Post # 1
How much of your after-tax salary do you spend on your housing?
how big your housing is/what type of housing
and the percentage your payment is compared to your combined salaries.
You only have to include actual dollar amounts if you want to. Otherwise, just a percentage will suffice.
Example: My FI and I live in a 1 bedroom apartment. We rent and live just outside Manhattan. Our rent for a 1 bedroom is just under 25% (or 1/4) of our after-tax combined salaries.
How about you, Bees? Where do you live, how much do you spend on housing as a percentage of your combined after-tax salaries?
Post # 3
Mr CL and I live in Southwest England. We currently rent a two bedroom flat for around 30% of our combined salaries. The percentage will be much lower once I start my new job!
Post # 4
We live in a “green” luxury loft building outside of Boston MA, we have 1,500 square feet with 2 beds and 2 baths, and we use 45% of our salary on the apartment (including all utilities, parking garage, pet fees).
Post # 5
Ours is 30% for a 3 bedroom home in the Boston suburbs. It’s higher than I would like, but it’s still less than we were paying for rent in Boston. At least now we own something.
Post # 6
We live in the East Bay (outside San Fran).
We live in a two bedroom townhouse/condo that we rent.
We pay about 11% of our take home (this means after health insurance, taxes and 15% of DH’s income goes to a 401K pretax)
Post # 7
- Wedding: October 2011 - Bed & Breakfast
We own a 2200 square foot house will full unfinished basement on 5 acres in the Washington DC metro area. Our monthly payment (p&i, taxes, homeowners insurance) is 19-20% of our takehome pay (after taxes, retirement fund contributions, medical/dental/vision insurance, and charitable contributions are deducted). If we excluded all of those deductions and only looked at taxes, we’d probably at 15-16%.
Note: We intentionally kept our housing payment low so that we could afford to live on one salary, if necessary. We also saved for a very long time to put down a big down payment and spent 18 months looking for the right house at the right price.
Post # 8
We’re about the 10-12% range I believe. We rent a 1 bedroom apartment in downtown Chicago. 800 square feet. We are saving up to buy a condo.
Post # 9
Our mortgage is almost 35% of our take home salary. We have a 1600 square foot 3 bed, 2.5 bath townhouse in the northwest suburbs of Chicago.
Post # 10
We live in Columbus, Ohio. We own a 4 bed 2.5 bath home (2,600 sq ft) with a small lot in a nice (but not the BEST possible) neighborhood. Our mortgage + PMI + real estate taxes + insurance = 21% of our after-tax salaries.
Post # 11
We live in an immediate eastside suburb of Seattle. Our mortgage is 30%, exactly. 1600sqft 3br 2ba.
Post # 12
- Wedding: October 2012 - Watch tower lodge, Black hawk state Park Rock Island, IL
i live in a trailer…in Iowa. I paid 700 bucks in cash for it (yes 700) cause the guy was crazy and for whatever reason needed to sell uber fast( we did A LOT of work to it) i pay 260 dollars for lot rent per month….and 150 a year in property taxes…its a three bedroom trailer used to have 1.5 bathrooms but we gutted the small one and expanded a bedroom so we have one bath..living room and good sized kitchen. good size deck/porch on the front.we have a shed and a playhouse built on the lot also..and a small yard. we gutted and remodled the bathroom, and layed hardwood floors in it. also remodled kitchen and we are now working on bedrooms, by the time were done and ready to move we will sell for 10000
Post # 13
Just under 20% of our combined take-home for mortgage and common fees on a one-bedroom apartment in NYC (washington heights).
sorta makes me wonder where the rest of our money goes… 🙂
Post # 14
We own a 1 bedroom condo (930 sq. feet) in a pricey Boston neighborhood.
The mortgage is paid off so between the monthly condo fee (recently raised 25%!) and property taxes we probably pay just under 10% of our combined monthly after-tax income.
Post # 15
Maryland. 1500 sq/ft townhouse, 3 bed, 2.5 bath. INCLUDING our HOA fees 26% of our after tax income goes to the house/mortgage.
Post # 16
Our mortgage is a little under 12% of our combined take-home. Council tax isn’t really equivalent to property tax but that’s about another 3% and our home insurance is about 0.3% of our annual take-home.
So in total it comes to about 15% of our take-home.
We live in a 3 bedroom, 1.5 bathroom house in a decent area of a commuter town. Total floor area is a little over 1000sqft and about a quarter of that is the master bedroom (which is why we loved the house).