(Closed) What percentage of your paycheck goes to your mortgage/rent?

posted 6 years ago in Home
  • poll: how much of your paycheck goes to your mortgage or rent?
    I own and I spend 10% or less of my take home pay. or i own outright : (11 votes)
    6 %
    I own and I spend 10-25% of my take home pay. : (41 votes)
    23 %
    I own and I spend 25 -50% of my take home pay. : (37 votes)
    21 %
    I own and I spend more than 50% of my take home pay. : (4 votes)
    2 %
    I rent and I spend 10% or less of my take home pay. : (4 votes)
    2 %
    I rent and I spend 10-25% of my take home pay. : (35 votes)
    20 %
    I rent and I spend 25 -50% of my take home pay. : (41 votes)
    23 %
    I rent and I spend more than 50% of my take home pay. : (3 votes)
    2 %
    . : (0 votes)
  • Post # 3
    3176 posts
    Sugar bee
    • Wedding: May 2011

    I voted, rent and less than 10%, The majority goes to Student loans.

    Post # 4
    868 posts
    Busy bee
    • Wedding: September 2011

    @Magdalena:  we spend around 15% of our take home. My husband writes mortgages for Chase for his job, if you want some info from him, PM me and I’ll get you in contact with him. Even if it’s just for basic info/quotes, he’d be happy to help and give some non-biased advice:)

    Post # 5
    1199 posts
    Bumble bee
    • Wedding: November 2011

    I put down 25-50% because I pay 2 mortgages.  I rent my condo out though and my rent covers the mortgage.  I also didn’t account for FH’s salary which goes to pay half of our house mortgage.  So maybe we’re at around 15-20% with his pay added in.

    Post # 6
    9824 posts
    Buzzing Beekeeper

    We rent and pay about 15% of pay on rent.

    Post # 7
    4046 posts
    Honey bee
    • Wedding: November 1999

    please also calculate in the amout of extra stuff you need to buy with a house (lawnmower, snow shovels, paint, furniture, etc) and that your utilities will be higher.

    what made me feel comfortable is that if either Fh or I lost our jobs, we could afford the house on the other’s person salary. plus we had pretty good savings.

    about 25% of your income is a good compromise!

    Post # 8
    10288 posts
    Sugar Beekeeper
    • Wedding: October 2011

    Our rent is currently 25% of our take home but will drop down to below 15% after Darling Husband accepts his new job.

    Post # 9
    1622 posts
    Bumble bee
    • Wedding: September 2011

    We pay 18% towards rent.  We bring home around the same as you, 4K per month and our current rent is about the same as yours too, $725/ month.  We also have similar bills: a $200/month student loan payment, a $100/month credit card payment.  For us, $725/month is a comfortable amount to pay, but our apartment is huge at 1500 sq ft and 3 bedrooms.  We could probably go up to $1000/month, but it would feel really tight for a while.  We would have to do some cutting of expenses.   But I’m sure we would manage and the increase in space is well worth the money.  We went from a $500/month 350 sq ft studio to this apartment and it was amazing!  The space!  The 3 bedrooms!  The full size couches (2 of them!) and a king bed and an office!  Totally worth $200 extra a month.

    Post # 10
    50 posts
    Worker bee
    • Wedding: December 2013

    Hiya, firstly, good on you for really thinking these things through and doing your best to better your lives together 🙂 Also, sorry to hear of your recent miscarriage. Life can be so cruel sometimes.

    Just to help you with your results tho, you might want to add a new category of “I own and have no mortgage” as it might skew the percentage of votes under 10% or less (I voted under the 10% or less, because we own our house with no mortgage).  You might also want to only get people who earn around what you do, to respond. As 10% of one person’s net income is very different from another’s.

    Id also recommend talking to at least two different brokers and your bank, to give you a good idea as well.

    Good luck! And remember to get plenty of house inspections before purchase as well 🙂

    Post # 11
    1614 posts
    Bumble bee
    • Wedding: August 2014

    I voted less then 10%…I was brought up very different then most…After my father got sick with Pancreatic Cancer, my mom closed her salon in New Jersey, and moved everybody down to Florida…she bought a property and built a home, and the house has never had a mortgage, she just paid for it…I was never raised to owe people money, (except now I kinda have to use a credit card to build my credit, and I made some car payments and then just paid the car off)..but my mom had friends who said they didn’t even own their couch…ANYWHO…I guess the point is that I reccomed getting a nice but VERY modest home…We have a 1000-1300 ish Sq foot townhouse because thats all my fiance and I need…we live in a super nice area, and have extra rooms for storage/man room/whatever…We would never throw away money having a house way too big just because we could….don’t max yourself out…you can change anything you want inside your home and make it perfect and make it yours, but you can never pick it up and move it! Also, he pays all the bills/rent/etc, my income is for savings/play money…and its less then 10% of his income too…which is so fortunate! We planned so that we could live comfortably on only one income so that If I didn’t want to work, or his profession took a hit, (he’s a professional poker player–watch for him on ESPN!!!!) We wouldn’t have any financial worries! 

    Post # 12
    14344 posts
    Honey Beekeeper
    • Wedding: June 2011

    I dont think percetage of income is necessarily the best way to look at things.  I suppose its the only way the try to view everyone on the same playing field, but if you look at someone whose take home pay is 4k vs 8k, if they both paid 25% toward housing, one has 3k left over, and the other has 6k… which would go a lot further after housing expenses, assuming everything else does not scale evenly also.  To answer your question though, I pay about 30% of my take home pay to mortgage, include taxes, and its 40%.

    Post # 13
    2142 posts
    Buzzing bee
    • Wedding: August 2010

    Counting what we both take home after taxes etc our mortgage which includes escrow is about 27% of both our paychecks.

    Post # 14
    76 posts
    Worker bee
    • Wedding: October 2011

    Just did the calculations- we spend 36%. But that includes HOA fees, mortgage, insurance and taxes. We aren’t struggling with it whatsoever though so I feel like it’s a good percentage.

    Post # 15
    5296 posts
    Bee Keeper
    • Wedding: January 1993

    before taking out taxes, 401k, healthcare, social security – all that fun stuff 😛 our rent is 12% of our paycheck.


    After though, is 17%. Our apartment was one that I lived in by myself for a while, so I had to be able to afford it on my own. Of my take-home alone, it was 37%. Essentially, we live off of one income so that the other can basically be saved up to get us to a really great down payment a lot faster. So 17% doesn’t sound like much, but since we basically live out of my income, it’s closer to the 37%.


    There are also several online calculators that you can look at that you plug in the numbers and it gives you a conservative and aggressive range of housing prices that you can afford. I’ve used them several times to get an idea and this is probably the best one I’ve seen –


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