Renting on one paycheck takes a bit more planning, but it is very doable with a clear budget and the right-sized home. Whether you are a single professional, a single parent, or a household where one partner is the main earner, this guide covers how to set a rent target, trim costs, and prepare a strong application. It is general information, not financial advice, and it does not describe the application criteria at Millington Oaks; ask the office about those directly.

Set a realistic rent target

A common rule of thumb is to keep rent at or below about 30 percent of gross monthly income. It is only a guideline, but it gives you a starting point. Here is how the math looks at Millington Oaks' starting rents:

  • One-bedroom from $875 per month: about $2,917 per month in gross income, or roughly $35,000 per year, at the 30 percent guideline.
  • Two-bedroom from $975 per month: $3,250 per month, or $39,000 per year, at the same guideline.

These are illustrations only, not income requirements, and pricing is subject to change. Our post on budgeting rent to income explains other frameworks, like budgeting from take-home pay.

Build a single-income budget

List fixed costs first

Write down rent, estimated utilities, internet, phone, insurance, car payment, and minimum debt payments. These are the bills that come every month regardless.

Then variable costs

Groceries, fuel, household supplies, and personal spending can flex. Track them for a month to see your real numbers.

Protect an emergency fund

With one income, a cushion matters even more. A goal many people use is several months of essential expenses, built a little at a time. Even a small automatic transfer each payday adds up.

Choose the right-sized home

The simplest way to lower housing costs is to rent only the space you need. At Millington Oaks, the one-bedroom starts $100 per month below the two-bedroom, a difference of $1,200 over a year at starting rents. For one person or a couple, a 750-square-foot one-bedroom can be plenty; see making 750 square feet feel like home.

A single parent may need the second bedroom for a child, which is where the 850-square-foot two-bedroom fits. Our post on moving to Millington with a family has more on that.

Cut everyday costs

Commute

Transportation is often the second-biggest expense after housing. Living closer to work can reduce fuel and wear on your car. If you work at NSA Mid-South, see apartments near NSA Mid-South; for jobs elsewhere in the metro, see apartments near Memphis.

Food

Cooking at home and planning meals saves money. Our guide to meal prep in a small kitchen has practical ideas.

Utilities and subscriptions

Review streaming services and phone plans once a year, and use energy-saving habits at home. Ask the office which utilities you will set up yourself so you can budget accurately.

Prepare a strong application

On one income, a well-organized application helps the process go smoothly.

  • Gather recent pay stubs or other proof of income.
  • If you have other regular income, such as benefits or support, have documentation ready.
  • Collect rental history and references.
  • Review your credit report for errors before applying.

Our post on preparing your credit and documents covers each step, and the applying at Millington Oaks guide explains our process.

Plan move-in costs

At Millington Oaks, the application fee is $50 and the security deposit is $250, plus first month's rent; other charges can apply. Saving for these ahead of time keeps the move from straining your budget. See our move-in costs breakdown.

Explore affordable options

If staying on budget is your top priority, visit our affordable apartments in Millington page, compare the floor plans, and schedule a tour at 4945 Navy Rd, Millington, TN 38053. Have questions? Call (901) 878-0733 or email [email protected]. When you are ready, apply now online.