Who doesn't love a warm, home-cooked meal? On the other hand, who doesn't love the thought of trading in that roasted turkey and rent-free bedroom at home for swinging apartment living? Although most University students are willing to make the sacrifice, these days it takes either a hefty paycheck or a firm devotion to city living to make the chic urban dream a reality.
While it's understandable that a one- bedroom, one-bathroom apartment on Wall Street is $2,500 a month, it's not so understandable that the alternative of living 25 minutes away in Newark, N.J. costs at least $600. In fact, from Boston to San Francisco, this $600 base price seems like a good rule of thumb for youngsters looking for an apartment. This number isn't set in stone, but since two-bedroom apartments often start at $1200 anyway, living with a roommate isn't always cheaper.
Another general rule of thumb is that an individual' s monthly rent should not exceed his or her weekly gross income. Recent grads need at least three-fourths of their monthly income to support city expenses, such as transportation and food.
Price ranges for rent can vary by thousands of dollars within a single city. In San Francisco, for example, it is possible to find a one-bedroom apartment under $1,000 a month in nearby Bay Area towns like Daly City, but in the heart of San Francisco, a single bedroom in a house or apartment can cost as much as $2,000.
With figures like these, it's no surprise that some students chose to avoid paying rent by staying with family members. Living at home for three to six months allows graduates to save a large chunk of money so when they do rent their own apartment, they will have a cushion in their savings account.
If the idea of living at home seems frightening, there are other options. Fourth-year College student Jonathan Steinberg hopes to live in Charlottesville with a few friends. "I'm not depressed about the idea of living in Charlottesville but I don't want to get sucked in and live here forever," Steinberg said.
For the majority of students, however, this fear of never leaving Charlottesville is enough motivation to send them to a metropolitan location. Some fourth years even are willing to move into a city before securing a job and brace themselves for frugal living in the name of an urban address. Fourth-year College student Lauren Santucci is looking forward to living with a few friends in New York City after graduation.
"There's so much opportunity and diversity," Santucci said about New York. "There's a young crowd, and I' m just going to go there and then find a job."
For some students, lavish living in a city isn't as important as just living in a city. For others, though, the thought of living in a room the size of a hatchback's trunk is not so appealing. Enter the possibility of living in a suburban home.
While the thought of suburban living might conjure images of dads mowing lawns and soccer moms driving minivans, it also can be an opportunity to pay less and live in a more spacious house than one would in a downtown area. In Northern Virginia cities such as Reston and Fairfax, two-bedroom townhouses can be as affordable as $1,200 a month. While the commute is between 30 minutes and an hour into Washington D.C., this rent cost is a steal considering it can cost more than $1,500 to live in a one-bedroom apartment in trendy, more urban neighborhoods such as Georgetown or Adams Morgan.
Prices, however, may not matter as much to students flocking to work at powerhouse companies that promise generous salaries.
As fourth-year Commerce student Martin Montana plans for his move to Boston in the fall, he takes comfort in the fact that his job with Accenture, a consulting company, is already lined up.
" I don't know how else I would be comfortable with such a drastic change in my life if I didn't have the comfort of knowing that I will have the money to pay the rent every month," Montana said.
| City classified |
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*
You should expect to spend at least
$600 per month for a
one-bedroom apartment in a large American city. |
| * The monthly rent should not exceed one week |
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