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

[Mellman]

Originally posted by: Cutterhead
35% Northern VA

mine will be about that, give or take a few %...

Northern va sucks for housing costs!

 

[ElFenix]

20% in houston

 

[her209]

14.9% Renting a room in SoCal

 

[Turin39789]

Doing the math right this time, Mine's 16%

Lexington Ky

 

[TXHokie]

Originally posted by: Mellman

Originally posted by: Cutterhead
35% Northern VA

mine will be about that, give or take a few %...

Northern va sucks for housing costs!

Used to be single in NoVa and it was 32%

Now in Dallas, supporting stay at home mom and kids, and it's 24% (that's why I moved)

 

[iamwiz82]

21.9%

 

[jEnus]

28.4 Boise, Idaho

 

[Slew Foot]

About 5%, renting in Sacramento and watching in glee as prices tumble 🙂

 

[BurnItDwn]

My mortgage + taxes + homeowners insurance is at around 25% of my gross income ... My mortgage has a variable rate, and it's going to go up pretty soon, so I might be around 27-28% in a few months.

I live in Streamwood, IL (Chicago area)

 

[BornStar]

33.5% renting in the suburbs of Detroit. I'm married but am the only one working at this point.

 

[CaffeineAndStuff]

Bay Area - currently 12% but moving to a cheaper apartment soon - will be 6.3% then (this is combined income).
Trying to save up downpayments so we were looking for something cheaper.

 

[jmcoreymv]

Bay Area - 11.2%.

 

[Kelnoen]

I don't get it, when you say 20% do you mean for example 'My gross income is 1000 a month and my rent/mortgage is 200'???

If so my ratio would be about 52% for rent and 11.5% tax 🙁

 

[b0mbrman]

Hmm...

Most recently I lived in one unit of a 4-plex that I own and rented out the other three...

Net rent (after interest, net taxes, insurance, and all other costs) as a percentage of gross income hovers between 0 and 5% 😛

Of course, in terms of opportunity cost of not renting out one unit, it's slightly more.

[Edit] Texas

 

[Dunbar]

28% 1BR aparment, living alone

SoCal (IE)

 

[homercles337]

18.6%. Rent is cheap for my location (Boston/Cambridge) and my income is higher than the average/median.

 

[shopbruin]

49.6%, 1 BR, west LA.

 

[scherbz]

25% if my roomate pays me his half of the rent. All utilities except TV, phone and Internet are apart of rent so that is nice.

Downtown Minneapolis

 

[cKGunslinger]

23% (mortgage + PMI + escrow)

Single income, 4-member family

North Texas

 

[KK]

~11.5% on a 15 year.

 

[Metron]

13%, 2 BR, 2 story townhouse in Dallas, TX
Cost includes Mortgage, Insurance, and HOA dues

 

[amdskip]

1 bedroom apartment for myself, 18%.

I also get free classes on top of this so technically it's lower than that.

 

[Dr. Detroit]

We rent a 3bdrm Apt. and refuse to jump into the crazy Cali housing market and are very content in our 1200sq ft 3/2 Apt. 2-adults 1 child.

9.8%

 

[JS80]

12% renting in West Los Angeles

 

[ZetaEpyon]

11.8% - 1br apartment, western Wisconsin
My student loans payments are far more. 🙁