what income would I need to live alone in Bellevue? (Seattle: apartment, rentals)

[rabbitrun21]

I'm concerned because I've read that Bellevue is really expensive, and I've applied for a couple of jobs there. The jobs didn't specify pay, I just applied spur of the moment. How much would I need to make monthly on average if I were to live alone in a studio or 1bd? Could be house or apt.

[Hemlock140]

I had a business in Bellevue for 16 years, and did work for some of the apartment owners. If you are OK with being out a ways from downtown, you can manage on about $5,000/month, with rent in the older buildings near crossroads (156th and NE8th) running $1,600 for one bedroom. Downtown a studio will be $2,000 or more. Keep in mind that after the COVID eviction ban which ended in October some landlords will be raising rent to cover their losses with almost two years of lost rent that they may not get back.

[oregonwoodsmoke]

Look at rentals and your take home is going to have to be 3 times the rent before you will be accepted as a tenant.


Of course, a bit more money would be nice so that you have enough to enjoy some restaurants and some entertainment. But if you multiple the rent by three, it will give you a ballpark estimate.



Just be careful to not select a rental that is noticeably far below what the rent is at other places. There is a very good chance that ad is a scam. No one is renting out a studio for $300 a month when everyone else is getting $1200. Work your budget with the $1200 figure (if that is what rent is; I didn't look to see what market rent is)

[Bluefox]

Originally Posted by oregonwoodsmoke

Look at rentals and your take home is going to have to be 3 times the rent before you will be accepted as a tenant.


Of course, a bit more money would be nice so that you have enough to enjoy some restaurants and some entertainment. But if you multiple the rent by three, it will give you a ballpark estimate.



Just be careful to not select a rental that is noticeably far below what the rent is at other places. There is a very good chance that ad is a scam. No one is renting out a studio for $300 a month when everyone else is getting $1200. Work your budget with the $1200 figure (if that is what rent is; I didn't look to see what market rent is)

I don’t think it’s 3x the take home pay. Everywhere I’ve rented they’ve gone off gross income. In my earlier years I’d never have been able to afford the places I’ve rented if they required 3x net income.

Unless the market has changed since I was a renter. But if you look at some of the MFTE rentals at least in Seattle there is no way anyone would qualify for the discounted rates at the income limits going off 3x net. Even 3x gross is a stretch IMO.

Speaking of which, depending on the OPs income they may qualify for an MFTE apartment if there are any of those in Bellevue.

[pnwguy2]

Rent plus usual expenses minus or plus your net income makes this pretty easy to figure out. It isn’t trigonometry.