What a roommate can save you in 100 US cities
Rent prices can shift dramatically depending on local housing demand, sometimes pricing renters out entirely. With the price tag of a one-bedroom rental in many large U.S. cities topping over $2,000 per month, those looking to sign a lease may be hesitant to potentially overextend an already-tight budget. Financial advisors often follow a general rule of thumb: You should not spend more than 28% of your gross income on housing to maintain a sustainable budget. However, in the most expensive cities, this can put people earning the U.S. median household income of $80,610 overextended on housing costs.
One approach to maintaining a short commute and city benefits while cutting costs is to consider adding a roommate to the equation to split housing expenses. But roommates have unquantified costs as well—such as lack of privacy, unexpected guests, or other potential inconveniences. So this begs the question: At what point is it worth adding a roommate to the mix?…