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Rent $$$ question

J

jst0ney

Platinum Member
What percentage of my take home income should go towards rent? I know that I sould buy and I will after a year at my job I just need something now.

 
33% or less and you're doing good, IMO. it also depends on what other kind of bills you have, though (car, insurance, etc).

my roommate and I each pay 25% of our monthly income towards rent. I live much more comfortably, though, on account of the fact that both my car and student loans got paid off before I moved out of my parents' house.
 
I wish my percentage could be that low again, being out of a job sucks. I currently pay about 50% on rent, I'd probably move if I didn't have a new lease, with a bad cancellation clause. So I'm sticking it out, living off unemployment and savings right now, until I can get back into the work force.
 
holy crap, you guys pay practically nothing in rent! 1150 a month for a tiny studio...of course i live in nyc. but still...
 
I'd say the MAXIMUM should be 33%. If you're trying to save up to buy a house in the near future, then 20% seems like a very good number.
 
I think the answer really depends on where you are in the US. Places like LA, NY, SF, housing cost a lot more than 33% if you plan to live on your own. Live with friends, your SO, etc. will bring the rent (utils too) down.
 
I was paying 80% now that I bought a place it's 40%.

If you factor in my wife's income those change to 20% and 10% repectivly. (Yes my wife makes 3 times what I do 😱)
 
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