Let’s assume a recent college graduate makes $40,000 after taxes and if 30% or $12,000 of the income is based upon housing , that leaves $28,000 for everything else. On a side note, those whom are less-fortunate than others and or live in government housing, approximately 30% of their income goes towards housing. Nonetheless, these statistics are more accurate for lesser attractable neighborhoods where rent is usually cheaper. Vicinities that are slightly more upscale or have one or two trees, rent will undoubtedly be substantially higher. For instance, apartments in the Tribeca neighborhood listed on http://www.trulia.com start at $2200/ month whereas onhttp://www.Roommatchers.com, they start at $1200/ month. Paying $2200/ month for one year equates to $26,400 leaving a renter with $13,600 for everything else.