(Closed) NWR-Are we paying to much for rent? What % do you pay for rent/mortgage??

posted 6 years ago in Money
  • poll: What percentage of your income goes to rent/mortgage
    20-25% : (30 votes)
    34 %
    25-30% : (26 votes)
    29 %
    30-35% : (18 votes)
    20 %
    35-40% : (7 votes)
    8 %
    >40% : (8 votes)
    9 %
  • Post # 4
    14498 posts
    Honey Beekeeper
    • Wedding: June 2011

    Less than 10%

    Post # 5
    4466 posts
    Honey bee
    • Wedding: June 2010

    We spend about 30% but we rent in NYC.  Therefore, we have no car payments, no car insurance, no gas, and we don’t pay for heat or hot water.

    Post # 6
    2401 posts
    Buzzing bee
    • Wedding: September 2013

    I always heard between 20-30% of your monthly pay should go to rent when you live in an urban area. In Chicago, it’s pretty typically to pay between 30-40% (we pay 35%).

    Post # 8
    1925 posts
    Buzzing bee
    • Wedding: May 2013

    My Fiance and I are graduate students so we don’t have an income.  When I did last year, I made around $2000 per month and paid $700 for rent (total 1400 for a one bedroom… ugh).  That makes it 35% of my income to rent.  I guess that’s what happens when you live in Los Angeles, particularly on the west side.

    Post # 9
    6124 posts
    Bee Keeper
    • Wedding: August 2012

    We’re actually at 18.9% of our take home income!  You might need some extra categories in your poll.

    We live in Utah, the house is two story 6 bd, 3 ba.  With utilities (not cable and internet, those are perks), the percentage is 22%.

    Utah is pretty affordable.


    When I lived on my own, in my own house while going to school, my ratio was actually 53% and I made it work.  I had no cable, auto payments, etc.

    Post # 9
    352 posts
    Helper bee
    • Wedding: March 2012

    We spend 14% of our combine income on our mortgage…..BUT our utilities are high, we live IN Boston itself, not a suburb….in the city itself.  Car insurance alone is $2550 a year for basic coverage…..

    Post # 10
    5547 posts
    Bee Keeper
    • Wedding: December 2011

    Almost half… but we are super broke. 🙁 Not that we live in an exspensive area, its actually quite cheap, but when we both only work part time because we are full time students rent is a lot.

    Post # 11
    339 posts
    Helper bee
    • Wedding: June 2012

    How much you pay is not a percentage of your income. You have to look at comps. If you live in a city rent will be higher if your utilitys are included or not effect it. You just cant compare across the board. For a honest opinion on weather or not you are paying too much you would have to tell us were you live, if utilitys are included, how many bedrooms and what kinda upgrades you may have(parking,storage ect).

    Between Fiance and I we bring in about 3200 a month in and we pay 950 a month for our lease option. But we live in ohio in a house and pay all our own utilitys. This number will go down about 300 a month after we fufill out lease option and buy our house.

    Post # 12
    352 posts
    Helper bee
    • Wedding: March 2012

    @Gavinsmamma:  you are right, its all a matter of where you live.  I was always taught that you should be able to pay your full mortgage on on paycheck.  We were lucky to get a 1300 sq ft townhouse in Boston for the price we did, we know that!

    Post # 13
    10288 posts
    Sugar Beekeeper
    • Wedding: October 2011

    Currently 25% but it will drop down to less than 15% after Darling Husband accepts his new job. Our rent is VERY high for our area which is why we spend more than 20% of our income on housing. We could easily live somewhere less expensive but neither of us are willing to sacrifice all of the amenities that we’ve grown accustomed to.

    Post # 14
    996 posts
    Busy bee
    • Wedding: September 2009

    13% …which makes me sad thinking of where all the other money is going.

    Post # 15
    5668 posts
    Bee Keeper

    I think we’re at about 13% for our rent.

    The topic ‘NWR-Are we paying to much for rent? What % do you pay for rent/mortgage??’ is closed to new replies.

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