I spend 15% of my monthly pay on our rent. At one point in time, I was spending 25% of my pay on our rent!
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20% on our mortgage!
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We spend about 20% on our mortgage too.
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About 25% on our mortgage
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It was about 15% when I was working, but now that I'm a sahm, it's def higher.
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About 15% of take home pay. When I was just starting off that number was closer to 45%. So glad I earn more now!
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I'm assuming pre-tax? about 16% on rent.
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I spend 26% of my net pay on our mortage.
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Ours varies a little because both my husband and I are salaried + commission. But most months it works out to our mortgage/taxes/insurance being about 15% of our take home pay.
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17% on mortgage.
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13% of take home pay
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17% of our net pay.
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About 25% of net on mortgage (that includes taxes and homeowner's insurance)
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13% of take-home pay on mortgage.
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Holy cow, ours is way higher! Ours is about 30% of our netpay (after taxes, retirement, health insurance, etc). Our mortgage payment includes home insurance/property tax.
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Although our mortgage is 18%, we actually end up paying 27% because we are trying to pay off our PMI as quickly as possible.
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We are right about 20-25% after taxes. Our mortgage also includes home owners insurance and property taxes
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16% (had to do some math calculations)!
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@Mrsdaredevil: haha ours too! You aren't alone!
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@highwire: haha I totally whipped out my calculator!
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our mortgage is about 14% based on our after tax income.
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about 20% of our after-tax income, but we up the payment a bit in hopes of getting rid of PMI sooner.
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Ours is ~19% of our after tax income. But our pay is a little weird because we get quarterly bonuses on top of our regular salary. Before taxes it's ~12%.
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Yikes, ours is 34% (of our take-home pay).
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16% of our take home pay
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16% of net pay but if we add our condo's common charges it is about 20%.
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Mine is quite a bit, about 35% of our net income, after taxes, health insurance, and savings contributions. My payment includes taxes, PMI, and home insurance.
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Rent is about 25% of take-home pay (income after taxes, insurance premiums, 401K contributions...).
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Yikes, just calculated this...now that I'm no longer working, rent is about 47% of DH's base salary. However, bonuses are a huge part of his compensation--otherwise we'd be in trouble!
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About 17% of my husband's take home pay. We don't include my pay in our budget or it would be less.
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Ugh, this is depressing. Our mortgage (including PMI, insurance, tax) used to be 35% of our take-home pay. We just refinanced though, so now it's 28%.
When we bought our house 5 years ago we were making about 30% less than we are now though, so that was a huge % for our mortgage!
Before taxes/401k/health insurance it's only 18.5%
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so interesting!
dh and i both do "okay" not wealthy, but not paycheck to paycheck. we're definitely still adjusting expenses to having a baby. we want to get our own place by the time LO is one, and even with a healthy nest egg (at least WAY more than our friends), home ownership seems so far out of reach! with pmi, taxes, insurance, etc it's going to be more like 30% of my after tax income.
i've read before you should never spend more than 28% of your after tax income on rent/mortgage...
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About 10%.
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somewhere between 20-30% . thats what happens when you live in the bay area. le sigh
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12% on mortgage! Actually about 6%, but we upped the fixed payment to (try to) get it gone more quickly!
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Oh my gosh!!! yours is all so low!! jealous...
Ours is 28% of our adjusted gross income goes to rent. It's a lot. But there is nothing cheaper in this area.
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@hilsy85: oh wow!! We definitely don't make enough to pay nearly 50% of income to rent!
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This is interesting to read; we just met with our mortgage guy yesterday to get pre-approved!
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@Coco Bee: well, like I said, we'd be in major trouble if we just went off DH's base...however, he gets a yearly bonus as well that is usually way over his base salary. So from last year's total income, rent was actually only like 11% of our total income. The bonus is obviously pretty important to us, lol.
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Right after graduating college, with a crappy low paying job and living in NYC, I was paying pretty much half my take home pay in rent. It sucked, a lot. Now it's WAY lower for a lot of reasons. We could afford to pay more in rent, but we have a nice apartment in a great neighborhood, so we have no plans to move and just save for a house when we are ready for the suburbs.
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55 comments