What You Could Afford to Rent with $36,000 in 10 US Cities


At Zumper, we care about helping you find your next place. You deserve a fresh start, which is why we’ve teamed up with Mint Mobile, a premium wireless service for just $ 15 per month, to give you the chance to earn free rent for one year.

You read correctly. A grand prize winner will receive free rent for one year in the amount of $ 36,000. We hope this helps you get a fresh start, whether you’re spending the money on your current lease, a move across town, or a move across the country.

What are the fine print?

There is no catch. A grand prize winner will receive $ 36,000 which can be used towards rent. Second place winners will receive $ 2,000 for moving expenses, and third place winners will receive one year of Mint Mobile service (15 GB / month).

The grand prize will be awarded in the form of a payment of $ 36,000. You will receive the same amount of money whether you live in Austin or New York, the country’s most expensive real estate market.

Imagine the possibilities. Would you like to upgrade to a bigger apartment? Moving to another city? How could $ 36,000 help turn an apartment or a house into a house?

What you could rent with $ 36,000 in cash prizes

What you can afford with $ 36,000 ($ 3,000 per month) depends on where you decide to live. Let’s say you choose to rent the largest apartment possible while earning less than $ 36,000.

You could spend the excess on expenses such as utilities, transportation, or new furniture. Or, you could spend it getting to know the neighborhood.

rent prices and food in 10 American cities

For example, if you decide to rent a 3 bedroom apartment in Boston, you can still afford 229 Fenway Franks. That’s enough iconic hot dogs for you and your movers at least six times.

Bagels, the lifeblood of New York City, cost around $ 1.60 a piece. If you’re renting a one-bedroom apartment, you should have plenty of money to add to your bagel bottom, although you’ll want to pack some spread as well. In Denver, green chili is a local way of life. Even if you rent a 3 bedroom apartment, you will still be able to eat a plate of it for dinner for 261 days a year.

Rent prices in major cities

We calculated it using the Zumper Rent Report, identifying the median monthly rent for 1-bedroom, 2-bedroom, and 3-bedroom apartments in ten major cities and estimating how many bedrooms you could afford for less than $ 36,000 per year.

Source: Zumper August 2021 Rent Report

In August 2021, the median rent for a 3-bedroom apartment in New York City was around $ 3,000 per month, so even if you can afford two or three beds with $ 36,000 for the year, that would use all of them. your earnings. By downsizing to one bedroom, you would have a little to spend. In San Francisco, the median rent for a 2-bedroom apartment exceeds $ 36,000, but you can expect to spend around $ 33,600 per year for a one-bedroom apartment, leaving you with a surplus of $ 2,400. . In Atlanta, however, the median rent for a 2-bedroom is $ 2,120 and $ 2,400 for a 3-bedroom. , for example.

So wherever you decide to go, there’s a good chance the $ 36,000 will be covered in rent, and more.

Enter for a chance to win and explore the potential of a whole new place.

Methodology

All rental prices are taken from Zumper and our monthly rent report for August 2021. To calculate the annual rent, we have multiplied the median monthly rent for 1-bedroom, 2-bedroom, and 3-bedroom apartments by 12 months. We determined the available space by selecting the apartments with the most bedrooms for which the median annual rent is less than the allocated $ 36,000. To calculate the amount of food that can be purchased, we subtracted the cost from the median annual rent for each city from $ 36,000 and divided the difference by the food cost of the associated city. To find out the cost of food, we identified local restaurants and used the prices listed on their menus: Burritos La Taqueria; Ess-a-bagel bagels; Half-smokes from Ben’s Chili Bowl; Burgers from In-n-Out; Cubanos from the Enriqueta Sandwich Shop; 1947 Paschal’s Old Fashioned Fried Chicken; 12 oz of Seattle Coffee Works Filter Coffee; Grandma’s plate of green chili from La Loma; Al’s # 1 Italian Beef Regular Beef Sandwich. The price for Fenway Franks hot dogs was taken from The Boston Globe: “We are n ° 1 for ticket prices”, 04/06/2015.