Lake Geneva Homes for Rent – What Should My Monthly Rental Budget Be?

No matter your income level - we all need to be on a budget of some kind because it just seems to be human nature to spend what you have these days.

Let’s use a couple that both make the stated minimum wage of $7.25 an hour. Their gross income is $30,160 per year. They should be saving $3,016 annually ($30,160 * 10%). You divide the balance of their income by 12 (months) = $2,262. Traditionally speaking, the experts indicate that you should allow no more than 30% of your income towards housing. If you calculate 30% of the total gross income, this couple can afford $678 per month for rent. The remaining figure of $1583 must support utilities, food, clothing, transportation, medical, and miscellaneous items every month.

Realistically people make more than the $7.25 in the example, so you will have to use those figures and equations to assist you in discovering what your rental budget should be.

Are you ready to make a move? I have quality rentals starting at $750 up to $4000 per month in Geneva National, Delavan, Lake Geneva, Linn Township, Williams Bay, Fontana, Walworth, and Elkhorn. I am happy to help you find the right fit and location at the right number.

Stacey Schultz

262-903-9630