nsfx

Including tax, maintenance, utilities, what percentage of your monthly net (after taxes) income do you spend on rent / mortgage?

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Cynthetiq

1.5 weeks salary has always been my rule of thumb.

I have never lived higher than that.

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noodle

40%. rent, electric, and gas.

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nsfx

Dang. I waited longer than 5min and now I can't make a poll!

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snowy

About 57% of my income right now goes to my rent, but that includes all of my utilities.

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PonyPotato

0% of what I actually get paid

I work off my rent and utilities. However, if you looked at the equivalent value and what I would be paid for doing the work (just to pay it back, of course) it would be about 25% of my after-tax income for the month.

That does not include board for my horses.

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Xerxys

Wow! On a really bad week, 42%.

roachboy

of my gross? about 20%.

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Rekna

I'm about 40%

ColonelSpecial

Right now my husband and I are on his salary alone. For now it is about 40% of his income. When it is both of our incomes it is way down, closer to 15-20%. This includes all of our utilities. We rent so we don't have taxes/maintenance.

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dlish

my company pays for my rent and utilities, so for me its 0%

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NoSoup

About 19% Gross Income

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About 30%. Single income atm and that includes paying more into my mortgage than I need to.

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Vigilante

About 20% of our income goes to mortgage. That does not include utils etc.

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Ratman

All of Japan is not as expensive as Tokyo. In Kyushu I pay about 15%. That goes up a bit in the summer due to the absolute MUST of air conditining.

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ShaniFaye

last time I checked, Gross was before taxes, net is after taxes

so my percentage of my net pay is 33% that goes for rent and utilities

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genuinegirly

20%
We would like it to be a smaller percentage, but we're going to school.

Why are you interested in this information?

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Lasereth

The OP needs to be more clear. Gross is before taxes, not after, so half this thread is reporting gross salary and half is reporting net which fucks the whole question up.

If we're really going by gross, it takes approximately 25% of my income to pay the mortgage and utilities. That's not counting my wife's income though so it's much lesser than that counting hers if we're going by gross.

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BigBen

You are right, gross is before tax. I have to reply to Shani because she is right in the zone;

Financial planners use the rule of 1/3 to gauge your credit worthiness. If you are anywhere past 33% of GROSS income on rent (and required costs including property tax, insurance) then you are in a dangerous place - credit score speaking.

Now here is the funny part: They give the same 1/3 rule for debt-load management; So, technically speaking, your lending threshold is 1/3 NET income minimum payment. Kinda weird, but that's what I heard.

That said, I'm about 25%. I don't dig on fancy accommodations.

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vanblah

30% of my net income goes to the mortgage ... but that's before we collect rent from our tenant (we own a duplex). After we collect rent it's about 20%.

Gross income it's more like 21% before rent collection and 12% after.

snowy

I'm a student, and I'm only counting my very meager income, which is not the whole picture, as my SO makes a lot more money than I do and does a great job of supporting me elsewhere. If you count our incomes together, what we pay in rent is 33% of what our household earns in a month, so we're where we should be. And for what we pay, we get a sweet 3 bedroom house all to ourselves, utilities included, so I really can't complain.

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telekinetic

21% of my gross income goes to the mortgage. I don't have a convenient way to see my net income isolated from my 401K/van pool/insurance deductions and don't have a pay stub in front of me, nor do I have my utilities itemized, but I know they average about another 2-4%, varying wildly based on time of year (it's effin hot here and nice in the winter).

Also, this is all without my wife working. Which she does occasionally.

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milkmilk

..

clavus

Anywhere from 10% to 60%. Income is not steady around here.

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supersix2

I'm around ~28% depending upon what my electric bill is. That includes internet and DirectTV

freeload

Until last month we paid 48% of my net salary on the mortage. Then add utility bills on top of this. We had a real estate agent give us a new estimated value on the house, and the bank could suddenly move us to a lower security mortage. Now we're down to 30% of my net salary.
Feels good

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Bear Cub

Gross is around 10% just off of base pay, without any OT factored in.

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little_tippler

wow, either you guys live very sparsely or salaries in the US are pretty awesome. Over here, the average is usually 40-60%. Now I'm depressed.

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Charlatan

We are around 16-17% of our gross income. This just went down from 23% when we moved to a place with cheaper rent.

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supersix2

Gah I forgot about property tax and association fees, so I'm closer to 35% with all that. However, I did not take into account that I have 2 people renting my extra rooms form me so with that factored in I'm actually around 17%.

Bear Cub

For me, it used to be in the 3x% range, but now my pay is pretty awesome. Way more than an asshole like me in my 20's should be hauling in.

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thingstodo

Principle, interest - 5.3% morgage rate - and escrow (insurance & property tax) runs me 16.6% of gross. If I add in utilities, cable, phone and HOA I'm at 20%.

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Redjake

thread is skewed because of gross vs. net. there can be a huge difference depending on yourtax bracket. it's 15% if you go by my wife and I's gross. 23% if you go by our net.

cadre

Wow. Now I feel even worse about my life. On a good month, rent is about 90% of my income post taxes. This is an improvement considering I used to have zero income. Great time to get out of college.

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Corneo

50% right now but it will become 30% soon. Woot for saving money.

forseti-6

Almost 100% of my net goes towards rent and food. I don't make enough money to eat out all the time, yet my dumbass still does. Go figure. That coupled with the stupid high Manhattan rents, I have no savings.

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skada

0% on rent ..
inheritance has its own advantages ..
~15% on utilities + stuff

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Leto

No mortgage anymore, but a hefty renovation loan can be counted eh? So approx 15% of my gross monthly income goes towards the loan repayment. Does not include utilities.

Food shopping is the second highest cost component. Roughly $230/week ($900/month) not counting dinners out and fast foods. So, that is getting up to almost equal to the utilities cost.

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Halx

When you count rent and utilities, 30%. This is before taxes.

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Cimarron29414

Actually, it's because we have less taxes.

~21%

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