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If you can afford $900 to $1080 apartments. How much do you make a year?

1 Answer

5 votes

Answer:

$43,200

Explanation:

The amount of money you make a year depends on various factors, such as your monthly expenses, debt obligations, and tax liabilities.

To get a rough estimate of your annual income based on the range of affordable rent provided, you can use the rule of thumb that suggests spending no more than 30% of your gross income on housing expenses. Assuming you are willing to spend between $900 and $1080 per month on rent, we can calculate the range of annual incomes that would allow you to meet this guideline:

$900/month rent x 12 months = $10,800/year rent

$10,800/year rent / 0.3 = $36,000/year gross income

$1080/month rent x 12 months = $12,960/year rent

$12,960/year rent / 0.3 = $43,200/year gross income

Therefore, based on the assumption that you can afford rent between $900 and $1080 per month, your estimated annual gross income would need to be in the range of $36,000 to $43,200. However, this is only a rough estimate and may not take into account all of your individual financial circumstances.

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