Finding an Apartment Project

For this project, you will need to decide what features are important to you for finding your first apartment. Imagine
yourself ready to move out of your parents house or away at college and needing a place to live. Where would you want
to be? What things do you need and want in an apartment? How much can you afford?

Background Answer these questions in complete sentences. Change your answers to bold or another color
1. Where do you want to live and why? (City/country, what state/area?)

2. Will you be living with a roommate, multiple roommates, or alone? Why?

3. What are the 5 most important features or amenities of an apartment for you? Use the PDF Apartment Checklist
for ideas and write 1 sentence for each to explain why it is important.


4. Find TWO apartments that meet many (or all) of your qualifications and fill out the information you can on this
table.
apartments.com, forrent.com
zillow.com or trulia.com just set filters to RENT
NOT rent.com (you need to make an account)
Search your college newspapers classifieds section too!

Qualification Apartment #1 NAME Apartment #2 - NAME
Location hackettstown hackettstown
Number of
Bedrooms
1 3
Number of
Bathrooms
1 1.5
Square Footage 653 1678
Rent amount $950 1,900 a month
Length of lease
(month/year)
12 months 1 year
List apartment
features
NICE SIZE ROOMS, H/W FLOORS,
RECESSED LIGHTING, DISHWASHER
AND CLOSE TO TOWN, COLLEGE,BUS &
TRAIN. OFF-STREET PARKING. PETS OK.
LAUNDRY ON PREMISES. HEAT AND
HOTWATER INCLUDED IN RENT.
SS appliances, granite counters, custom
cabinets
Security deposit $1000 $3000
Layout of the
apartment
Open with one bedroom, open kitchen Single family home with 3 bedrooms a 1.5
bathrooms
Pictures http://www.zillow.com/homedetails/200-
Harvey-St-APT-5B-Hackettstown-NJ-
07840/2107134930_zpid/ - hdp-photo-lightbox
http://www.zillow.com/homedetails/64-Main-
St-Hackettstown-NJ-07840/40101827_zpid/ -
hdp-photo-lightbox
Utilities included
(water, garbage,
electric, heat, etc.)
Heat, hotwater, garbage Heat, electric, garbage
Parking Off street Off street driveway
Pet policies yes no
Other costs Cable and furniture Cable and internet
Other interesting
information
Close to town Is close to the train station
Roommate(s) or
Alone
Alone roomates
5. Now compare your two options. Which one would you prefer to live in? Why did you decide on this apartment?

I would prefer to live in the house with roommates because it would be better to live in your own unit with people
you know then have to deal with the people you dont know around you.

6. Will you be able to afford this apartment?
a) Assume you earn the median salary for high school graduates working full time - $29,950 per year.
i. First, find your net income by multiplying your salary by 0.75 = ___22,462.5____
ii. Then, find how much you will take home per month by dividing that number by 12 =
____1871.87______
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = __561.56______
iv. Is the rent for the apartment less than what you calculated in the line above? With three
roommates it would be $623 a month which is a little above the 30% but it is still doable
v. If yes is this a good idea? Why? Yes its a good idea because you will have a place to live
vi. If no could you afford the apartment with a roommate? Yes you need at least three roommates
for this to be doable
b) Assume you have the average income of a full-time college student, which is $14,400 according to the
National Center for Educational Statistics.
i. First, find your net income by multiplying your income by 0.75 = ____10800___
ii. Then, find how much you will take home per month by dividing that number by 12 =
________900__
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = ___270_____
iv. Is the rent for the apartment less than what you calculated in the line above? no
v. If yes is this a good idea? Why? No you wouldnt make enough money
vi. If no could you afford the apartment with a roommate?you could afford to rent the house if you
had 7 roomates
c) Assume you make the median salary of a person in the career field youre interested in. Look up the salary
on https://www.bls.gov/ooh
i. First, find your net income by multiplying your salary by 0.75 = ___37500____
ii. Then, find how much you will take home per month by dividing that number by 12 =
____3125______
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = ___937.50_____
iv. Is the rent for the apartment less than what you calculated in the line above? no
v. If yes is this a good idea? Why? Yes if you have a roommate it is very affordable
vi. If no could you afford the apartment with a roommate? yes