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Just as it’s gotten very expensive to sign a mortgage, so too has it gotten expensive to rent a home. The median U.S. rental cost $1,937 a month in March, according to Rent. But as you may be painfully aware, if you’re looking to move to a large city, your cost might be a lot higher.
In the coming months, many recent college graduates will no doubt be looking for rentals to live in. And you may be one of them.
Now ideally, you’ll only first rent a place to live once you’ve actually secured a job. In fact, you may not even get approved to rent a home until you can show proof of a steady income.
But even then, you’ll need to determine how much money you can afford to spend on rent. And the answer is, you should aim to limit your rent