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

[CTrain]

21% of my gross income including taxes and insurance.
6.25% if you include my sister paying my rent 🙂

 

[Dr. Detroit]

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?

This does not apply to me as I do not own,

but most at my work are in the 50%+ range provided their wives do not work. Remember, approximately 25% of your mortgage+property taxes are covered by the tax effect as you now have a huge writeoff on your 1040. So house payment + taxes = $5K/month. You actually only lose $3,750 of your check as the rest will come from upping your deductions.

If you are a college grad 3-5 yrs out of college and are married to a college grad 3-5 yrs out of college there is no doubt you are pulling at least $150K in income a year.

Engineer with 5yrs of experience = $110K Wife who is a teacher of 3yrs = $45K

Finance guy 3yrs out of college $75K Wife - Accountant 3yrs out of college $75K

 

[Wonderful Pork]

Boston area, spend ~50% gross on rent/utilities/cable per month. Moving to a place that reduces it to ~33% a month. However, I've never spent less on rent, so I dont really miss the money i've never had. After moving I'm going to be saving/investing that extra 17% a month.

 

[HardcoreRobot]

~11%

NOVA

rent a room in a townhouse

 

[BatmanNate]

Exactly 33.3% with just my gross pay. My wife is still in school and her income is inconsistant. It would probably be around 25% for both of us. WA state, south sound area.

 

[BoomerD]

My wife hasn[t worked in many years. Before I got hurt, our monthly mortgage & insurance ran about 12-15% of my gross. Now that I'm on disability, it runs about 25%. Keep trying to convince her she needs to go back to work...She keeps threatening to stop cooking....
She wins...

edit...sorry...Modesto, Ca.

 

[puffff]

60% of my gross pay goes towards mortgage/RE tax/common charges. Yes, that's a helluva lot. I live in midtown manhattan. I get by, but just barely.

 

[DrPizza]

I figured it out as a percent of my wife's and my combined gross monthly income:

3.13% (excluding property taxes and insurance which are escrolled)
rural area of western NY.

 

[CTrain]

Originally posted by: puffff
60% of my gross pay goes towards mortgage/RE tax/common charges. Yes, that's a helluva lot. I live in midtown manhattan. I get by, but just barely.

You barely get by but you traveled the world.
You have everyone beat 🙂

 

[erub]

56% of my gross income goes to rent/cable/internet/water/gas, but I am getting a free 20K yearly education..so really much lower..

or you could look at it as 0% of my gross goes to my rent, as my parents are paying that portion, and i keep my paltry TA salary

Atlanta, GA

 

[IamDavid]

15.4% paying off someone elses mortgage. 🙁 Livin in a decent house in what has to be the most assbackwards state of Arkansas. Hope to be buying on soon..

 

[homestarmy]

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?

Oops! For some reason, my mind thought NET PAY!

Using my gross pay, it is about 38%. Still pretty crazy though.

Thanks for calling me out! 🙂

 

[iamwiz82]

Originally posted by: CTrain

Originally posted by: puffff
60% of my gross pay goes towards mortgage/RE tax/common charges. Yes, that's a helluva lot. I live in midtown manhattan. I get by, but just barely.

You barely get by but you traveled the world.
You have everyone beat 🙂

You won't be on your death bed saying "Man, my bank account could have been bigger." :thumbsup:

 

[homestarmy]

Originally posted by: tk109
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.

How much do you make a year? Not all of us have that opportunity.

 

[imported_griffis]

22% of Gross income for Fiance and I

 

[NetWareHead]

Originally posted by: 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?

Reported income being the key word here 😉

 

[Descartes]

Originally posted by: NetWareHead

Originally posted by: 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?

Reported income being the key word here 😉

Practically admitting to tax fraud ftl? 😀

 

[Kev]

17.4%

 

[Journer]

45% of my money goes to rent :'( al though i dont make (err...get from loans) very much 😛 i'm still under rent's insruance and other stuff, so its not that big of a deal i guess

 

[DT4K]

28%
In Charlotte, NC on a new 3500 sq. ft house.
Which is about the same percentage we were spending on our previous 1500 sq. ft house in Southern Oregon.

 

[Pabster]

About 9% out here in good old Iowa. 😀

 

[rivan]

~19% - 4 BR house in a upper middle neighborhood, Webster Groves, Missouri.

It's our first house together, but each had houses with solid equity before the marriage.

 

[oslama]

12% on rent for a 2 bdrm in KS

10% on car payment

10% on food (vegeterian diet)

5% on cell phone

5% on utilities (cable + electric)

20% CC bills

I and My GF on @ 55K / yr

 

[KillerCharlie]

I'm looking for a new place to live, but right now I'm at 17.4% and I'll probably end up more like 20% renting an apartment. Stupid Seattle... I miss the midwest where housing prices aren't ridiculous and people know how to drive. At least there's no income tax.

 

[Sphexi]

29% right now, but the wife is on maternity leave, so her pay is cut in half basically. Once she goes back to work it'll drop to 21%.