Kisumu is one of the cities in Kenya and among the cheapest places to live in Kenya. The house you will rent is based on the size and location,also your income.
Bedsitter goes for Ksh 5,000 to Ksh 8,000,one bedroom house goes for Ksh 7,000 to Ksh 13,000 while two-bedroom house will go for Ksh15,000 to Ksh25,000. If you have a large family, you will need a three-bedroom house. Normally, rent for 3-bedroom house goes for Ksh 25,000 to Ksh40,000.
Below is the rent amount to pay based on salary:
Salary Rent amount
Ksh 20,000 —Ksh 3,000 to Ksh4,500
Ksh 30,000—-Ksh 5,500 to Ksh7,000
Ksh 40,000—Ksh 6,500 to Ksh 8,000
Ksh 50,000—Ksh 8,000 to Ksh10,000
Ksh 60,000—Ksh 8,500 to Ksh 11,000
Ksh70,000—Ksh 9,000 to Ksh12,000
Ksh 80,000—Ksh 8,500 to Ksh 12,500
Ksh 90,000—Ksh 10,000 to Ksh 13,500
Ksh100,000—Ksh 13,000 to Ksh 18,000
Ksh 120,000—Ksh 15,000 to Ksh20,000
Ksh 150,000—Ksh 18,000 to Ksh25,000
Ksh 180,000—Ksh 20,000 to Ksh30,000
Ksh 200,000—Ksh 25,000 to Ksh35,000
Ksh300,0000—Ksh 27,000 to Ksh 40,000
Ksh500,000—Ksh 50,000 to Ksh70,000
When paying rent, ensure it doesn’t go past 1/3 of your income. You have to remain with money to save and invest. For insance, if your salary is Ksh 100,000, it’s good to remain with Ksh 30,000 to Ksh50,000 every month to save.
If you save Ksh 30,000 in Money Market Fund, you will earn annual interest of 8% to 18%. Assuming interest per year is 10%, your savings will earn Ksh 35,000 and above per year.
