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# What percentage of your monthly income goes to rent? - Page 6

sure it is

if his is ~ income/rent % ~ 100/1 so he makes 100 x rent

mine is income/rent % ~ income/0 ~ therefore income to rent ratio approaches infinity

$\lim\limits_{x \to 0} {\frac{1}{x} =\frac{\lim\limits_{x \to 0} {1}}{\lim\limits_{x \to 0} {x}}} = \frac{1}{0} = \infty.$

Quote:
Originally Posted by Trompe le Monde

thats not how math works

Tokyo rent =(
16%.
49%
Roughly 30%. Australia's housing market is overpriced beyond belief. I could find something cheaper but that would mean having to buy a car/insurance/registration/petrol/servicing/parking so it works out as I only have to walk to work, not drive.
About 50%... but that includes mortgage (15-year loan) and assessments. Living in downtown Chicago.
Quote:
Originally Posted by otc

Mine's at about 15% of gross in Chicago...would easily be lower if I had a roommate since splitting a 2BR is so much cheaper than a 1BR around here.
I don't live in a very nice unit but I am in an area where I think the rents are overpriced (so many run down buildings in lakeview have rents that are hundreds more than mine for small units with poor layouts and no dishwashers)...so the $885 I pay is about as good as it gets. Unfortunately when I move, I will have to pay a ton more than that. Lakeview is overpriced (and overrated). There's plenty of good (and cheaper) neighborhoods north and west, I pay about$100 less than that for my decent 1bd and while I wouldn't call it overpriced, its not that much of a deal for my neighborhood.
i've heard financial advisors toss around 33% of pre-tax income as the most a typical individual should spend a month on rent/utilities
Quote:
Originally Posted by FidelCashflow

i've heard financial advisors toss around 33% of pre-tax income as the most a typical individual should spend a month on rent/utilities

33% of my pre-tax income equates to 50% of my take home pay.

I would never, ever live in a place that cost me an entire paycheck.

Quote:
Originally Posted by Meis

Lakeview is overpriced (and overrated). There's plenty of good (and cheaper) neighborhoods north and west, I pay about \$100 less than that for my decent 1bd and while I wouldn't call it overpriced, its not that much of a deal for my neighborhood.

I agree with you for the most part...and I'm open to suggestions if you know any good places opening up.

I think its overpriced and I actually don't like a lot of things about the neighborhood (e.g. I never go out at night anywhere near my place) but the location of my place is great. I'm walking distance from my friends (one of whom lives in lakeview because their commute switches between downtown and evanston and the last purple line stop is at belmont). I bike a ton and it pays to be a block off of the lake and at a distance that makes it a perfect commute downtown (any further would start to take longer than I like and any closer I would no longer feel like I get any exercise from it)...and I've got a grocery store right between me and the red line so I stop on the way home from work and never have to make dedicated shopping trips.

While I think it is overpriced (and any other place in lakeview near me costs *more*), I have looked around and found that it is hard to get a better deal in other neighborhoods. A lot of places to the southwest of me like bucktown/noble square/etc have great prices but I have trouble finding decent 1BRs...everything is 2BR+ with the occasional studio thrown in. North or Northwest is starting to feel to far or inconvenient to me (despite areas like Lincoln Square being pretty sweet).

My lease is up in september and I am considering bailing to a new neighborhood...but unless my landlord raises rent by a ton or I find a good place at a good price, I will probably end up staying
11%
0%, when i move out it will probably be about 50% of mthly income after tax unless i live with the gf, in which case it'd be 25%.
Quote:
Originally Posted by otc

I agree with you for the most part...and I'm open to suggestions if you know any good places opening up.
I think its overpriced and I actually don't like a lot of things about the neighborhood (e.g. I never go out at night anywhere near my place) but the location of my place is great. I'm walking distance from my friends (one of whom lives in lakeview because their commute switches between downtown and evanston and the last purple line stop is at belmont). I bike a ton and it pays to be a block off of the lake and at a distance that makes it a perfect commute downtown (any further would start to take longer than I like and any closer I would no longer feel like I get any exercise from it)...and I've got a grocery store right between me and the red line so I stop on the way home from work and never have to make dedicated shopping trips.
While I think it is overpriced (and any other place in lakeview near me costs *more*), I have looked around and found that it is hard to get a better deal in other neighborhoods. A lot of places to the southwest of me like bucktown/noble square/etc have great prices but I have trouble finding decent 1BRs...everything is 2BR+ with the occasional studio thrown in. North or Northwest is starting to feel to far or inconvenient to me (despite areas like Lincoln Square being pretty sweet).
My lease is up in september and I am considering bailing to a new neighborhood...but unless my landlord raises rent by a ton or I find a good place at a good price, I will probably end up staying

Yeah, finding good 1br's is the difficult part. Edgewater/Andersonville is cheap and has plenty of 1br's but a lot of people don't like being that far north. Logan Square (where I live) is pretty reasonable, much cheaper than wicker park- but you have to look quite a bit to find the good 1 BRs. The issue I always find is that there's plenty of places that are really cheap (but in horrible shape) or nice but expensive, and never very much in-between (decent shape and reasonablely priced).
Quote:
Originally Posted by Meis

Yeah, finding good 1br's is the difficult part. Edgewater/Andersonville is cheap and has plenty of 1br's but a lot of people don't like being that far north. Logan Square (where I live) is pretty reasonable, much cheaper than wicker park- but you have to look quite a bit to find the good 1 BRs. The issue I always find is that there's plenty of places that are really cheap (but in horrible shape) or nice but expensive, and never very much in-between (decent shape and reasonablely priced).

Pretty much my exact problem.

I'm willing to put some effort into a place (its amazing what a tiny bit of drywall work and a good paint job with nice paints can do) but there's not much you can do without a very lenient landlord if you've got nasty kitchen cabinetry/counters and junky appliances. I really don't want a place without a dishwasher and that's pretty hard to pull off if the unit doesn't come with it.

I think I've done pretty well in my current unit with a little drywall patching, some paint (mostly just better whites to cover up the horrible renter's beige), and replacing the kitchen and bath hardware....but finding something in some of those blue-line corridor neighborhoods that has that kind of potential without a gut-rehab is very tough.
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