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Old 08-03-2009, 06:06 PM   #1 (permalink)
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Location: NJ
What % of your monthly gross income do you spend on rent / mortgage?

Including tax, maintenance, utilities, what percentage of your monthly net (after taxes) income do you spend on rent / mortgage?
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Last edited by nsfx; 08-15-2009 at 11:51 PM..
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Old 08-03-2009, 06:12 PM   #2 (permalink)
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1.5 weeks salary has always been my rule of thumb.

I have never lived higher than that.
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Old 08-03-2009, 06:12 PM   #3 (permalink)
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40%. rent, electric, and gas.
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Old 08-03-2009, 06:14 PM   #4 (permalink)
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Dang. I waited longer than 5min and now I can't make a poll!
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Old 08-03-2009, 06:14 PM   #5 (permalink)
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Location: Oregon
About 57% of my income right now goes to my rent, but that includes all of my utilities.
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Old 08-03-2009, 06:23 PM   #6 (permalink)
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Location: Ohio!
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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Old 08-03-2009, 06:25 PM   #7 (permalink)
Location: My head.
Wow! On a really bad week, 42%.
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Old 08-03-2009, 06:27 PM   #8 (permalink)
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of my gross? about 20%.
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Old 08-03-2009, 06:41 PM   #9 (permalink)
I'm about 40%
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Old 08-03-2009, 06:48 PM   #10 (permalink)
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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Old 08-03-2009, 07:32 PM   #11 (permalink)
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my company pays for my rent and utilities, so for me its 0%
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Old 08-03-2009, 07:53 PM   #12 (permalink)
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Location: Green Bay, WI
About 19% Gross Income
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Old 08-03-2009, 08:33 PM   #13 (permalink)
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Location: Sydney, Australia
About 30%. Single income atm and that includes paying more into my mortgage than I need to.
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Old 08-03-2009, 08:39 PM   #14 (permalink)
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Location: US
About 20% of our income goes to mortgage. That does not include utils etc.
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
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Old 08-03-2009, 10:03 PM   #15 (permalink)
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Location: Somewhere... Across the sea...
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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Old 08-04-2009, 02:41 AM   #16 (permalink)
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Location: Lilburn, Ga
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
I want the diabetic plan that comes with rollover carbs. I dont like the unused one expiring at midnite!!
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Old 08-04-2009, 04:45 AM   #17 (permalink)
Eat your vegetables
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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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Old 08-04-2009, 05:08 AM   #18 (permalink)
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Location: Winston-Salem, NC
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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Last edited by Lasereth; 08-04-2009 at 05:11 AM..
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Old 08-04-2009, 05:24 AM   #19 (permalink)
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Originally Posted by ShaniFaye View Post
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
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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Old 08-04-2009, 06:19 AM   #20 (permalink)
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.
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Old 08-04-2009, 06:25 AM   #21 (permalink)
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Location: Oregon
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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Old 08-04-2009, 06:33 AM   #22 (permalink)
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Location: Fauxenix, Azerona
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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Old 08-04-2009, 09:22 AM   #23 (permalink)
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Old 08-04-2009, 09:35 AM   #24 (permalink)
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Location: NorCal
Anywhere from 10% to 60%. Income is not steady around here.
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Old 08-04-2009, 01:36 PM   #25 (permalink)
Location: Houston
I'm around ~28% depending upon what my electric bill is. That includes internet and DirectTV
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Old 08-04-2009, 01:48 PM   #26 (permalink)
Done freeloading here
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Location: on my ass :) - Norway
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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Old 08-04-2009, 02:07 PM   #27 (permalink)
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Location: Nofe Curolina
Gross is around 10% just off of base pay, without any OT factored in.
Living in the United Socialist States of America.
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Old 08-04-2009, 02:58 PM   #28 (permalink)
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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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However much we give our thoughts the will
To be our soul and gesture it abroad,
Our hearts are incommunicable still.
In what we show ourselves we are ignored.
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Old 08-04-2009, 04:07 PM   #29 (permalink)
Getting it.
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Location: Lion City
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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Old 08-04-2009, 04:45 PM   #30 (permalink)
Location: Houston
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%.
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Old 08-04-2009, 04:46 PM   #31 (permalink)
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Originally Posted by little_tippler View Post
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.
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.
Living in the United Socialist States of America.
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Old 08-05-2009, 02:27 AM   #32 (permalink)
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Location: The Great White North
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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Old 08-05-2009, 03:02 PM   #33 (permalink)
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Location: Wilson, NC
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.
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Old 08-05-2009, 07:43 PM   #34 (permalink)
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Location: Arizona
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.
My life is one of those 'you had to be there' jokes.
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Old 08-05-2009, 09:19 PM   #35 (permalink)
50% right now but it will become 30% soon. Woot for saving money.
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Old 08-07-2009, 09:17 PM   #36 (permalink)
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Location: New York City
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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Old 08-10-2009, 09:09 AM   #37 (permalink)
0% on rent ..
inheritance has its own advantages ..
~15% on utilities + stuff
No Signature
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Old 08-10-2009, 09:27 AM   #38 (permalink)
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Location: The Danforth
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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Old 08-10-2009, 10:31 AM   #39 (permalink)
Please touch this.
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When you count rent and utilities, 30%. This is before taxes.
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Old 08-10-2009, 10:45 AM   #40 (permalink)
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Originally Posted by little_tippler View Post
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.
Actually, it's because we have less taxes.

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gross, income, monthly, mortgage, rent, spend

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