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 the suburbs somewhere in the tri-state area.
2. Will you be living with a roommate, multiple roommates, or alone? Why?
I will probably be living with one to three roommates because it will be easier to split the
costs of an apartment.
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.
-A heating and cooling system are important because I do not want to freeze during the
winter and be extremely hot in the summer.
-Having a washer and dryer are important because it is easier not to have to go and pay at a
Laundromat.
-Plumbing is important because I dont want to have a poor system that constantly needs
repairs. Electricity is important because everything needs to be functioning and the outlets
need to work so I can plug in my cell phone and computer.
-Noise level is important because I dont want noisy neighbors.
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

175 Daphne Dr Marlton, NJ 08053

Number of
Bedrooms

Number of
Bathrooms

Square
Footage
Rent amount

1200 sqft

1100 sqft

1,560+

850/month

Length of
lease
(month/year)

1 year

1 year

718 Prescott Ave APT 5,Scranton,

PA 18510

List
apartment
features

Disability Access: Yes

Floor Covering: Carpet, Tile

Elevator: Yes

Appliances Included:
Dishwasher, Dryer, Freezer,
Microwave, Range / Oven,
Refrigerator, Washer

Security
deposit

Package Service: Yes

Playground: Yes

Picnic Area: Yes

Patio: Yes

Pool: Yes

High Speed Internet Ready: Yes

Storage: Yes

Fitness Center: Yes

Business Center: Yes

Club House: Yes

Conference Room: Yes

Game Room: Yes

View: Water

1000

Cable Ready

Ceiling Fan

Flooring: Hardwood, Tile

Lawn

Patio

Vaulted Ceiling

Dishwasher

Microwave

Range / Oven

Refrigerator

1000

Layout of the
apartment
[Insert
Picture]

Pictures

Utilities

included
(water,

garbage,
electric, heat,
etc.)

Cooling: Central
Online Maintenance Portal: Yes
Central heating

Central cooling and heating

Parking Cost

Free

Free

Pet Policies

Cats and dogs

cats

Other costs

Gas, electricity

Gas, electricity

Other
interesting
information

The kitchens in these homes are tiled,

with contemporary cabinetry and space
for dining and kitchen tables.

Brand new constructions completed in

2010. Features open layout, beautiful
maple hardwood floors accented with
decorative ceramic tile.

Roommate(s)
or Alone

Roommates

Roommates

5. Now compare your two options. Which one would you prefer to live in? Why did you decide on
this apartment?
I would rather live in apartment number one. Even though it is more expensive, it
offers many more useful features and allows more space for roommates/guests.
The overall look and feel of the apartment is much nicer and comfortable. It also
has a nice surrounding area.

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 = ___$1,871.88_______
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? No
v. If yes is this a good idea? Why?
vi. If no could you afford the apartment with a roommate? I could most
likely afford this apartment with a roommate depending on how much money
they make.

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? No
v. If yes is this a good idea? Why?
vi. If no could you afford the apartment with a roommate? Probably not
because the rent is significantly higher than this estimate.
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 = ___$39,817___
ii. Then, find how much you will take home per month by dividing that number by
12 = __$477,810________
iii. Next, find what you should spend for rent by multiplying that number by 0.30 =
__$143,343______
iv. Is the rent for the apartment less than what you calculated in the line
above? No
v. If yes is this a good idea? Why?
vi. If no could you afford the apartment with a roommate? I could
definitely afford this apartment with a roommate but not by myself.