Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 5 months ago

How long will I have to work a minimum wage job to afford a decent apartment & bills that go with?

8 Answers

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  • 5 months ago

    You cannot afford a place on your own on a min wage job in most areas. Most people working min wage can only afford it with roommates if that.

  • 5 months ago

    Up until you improve your marketability to potential employers, show somebody that you are worth more than minimum wage.

  • Erik
    Lv 7
    5 months ago

    That depends on where you live. In Los Angeles, forever.

  • 5 months ago

    Full time for a couple of months assuming you find enough roommates that make at least 3 times the monthly rent and all have great credit, and are able to save up for the first months rent, last months rent plus the security deposit (typically equal to one months rent) which will need to be paid the day you sign the lease and/or move in.

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  • 5 months ago

    until reparations start coming in

  • .
    Lv 7
    5 months ago

    It depends on a lot of factors. How much can you put into savings per paycheck considering your current expenses? What exactly do you consider a decent apartment? Where do you live?

  • nt
    Lv 6
    5 months ago

    In many areas, you will never be able to afford an apartment on min wage. Unless you live in a ghetto.

    $7.25x40=290 x4.333=1256. Max rent is 28% which is 351. In my area, the only place that is 351 is the ghetto.

    Another problem you will face is even finding someone willing to rent to you because you do not have a prior rental history. I got resistance when I was 30 despite very good credit. (I had to show them my brokerage account showing assets of over $50k to get approved because I lived at home so long)

    I don't regret it though, HUGE financial headstart. Retired at 39.

  • 5 months ago

    about 80 hours per week in many areas...in about 3 months you could have enough saved for 1st month and deposit as well as costs such as furniture, dishes

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