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?)
I would want to live in a country area more than a city are because in the city its too loud and in the country you
would be able to enjoy the nature and your neighbors.
2. Will you be living with a roommate, multiple roommates, or alone? Why?
I would probably be living with roommates to help me pay off the rent each month.
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
Millsboro, Delaware Hazleton, PA
Number of
Bedrooms
4 1
Number of
Bathrooms
3.5 1
Square Footage
3,300 413
Rent amount
$1800 $575/month
Length of lease
(month/year)
One year One year
List apartment
features

Security deposit
$1800 $575
Layout of the
apartment

Pictures

Utilities included
(water, garbage,
electric, heat, etc.)
Available Available
Parking
Attached garage On street
Pet policies
available Available
Other costs
$.55 rent/sqft $1.39 rent/sqft
Other interesting
information

Roommate(s) or
Alone
roommates alone
5. Now compare your two options. Which one would you prefer to live in? Why did you decide on this apartment?

I would rather have the apartment in Pennsylvania because it is a cheaper apartment that I would probably be able
to pay off every month.

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 = ___$22,462.50____
ii. Then, find how much you will take home per month by dividing that number by 12 =
__$1,871.87________
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? Yes
v. If yes is this a good idea? Why? I think this is a good idea because I would still be able to have
money left over.
vi. If no could you afford the apartment with a roommate?
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 = __$10,800_____
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? Yes
v. If yes is this a good idea? Why? This is a good idea because I would still have money left over
vi. If no could you afford the apartment with a roommate?
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 = __$37,500_____
ii. Then, find how much you will take home per month by dividing that number by 12 =
__$3,125________
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? Yes
v. If yes is this a good idea? Why? Buying this apartment is better because I would be saving more
money
vi. If no could you afford the apartment with a roommate?