or Connect
Styleforum › Forums › Culture › Fine Living, Home, Design & Auto › What percentage of your monthly income goes to rent?
New Posts  All Forums:Forum Nav:

What percentage of your monthly income goes to rent? - Page 3

post #31 of 138
The best thing you can do in your early-mid 20s is to minimize living expenses so you can free up money for experiences (travel, classes, hobbies - stuff you don't have as much time for during the family building/mid-career phase of life) and early forays into investing (maxing that 401k and Roth).

Part of the fun of youth (maybe this is hindsight) IS the studio apartment in the weird building, the second hand furniture and so on - your friends (and girls) your age don't care when they come over, because they live that way to. It's being young.

A small place also has the added benefit of reducing temptation to buy tons of *stuff* - lack of storage keeps you frugal

My first place out of grad school in the early 90s (I won't count the single basement room I rented in a house when I was in grad school) was a $300/month studio in an old highrise in then-sketchy midtown Atlanta (for those in the know, the infamous Howell House on 3rd and Peachtree) on a salary of $60,000, so I was spending 6% of my gross income (I guess 10% of net?) I also drove a paid-for Mazda 626, so I had no car payment. A good way to start!

In my view, there's simply zero reason to have luxurious accommodations as a young man; that can come later in the form of a house.
post #32 of 138
17% of gross, 23% of take home for me.
post #33 of 138
Quote:
Originally Posted by impolyt_one View Post
10% or less. Moving to Tokyo in less than a couple months and it might move up to 10% even or so, but it will depend on the place we decide on. I hope it doesn't get too high, otherwise it will be hard to save. Parking spots are $700 a month.
this thread makes me realise how expensive london is compared with much of the rest of the world. admittedly im older than the age bracket specified,but a nice (not amazing) 2 bedroom apt in a trendy area costs me £2000 per month. so i'd have to be making £20k a month after tax (at 50%) to say this...which i'm not...
post #34 of 138
Ha, same here given I'm in DC and actually have a great deal for a 1bedroom and sworn off the roommate thing after my last nightmare.
post #35 of 138
16% of net.
post #36 of 138
~20% of net
post #37 of 138
personal residence/s rent/mortgage: 0% (one advantage to being older)
but there are property taxes.
post #38 of 138
how unamerican of you seems that a third is about average for a majority (not necessarily ςφ)
post #39 of 138
Quote:
Originally Posted by shahanshah View Post
how unamerican of you

seems that a third is about average for a majority (not necessarily ςφ)

Now it probably is, it used to be probably 120%
post #40 of 138
Quote:
Originally Posted by shahanshah View Post
how unamerican of you
Who said I was American?
post #41 of 138
haha that's terrible but probably true for a great many

Quote:
Originally Posted by RSS View Post
Who said I was American?

nobody, but you've just furthered yourself from ever becoming one in the future
anyway i knew you weren't given the attire you used to wear to supper every evening !
post #42 of 138
I pay 4.8% of gross about 7.4% of net. I agree with everyone about minimizing expenses like rent when you're my age - that said I have the luxury of splitting a 1bd with my fiance.
post #43 of 138
Quote:
Originally Posted by dhc905 View Post
I pay 4.8% of gross about 7.4% of net. I agree with everyone about minimizing expenses like rent when you're my age - that said I have the luxury of splitting a 1bd with my fiance.

Yes but getting married negates any $ you save in rent
post #44 of 138
18% gross, 26% net

(i rent a one bedroom condo downtown in toronto)
post #45 of 138
I had a significant jump in income and my mortgage is only 1% of my gross income. It's actually something of a disaster financially as I have an issue looking at the excess money as investible and instead spend it on clothes. Not that I'm complaining that much. To put things in perspective though, I don't live in a mansion so in SF terms I'm poor.
New Posts  All Forums:Forum Nav:
  Return Home
Styleforum › Forums › Culture › Fine Living, Home, Design & Auto › What percentage of your monthly income goes to rent?