(Closed) Rent/mortgage to Income percentage?

posted 7 years ago in Home
  • poll: What is your rent/mortgage to income percentage (monthly)?
    Less than 5% : (5 votes)
    3 %
    6-10% : (5 votes)
    3 %
    11-15% : (18 votes)
    11 %
    16-20% : (38 votes)
    23 %
    21-25% : (28 votes)
    17 %
    26-30% : (31 votes)
    18 %
    31-35% : (17 votes)
    10 %
    36-40% : (5 votes)
    3 %
    41-45% : (4 votes)
    2 %
  • Post # 3
    Member
    3564 posts
    Sugar bee
    • Wedding: August 2010

    Edited: Okay so I changed it to be for our take home pay (not including bonuses). Our rent is about 32% of our take home monthly pay.

    Post # 5
    Member
    238 posts
    Helper bee
    • Wedding: October 2011

    My rent is only 26% of my income. I think this is REALLY low for people my age living here in DC, but I live in the ghetto so that I could afford to put money away, own a decent car, and not have to ask daddy for support the way all my friends do. Now that I’ve done that for a year, my Fiance and I are moving somewhere nicer- but we still got a killer deal on rent and will be paying about the same amount Smile

    Post # 6
    Member
    238 posts
    Helper bee
    • Wedding: October 2011

    By The Way I used after-tax and after-health insurance income for that percentage (aka, my take-home pay). If we’re doing gross income than the percentage would be MUCH lower.

    Post # 7
    Member
    10367 posts
    Sugar Beekeeper
    • Wedding: September 2010

    We pay $1400 a month and that is only 16% of our take-home after-tax/401k/insurance deduction pay. We work really hard to live way below our means so that we can save and travel!

    Post # 8
    Bee
    1048 posts
    Bumble bee
    • Wedding: September 2009 - City Hall

    Our take home pay versus mortgage % is about 12%. Like Crayfish, we live below our means–but for us it’s for paying for grad school and paying off old student loans, and saving for the future.

    Post # 10
    Member
    2091 posts
    Buzzing bee

    I’m unemployed so mine is pretty much 100% but I used FI’s income and he’s paying about 15%.

    Post # 11
    Member
    10367 posts
    Sugar Beekeeper
    • Wedding: September 2010

    @ttn133: Do you think that insurance and tax should be included with the mortgage percentage? I feel like just including a mortgage is really misleading since the other two are huge expenses that are not optional when it comes to owning a house.

    Post # 14
    Member
    13099 posts
    Honey Beekeeper
    • Wedding: July 2010

    Darling Husband and I spend right at about 20% of our take-home pay (after health insurance, taxes, 401K, etc) on our rent.

    Post # 15
    Member
    2548 posts
    Sugar bee
    • Wedding: October 2011

    it’s pretty hard to do on am onthly income, since bonuses are a huge factor in the income. But I suppose since there weren’t any bonuses this year it makes it a bit easier. Our mortgage is about 36% of our income, including property taxes, after taxes, not including bonuses, and not including the wage I currently make, because its very unreliable.

    Post # 16
    Member
    14496 posts
    Honey Beekeeper
    • Wedding: June 2011

    About 29% for mortgage alone… but another 12% goes to taxes.

     

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