Curiosity thread....rent/mortgage to gross monthly pay ratio

[BlueWeasel]

North Mississippi (Tupelo)
Mortgage, taxes, insurance (including PMI) comes out to 25% of my gross pay
Taking into account my wife's income, it drops to 13% of our combined gross pay

 

[oddyager]

Living by myself here in NYC. Rent consumes 20% of my gross income.

 

[Kadarin]

15%, out of San Jose, CA.

 

[MixMasterTang]

15% of My Income+Wife's income for Kansas City Metro area. That includes Principle, Interest, Taxes and Insurance for our Mortgage

 

[SophalotJack]

Originally posted by: NetWareHead
Mortgage payment + association fees to condo + prop taxes + insurance = 54% of reported income.

Single, in school, full time job living in Northeast NJ.

pwned?

 

[Descartes]

7% in Atlanta, GA.

 

[AbsolutDealage]

30.4%, just outside Chicago. DINKs.

 

[brtspears2]

49%. Mortgage, HOA, property taxes, insurance for condo.

 

[SearchMaster]

About 25% I think. We'll have the house paid off about the same time the youngest is old enough for school and my wife goes back to work - I'm gonna feel like Donald Trump!

 

[homestarmy]

Most of you have no idea how lucky you have it.

About 47% of take home pay here. Central Florida.

New home.

Was unbelievably much higher when I moved in due to crappier job.

 

[spidey07]

about 12% in louisville KY

decent home in a nice neighborhood

 

[ponyo]

About 6% for mortgage, taxes, and insurance.

Atlanta, GA.

 

[Britboy]

9.5%, live in KY

 

[Dunbar]

Originally posted by: homestarmy
About 47% of take home pay here. Central Florida.

Did you miss the part about gross pay?

 

[z42]

35% in Bay Area, CA.

Wife and I both working.

 

[batmang]

right now its 19%, renting. tucson az.
when our house is done in december, 44% of our income is going to the house payment/taxes/insurance etc.
(we make about $4300 a month after taxes. house payment will be $1900)

 

[z42]

Originally posted by: Dunbar

Originally posted by: homestarmy
About 47% of take home pay here. Central Florida.

Did you miss the part about gross pay?

Also applies to batmang

 

[batmang]

doh, i missed that.

 

[TheNinja]

How the hell do you people in the Bay Area have a percentage under 40%? Did you buy a long time ago or do you just make a ton of cash?

 

[Riverhound777]

13.3% renting bedroom in 5bed house in central CA.

 

[T9D]

Less than 1%

I hate debt. And I find I get a lot farther ahead a lot faster without paying interest. and live quite simply. No kids, not married.

I have no morgage because my home I bought with cash. I have other properties I bought with cash. I have a BMW that I have totally paid off.

 

[DCFife]

14.01% inc. tax/insurance in northern VA.

 

[mattpegher]

About 40% mortgage,insurance and taxes here in NJ
but taxes in my town are 2.4% of current market value (no difference between my assesment and what my neighbor sold for) and the keep it current every year or so.

A few miles away there is a house assessed at 2.5 mil and he pays 60k in taxes anually.

 

[bunker]

22%

 

[Dirigible]

26%. Bay Area, CA. Single dude, single income.

Originally posted by: TheNinja
How the hell do you people in the Bay Area have a percentage under 40%? Did you buy a long time ago or do you just make a ton of cash?

When I bought it, it was above 40% my gross income. My income's gone significantly up since then. Plus, I refinanced at a 30-year fixed lower interest rate, so my payment went down. Double bonus, to result in the reduced (but still a lot of cash) percentage of income.

Prices have gone up so much since I bought that I count myself lucky I got in when I did. No sign of prices dropping in my neighborhood either.