What % of your salary do you spend on rent?

[fallinlove]

Just wondering what percent of people's (gross) salary goes to rent.

Also, do you live alone or with another person roomates?

Anyway, for me it's about 33%. And I live alone. And I live in a big, expensive city.

Sometimes I wonder if we are making horrendous financial mistakes by living in the center of a large, expensive city.

 

[pat grimshaw]

Everyone says 30 to 40%.

 

[luckynumbah7]

The house payment/insurance-for/ect is split in half, my portion takes half the monthly funds. I'm listed as single (as m'not married, obv) and I've rented apartments that were more expensive than the total housepayment here. Medicaid is due for an update if the rest of you are paying 33-40 percent, if I wanted to pay the whole thing I'd have maybe forty bucks left over. That's not counting utilities.

-I mean, I knew it was bad, but 30-40 percent, that's it??

 

[peeonme]

I pay 18% on lot rent for my mobile home.

 

[NotHardUp1]

I've always been told that the index that is significant for housing was over one's available income, meaning net. My housing is 39.6% of my take home pay.

I live alone.

 

[TickTockMan]

How do I figure it out? I can't remember how to do it anymore.

 

[zombiekiller]

Mortgage + homeowner's insurance + property tax = 15% of my monthly take home pay.

 

[FPNY]

How do I figure it out? I can't remember how to do it anymore.

arithmetic, like grammar is not my forte neither...here's how i would go about it....

figure my take home pay annually
figure my rent annually
divide the smaller number by the larger number..so if your take home is 100 and your rent is 25 you divide 25 divided by 100 giving you 25%

 

[TickTockMan]

arithmetic, like grammar is not my forte neither...here's how i would go about it....

figure my take home pay annually
figure my rent annually
divide the smaller number by the larger number..so if your take home is 100 and your rent is 25 you divide 25 divided by 100 giving you 25%

Thank you.


Mine would be 34%.



Before my accident I was able to do calculus in my head within seconds. Now I am lucky if I can plus and minus anymore. I also have a hard time with grammar and spelling.

 

[zombiekiller]

Mortgage + homeowner's insurance + property tax = 15% of my monthly take home pay.

Forgot to add. Right now, might as well count as I live alone because my boyfriend goes to school and doesn't work. He's home for the summer right now but during the school year he's off to a university.

 

[peeonme]

When I was a teen, the rule of thumb that I was taught is that not anymore than 25% of one's income should go for rent or mortgage payments.
That was net income. Over the years the figure changed from net to gross, then the % started to rise, then it became based on 2 incomes as opposed to one.
Many people in America are house poor.

 

[TickTockMan]

I forgot to add my 34% is just for me.

 

[frankfrank]

Mortgage + homeowner's insurance + property tax = 15% of my monthly take home pay.

And I get around 15%, but I live in a dilapidated old farmhouse.

I am also adding energy costs into it - heating and A/C.

There is no mortgage on it...

 

[medic1]

We spend roughly 25% of our joint income on the mortgage.

 

[LilBit]

If you go by my base salary, my current rent is 17% and in my new place I'll be paying 21%. But in my current place, that doesn't include utilities, while the rent in my new place does. There's also the issue of supplemental pay, which differs from year to year.

Honestly, I was a little surprised to see that the number is so low, because housing costs in Flagstaff are ridiculous, and my salary isn't that great.

 

[unloadonme]

I own my own home and have no mortgage, so I pay 0%.

 

[Devois]

About 42% for a room in a house of six in one of the cheap parts of town. The current alternative is not having a salary, but might change in a few months.

 

[JohnnyAnger]

Close to 50%

 

[jdunbar9]

I have roommates, so only 15% of my income goes to rent. Although I'm going to be moving soon so then, I'm sure the number will change.

 

[Willie Boy]

0%, I own. No, I don't mean I pay a bank/financial institution to live in my home. I mean simply that I own my home...... I pay nothing per month in rent/mortgage because I have no rent or mortgage.