
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = _$1048.88_______
iv. Is the rent for the apartment less than what you calculated in the line above? Yes.
v. If yes is this a good idea? Why? The apartment is in excellent quality, and its near my college,
which is in a rural area. Although I could spend my rent on a more expensive studio, I want to use
the rest of the rent money I didnt spend on entertainment and personal items.
vi. If no could you afford the apartment with a roommate?