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Cost of housing for renters

G

Goosemaster

Lifer
In my case I am looking in certain parts of D.C. and Arlington, but was interested to see what percentage out of their incomes people devote to rent.


[location/percentage]

Currently looking at a place in D.C the will have me @ 30%

My situation🙁
 
I just confirmed that mine will be 30% :Q

It's a family property that I will take initially take over/eventually own so while it will be a LOT of money I will be living well and it will be an investment instead of money down the drain. 2 bedroom in heart of town😀 Transportation costs go down from about $300-400 a month to $40😀, cable an internet decreases by 50% (at least), my gym membership is $10 instead of $50, and a whole host of other goodies.

Wish me luck😀


edit: also I think Fios is coming into the area:Q Tee cable company already does 15Mbps so either way it's all good...😀
 
7.5% was rent, about 33% for my mortgage.

I couldn't take renting anymore and decided to pay to play a year ago. I didn't do too bad, although I paid about $10-15k high, I also had that money come back in paying off debts and stuff. Seller didn't see how it netted him the same and just wanted that selling price for whatever reason.
 
~20%, but if you include oil (heat), it's closer to 30%.

A lot of you must make a ton of money. :Q
 
Mine is ~10% after taxes. As for the statement about people making alot of money here, thats definitely true to some extend, but its also true that alot of us are single guys so are we need are 1 bedroom apartments. I could certainlly afford a larger apartment, but I really don't need one so I just save the money away now for when (or if 🙁) I get married.
 
Originally posted by: BrownTown
Mine is ~10% after taxes. As for the statement about people making alot of money here, thats definitely true to some extend, but its also true that alot of us are single guys so are we need are 1 bedroom apartments. I could certainlly afford a larger apartment, but I really don't need one so I just save the money away now for when (or if 🙁) I get married.
Click to expand...

Yep. I make a decent living, but nothing ridiculous. I live in a 3 bedroom townhouse with 2 other guys and only pay $370 a month rent 🙂
 
Originally posted by: bignateyk
Originally posted by: BrownTown
Mine is ~10% after taxes. As for the statement about people making alot of money here, thats definitely true to some extend, but its also true that alot of us are single guys so are we need are 1 bedroom apartments. I could certainlly afford a larger apartment, but I really don't need one so I just save the money away now for when (or if 🙁) I get married.
Click to expand...

Yep. I make a decent living, but nothing ridiculous. I live in a 3 bedroom townhouse with 2 other guys and only pay $370 a month rent 🙂
Click to expand...

wow...awesome price. I found a bunch of places like that (comparatively @ 600+) but they all got snatched up too quickly.🙁

I found some great places in D.C. too (in a good location) but even for a shared approaching sardine status I was looking at a grand. we are talking 4 block from EVERYTHING in D.C...problem is I wouldn't have much left to spend after bills and other financial responsibilities🙁

My main problem with sharing has been that I have always had the "serious and brutal" major when all my friends are chasing tail and have it easy with more socially-appreciative and socially-amicable majors. This has led to major problems and I'd rather have my own place to read and study and go to their places to get wasted instead of having to crawl over a bunch of drunks to get into my damn kitchen, clean up the night's beer pong festivities, and try to study without getting beer on my textbooks. Now with a full time job that pushes 50+hrs a week my time is that much more valuable, and 30% of my income is worth the peace, quiet, and freedom of my own place.

damn those parties were sweet though...even if I tried not to be there....
 
Originally posted by: senseamp
Silicon Valley, 10% now that landlord raised rent 🙁
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Are you married? I live alone in Sunnyvale in a 2 bedroom apt and pay about 27% of my take home for my rent.
 
Originally posted by: Goosemaster
In my case I am looking in certain parts of D.C. and Arlington, but was interested to see what percentage out of their incomes people devote to rent.


[location/percentage]

Currently looking at a place in D.C the will have me @ 30%

My situation🙁
Click to expand...

hm..

Northern VA:

mortgage $1k/month
property taxes 250/month
homeowners insurance 50/month
maintenance/upkeep $???

how much should you spend/allocate on maintenance/upkeep?
 
Originally posted by: JEDI
Originally posted by: Goosemaster
In my case I am looking in certain parts of D.C. and Arlington, but was interested to see what percentage out of their incomes people devote to rent.


[location/percentage]

Currently looking at a place in D.C the will have me @ 30%

My situation🙁
Click to expand...

hm..

Northern VA:

mortgage $1k/month
property taxes 250/month
homeowners insurance 50/month
maintenance/upkeep $???

how much should you spend/allocate on maintenance/upkeep?
Click to expand...

final cost is ~$1200 / month. As for upkeep I will do some minor painting and cleaning, all of which I have on hand supplies to do. A/C is new, and maintenance is handled by the community.

Basically I am looking at internet, electricity, and food + items here and there.


As for net /gross, I usually go by net without including health care.
 
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