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How Much Should I Budget Towards Housing?
Conservative budgets suggest allocating 25% to 30% for housing expense.
If you lease with a spouse or roommate, both incomes are considered. This
chart helps you decide.
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GROSS ANNUAL
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RENT
AMOUNT
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RENT
AMOUNT
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GROSS ANNUAL
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RENT
AMOUNT
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RENT
AMOUNT
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INCOME
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(25%)
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(30%)
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INCOME
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(25%)
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(30%)
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$16,000
$18,000
$20,000
$22,000
$24,000
$26,000
$28,000
$30,000
$32,000
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$334
$375
$417
$458
$500
$542
$583
$625
$667
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$400
$450
$500
$550
$600
$650
$700
$750
$800
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$34,000
$36,000
$38,000
$40,000
$42,000
$44,000
$46,000
$48,000
$50,000
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$706
$750
$792
$833
$875
$917
$958
$1000
$1042
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$850
$900
$950
$1000
$1050
$1100
$1150
$1200
$1250
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General Rent Ranges - The following represents
about 90% of the area apartments in those markets. A small selection will
be found above and below the amounts listed.
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---- One Bedroom
---- Two
Bedroom
---- Three
Bedroom
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Greater
Dallas
$500 - $800
$625- $1050 $850 - $1400
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Greater
Ft. Worth
$450 - $750
$575 - $950
$750 - $1100
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Irving/Las Colinas
$500 - $800
$625 - $1050 $850 - $1300
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Amenities - Options range from microwaves
to ceiling fans, from efficiencies to four bedrooms, from pools to tennis
courts and more!
Security Deposits - Security deposits range
from $100 to a full month's rent, most commonly being approximately $250.
Some apartments require separate deposits for roommates. Credit application
fees are generally $25 - $45.
Verifiable Income - Verifiable gross monthly
income at least 3 times the monthly rent. For example, a rent of $500
would require a minimum of $1,500 gross monthly income.
Credit Check - We advise the client that
a credit check will be conducted by the apartment community or management
company representing the community.
Criminal Background Check - We advise the
client that a criminal background check will be conducted by the apartment
community or management company representing the community.
Rental History - Any previous rental history
will be verified and mortgage payments may be included as rental history.
Additionally some communities are also conducting criminal background
checks.
Leases - All apartments require a written
lease. Lease terms are typically 6 to 12 months. Most leases are written
for 12 months. Shorter lease terms are available at premium rates. J.
Ellis Apartment Locators also has information on short-term
and corporate housing offering options of furniture, utilities and
even maid service.
Utilities - Rent will often include sewer,
gas, trash and pest control. Water and electricity are almost always paid
separately by the tenant. Your J. Ellis Apartment Locators' Rental Consultant
will provide you with all local utility information and assistance.
Moving Tips - J. Ellis Apartment Locators'
exclusive Moving Book provides you with helpful moving tips and checklists
along with information on transportation, storage facilities, discounts
at area businesses and much more!
Furnished Units - There are some furnished
apartments, or furniture rental companies
will furnish individual pieces or your entire apartment.
What About Pets? - Many apartments allow
pets. Pet size is commonly restricted to 20 lbs. and 12 inches in height,
however larger pets can be accomodated by a few communities. The pet deposit
will range from $300 - $500 per pet often with all or a portion of that
deposit being non-refundable. There may be additional rent as well.
City Information - To learn more about any
of the following areas select below:
Irving
Lewisville
Dallas
Mesquite
Arlington
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