How Much Rent Can You Afford as a New Immigrant?
Rent is usually your biggest expense in America.
A simple rule:
Try not to spend more than 30% of your monthly income on rent.
Example:
If you earn $3,000 per month before taxes, aim for rent around $900.
But many immigrants send money home. If that is your situation, you may need to aim lower — around 25%.
Before signing a lease, calculate:
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Rent
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Utilities
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Internet
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Transportation
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Groceries
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Remittances
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Emergency savings
Never sign a lease based only on hope.
Sign based on math.
