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?)
Ocean City, NJ
2. Will you be living with a roommate, multiple roommates, or alone? Why?
One roommate good to have someone else to live with to keep you company and share expenses
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.
*Fire alarm and sprinklers for safety. You never know who will be living near you and if they will be careful
*Washer and dryer so I dont have to go to a Laundromat and carry laundry too far
*Full-time security person for safety - monitor who is going in and out . Good to have someone there in case of
emergency
*Satellite t.v. or cable Will give me more options of what to watch and better service
*High-speed internet access important to be able to connect to internet for daily living and work/school

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 Sea Aire Apartments & Mystic Point Apartments 509 East 7
th
Street
Number of
Bedrooms
2 2
Number of
Bathrooms
1 1
Square Footage 767 1,751
Rent amount $950 $900
Length of lease
(month/year)
12 months 12 months
List apartment
features
Spacious closets, A/C, Cable, Washer/Dryer Tile, Carpeting wall to wall, A/C,
Security deposit Not available - $200 off first months rent
Layout of the
apartment
Separate kitchen, dining area, outdoor space
(patio, balcony)
Eat-in kitchen, separate living room, 2
bedrooms, 2
nd
floor
Pictures

Utilities included
(water, garbage,
electric, heat, etc.)
Gas, Heat, Water, Trash Heat and water
Parking Street parking and parking lot Street parking
Pet policies Cats & small dogs allowed; must be
spayed/neutered, cats declawed one time fee
of &200 per pet. Max 2 pets
Not available
Other costs none electric
Other interesting
information
Ceiling fans & window coverings included Walking distance to beach, boardwalk and
downtown
Roommate(s) or
Alone
1 roommate 1 roommate
5. Now compare your two options. Which one would you prefer to live in? Why did you decide on this apartment?

I would choose to live in the one on 509 East 7
th
Street its right in Ocean City and close to shopping, beach and
downtown very convenient. It also costs a little less.

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 = ___$22,426.50____
ii. Then, find how much you will take home per month by dividing that number by 12 =
____$1871.88______
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = ____$561.60____
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? Yes
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 = _$10,500______
ii. Then, find how much you will take home per month by dividing that number by 12 = _$875_______
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = __$262.50______
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? No too much money beyond my income per month
vi. If no could you afford the apartment with a roommate? No still too much
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 = $47,250___
ii. Then, find how much you will take home per month by dividing that number by 12 =
___$3937.50_______
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = _$1181.25_______
iv. Is the rent for the apartment less than what you calculated in the line above? Yes
v. If yes is this a good idea? Why? Yes, I can afford it, especially with a roommate with money left
over
vi. If no could you afford the apartment with a roommate?