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ApartmentSearch_Tax-DayApril 15 is a wake-up call for many of us. It is a time when we re-evaluate our finances, determining where we are spending our money and how we can save more of it. Unfortunately, for those who live in a home, the “saving money” part of the equation seems elusive. Every time they feel like they are making progress on bills and savings accounts, some new expense comes along to hamper their goals. An appliance stops working. A water pipe breaks and floods the carpet or wood flooring. The sod has to be replaced after a rough winter and pressure from the HOA.

There is an endless list of unplanned-for expenses that pile up. And these are not even the regular, monthly expenses. In addition to high utility costs, homeowners are paying mortgages, property taxes, lawn and landscaping fees, and a host of other home repair and upkeep expenses. The burden of mortgages – which are still disproportionately high after the housing bubble burst – and the other expenses is what has led many homeowners to switch to apartment living.

Golden Gate Bridge in San FranciscoRent is one of the many expenses that can vary quite a bit depending on where you live. And the more expensive it gets, the more important it becomes to find the right place the first time. Here are some helpful tips to help you find an apartment in some of the more expensive cities in the U.S.

Los Angeles, California

  • Median studio apartment: $1,405
  • Median one-bedroom apartment: $1,740
  • Median two-bedroom apartment: $2,406

If you want to get an apartment in LA, the first thing you need to understand is your budget. You shouldn’t be spending more than 1/40th of your annual gross income on an apartment. So if you are making only $40,000/year before taxes, you need an apartment that costs less than $1,000 a month. The choices in this price range will be limited, so you may need creative alternatives such as finding one (or multiple) roommates.