How much rent can I afford on $95k?

A common rule of thumb is the 30% rule, meaning you shouldn't spend more than 30% of your gross monthly income on rent. With a $95k salary, that's roughly $2,375 per month. However, since you're aiming to save aggressively and have minimal debt, you could aim for 25% or even 20%, putting your target rent in the $1,583 - $1,900 range. Given Seattle's rental market, finding a place in that range might require a roommate or looking outside the most popular neighborhoods. Crunch the numbers with your actual take-home pay after taxes to get a precise budget. Also, don't forget to factor in utilities and renter's insurance.

A commonly cited rule is the 30% rule, but in a HCOL area and with aggressive savings goals, that's probably too high. With a $95k salary, your gross monthly income is roughly $7,917. After taxes, healthcare, and retirement contributions, you're likely looking at a net monthly income around $5,000-$5,500, perhaps even lower depending on your tax bracket and healthcare plan. Given your desire to save 20% of your gross income ($1,583/month), I'd aim for rent in the $1,500-$1,800 range. This leaves you with $1,717 - $2,217 for everything else. Track your spending closely for a month to get a clearer picture of your non-rent expenses. You might need to compromise – either reduce your savings rate slightly, move slightly outside of downtown, or look for smaller apartments.