What % of your income do you spend on rent?

PoppaBK

Member
Oct 27, 2017
1,293
Pretty soon I will be paying approx. 35% of my net pay on an apartment (plus utilities) I will live in only 5 days a week. I will also be paying half the utilities on the house the rest of my family will be living in.
 

skeezx

Member
Oct 27, 2017
5,461
starting out your rent/living will be at least 1/3rd of your income (living in the bay area adds another layer to that). no big deal

goal is to drive that percentage down some 10-15 years from now but YMMV based on situation/living preferences. i was cool with living in crappy studio apartments til my mid 30s and then bought a home, but very few people could've suffered through that
 

stupei

Member
Oct 26, 2017
1,683
Close to moving to a new place that's about 14% of my gross income. Try to keep it low because I freelance and there are dry spells where savings are really important.
 

Darren Lamb

Member
Dec 1, 2017
178
Gross: 15%
Net: 22%ish

These include utilities; I share a 2.5 bedroom place with my GF that we split 50/50. I never want to move, it's an older house but we have in-unit washer/dryer, a driveway with a garage, two decks, appliances in decent shape, and we live on a bike-path that leads to the subway in about a 15 minute walk/5 minute bike ride. For $2100/month in the Boston area it's a steal
 

peteykirch

Member
Oct 25, 2017
1,432
Way too much.

The goal is to move from NJ to NC and be able to buy a house for about 700 bucks less a month than we spend to rent a 1BR apartment in Central NJ.
 

take_marsh

Member
Oct 27, 2017
1,959
About 20%. I have two roommmates in an apartment and I live in a pretty small city. Only make ~$30k a year before taxes.
 

TaterTots

Member
Oct 27, 2017
5,093
If I was to pay for this apartment by myself it would be about 32% of my check each month. Fortunately, I have a gf and we live together. With our income combined it's about 13% per month. Cost of living here isn't bad at all, but I don't make much hourly and my gf is a school teacher, so we don't rake in the big bucks. However, we live in a good part of town. I'm sure we could find something cheaper.
 

mhayes86

Member
Oct 27, 2017
1,008
Virginia
When I first moved out, rent was 24% of my gross salary. My current mortgage is only 17%. Against net salary, my mortgage is about 26%.

I need to go through and re-budget to see what it all is with utilities, gas, and groceries included, but some really rough estimates seem to bump it all up to about 45% of my net salary.

Edit: Christ. I completely forgot about a car payment and student loans. Bump that up closer to 50%, I guess. I really should re-do my budget.
 

Cascadero

Member
Nov 8, 2017
561
27 % of gross income. Living in Singapore though so rent is the main expenditure (no car and daily food is not so expensive). The idea of buying here is really off-putting when you see the sales prices for similar apartments. Even if I know I'm essentially flushing down my money.
 

wisdom0wl

Avenger
Oct 26, 2017
3,610
When I was renting a 1 bed in Santa Monica for 3 years, less than 2% tbh

But I'm out in NJ and it's probably lower than that now.
 

Rory

Member
Oct 25, 2017
1,529
1/3 and that’s a pretty neat deal here. 10% is a joke especially for cities like SF. Oo
 

Bigwombat

Member
Nov 30, 2018
466
30% is say. More when I factor in home improvement loan for upgrades at the house. Luckily no car or student debt. For the moment
 

MaxDOL

Member
Oct 31, 2017
57
0% Living with my parents.
The perk of being Asian.
Make it possible for me to invest 80% of my income.
 

FaceHugger

Member
Oct 27, 2017
6,923
All of my bills, including little things like Netflix, car & insurance, is 31.5% of my net.

It's not expensive to live in my city, I just sock away 11.5% of my check pre-tax into retirement now.
 

Gypsie

Member
Oct 29, 2017
590
Out of interest why would you ever care what the figure is gross of tax?! Seems like a pointless calculation to me.

When I lived in London a couple of years ago it was about 3rd. Since moving to another city it's 9% apparently and I earn way less.
 

pagrab

Member
Oct 27, 2017
377
I live in Copenhagen and I pay 58% of my income. The prices here are insane, especially if you have a dog. If I did not have a dog, I would get a similar apartment for around 44% of my income.