Are you a millennial sick of an annoying roommate? Stick it out, because it’s saving you bundles.
A recent report by online housing resource site Trulia shows just how much. In nearly half of the 25 largest markets, millennials need to spend more than 30% of their income, the upper limit of what experts recommend, to nab a typical one-bedroom apartment. By sharing a two-bedroom abode, you’re putting yourself in a much safer financial position.
For example, Trulia pegs a normal one-bedroom in Miami, Fla. renting for $1,800 a month, while the average millennial earns $40,000. That means you’d have to fork over more than half your salary to live by yourself. If you moved into a three-bedroom, you’d save about $713 a month on rent.
San Francisco renters save more than $1,000 by shifting from a one-bedroom to two and in Boston, renters put an additional $774 in their pocket.
The trade off, of course, is less privacy, more awkward conversations about who should clean the bathroom and a higher threshold for passive aggressive silence. But there isn’t really that much choice: It’s either live close to your parents or big expensive cities, where the jobs are.
Check out the full study below: