I bought a one bedroom in Cleveland Park as a young government lawyer years ago. I would buy (or rent if you do not want to buy) somewhere along the Connecticut Avenue corridor. Great, safe place to live, convenient to everything, on the Metro.

I am also interested in the question of whether or not it is gross or net income when people say "don't spend more than __% of your income on housing." Which one?

I'm pp who cited 2100. Op is right. A good amount of one bedrooms go for more. It's somewhat hard to find that. But it can be done esp if you rent an individually owned condo rather than some fancy new managed building like 425 mass or 14w. Plenty of those condos are nice. It is not uncommon for them to rent from more like 2200 to 2300, however. But the rental market has cooled down a bit over the past six months.

I'd put at least ten percent into retirement. You need to save up an ER fund and a down payment fund additionally however.

Yeah, OP - I'm not sure what the problem is? There are plenty of apartments in great neighborhoods for under $2000. If you're willing to live in a studio you have even more choices.

Examples: https://washingtondc.craigslist.org/doc/apa/4365850633.html

https://washingtondc.craigslist.org/doc/apa/4365869639.html

https://washingtondc.craigslist.org/doc/apa/4365848133.html

https://washingtondc.craigslist.org/doc/apa/4355693948.html

Anonymous wrote:OP here. Thanks PP. Right, DC is a different market than most of the rest of the US. I almost feel like I'm just going to start pretending I live in NYC. I've paid almost all of my 200K loans - tiny bit left at a very low interest rate, and I pay about 250/mo towards them, although they will be gone very soon.

I take home about 6000/mo (not including the two extra months a year when I get three paychecks) - while contributing enough to retirement to get a match but not maxing it out. With those numbers - just curious what you think would be reasonable. Paying $2100 seems to be getting harder and harder in DC.

Advice from someone who can retire at 58 in part because of it --- max out your TSP from Day 1, it is a "must" IMO to get your retirement benefit up to anything approaching where it might have been under the old system w/ CSRS. Not sure how old you are but 25 yrs. of max. TSP contributions and good investment choices resulted in a high six figure TSP account to draw on.

Pay yourself first.

Anonymous wrote:OP here. Thanks PP. Right, DC is a different market than most of the rest of the US. I almost feel like I'm just going to start pretending I live in NYC. I've paid almost all of my 200K loans - tiny bit left at a very low interest rate, and I pay about 250/mo towards them, although they will be gone very soon.

I take home about 6000/mo (not including the two extra months a year when I get three paychecks) - while contributing enough to retirement to get a match but not maxing it out. With those numbers - just curious what you think would be reasonable. Paying $2100 seems to be getting harder and harder in DC.

Where are you looking OP?

There are plenty of nice, some new, 1brs for $2100! Maybe not in Kalorama or City Center, but huh??

OP here. Thanks PP. Right, DC is a different market than most of the rest of the US. I almost feel like I'm just going to start pretending I live in NYC. I've paid almost all of my 200K loans - tiny bit left at a very low interest rate, and I pay about 250/mo towards them, although they will be gone very soon.

I take home about 6000/mo (not including the two extra months a year when I get three paychecks) - while contributing enough to retirement to get a match but not maxing it out. With those numbers - just curious what you think would be reasonable. Paying $2100 seems to be getting harder and harder in DC.

Live in a good neighborhood in dc. I've never paid less than fifty percent of my takehome in rent in this town. The thirty percent is unrealistic.

You're probably at least a gs 14, right? Have you paid off your loans? If so, you take home maybe 5000 a month. Try to keep your rent at 2100 or less. That's doable in dc right now. If you are still paying loans, rent a studio for 1800 or less.

Live in the city. No doubt. But maybe you should rent a studio.

Agree to live where you feel comfortable and can afford. But have a plan. Meet with a financial planner and talk about financial goals within a timeline. That way, you're also planning for the future, which may include eventually moving farther away and purchasing a home.

Agree with PPs: live where you will be most happy! One day it likely won't be so easy for up to go out and socialize all the time so take advantage on this while you can!

OP here. Thanks so much for the replies. And to the PP, I've never thought of it that way, but that's a good way to look at it

OP, I'm a SAHM now but used to be single and worked in BigLaw and renting, etc. Go for the location--you have more of a chance of meeting friends and a potential spouse that are similarly situated. Think of the extra money as an investment--in your future life.

And I'm a huge "saver" and try and live within my means. But some things ARE investments and you shouldn't solely live for delay gratification, esp. when doing so compromises not just your current situation but chances of a better future situation.

If I were you I would spend on a place where you're happy and will have the time and options you want so that you CAN go out and socialize in the evenings. Trust me, if you go live out in Dunn Loring, no one is going to want to come out there. You will spend a lot of money on cabs and Uber and a lot of time in your car. If you made it out of the BigLaw grind, reward yourself. You don't have to be a miser. Sacrifice on the size of your place, not the location. Congratulations!

Hi - I recently took a hefty pay cut to make the move from biglaw to government. I've worked on getting rid of a lot of expenses but am now trying to decide where to live. I'm used to living in the city in a safe and clean managed building. However - I'm now trying to find a new 1BDR to live in (previous apartment is definitely too pricey) and I feel like I can't afford anything. I'm a single female, and above the age where I'd like to have a roommate. I'm trying to rationalize spending a decent amount of money to just live in a building that I like in a neighborhood that is safe and convenient to the metro. I could move further out but part of the reason I went to the government was to have more time to socialize and date and all my friends are in the city, so living further out would seem to make that more difficult. I'm also very conservative when it comes to safety and although there are some great buildings in up and coming neighborhoods I don't think I'd personally feel comfortable living there.

So, I guess my question - is, does it ever make sense to pay more than maybe you should (I wouldn't go broke and would still be able to contribute to retirement and save a tiny bit of money) for a place you actually want to live if you think it will make your day to day life better? Common sense says I should suck it up and live in something cheaper - but I just know I'll hate it. (I've tried it before). I know I'm lucky to even make this choice since many people don't even have the option or have kids to take into consideration. I also realize I might just sound like another spoiled person complaining that they can't have everything. Just looking for some advice one way or the other. I'm also thinking government might not be forever, so it's possible in a few years my income will go back up, but of course I can't really count on that.

I've always heard not to spend more than 30/35% of your pay on rent -- do people usually calculate this based on gross income or take home or net after taxes (but not including retirement)?

Thanks in advance.