Dismiss Notice

STYLE. COMMUNITY. GREAT CLOTHING.

Bored of counting likes on social networks? At Styleforum, you’ll find rousing discussions that go beyond strings of emojis.

Click Here to join Styleforum's thousands of style enthusiasts today!

What percentage of your monthly income goes to rent?

Discussion in 'Fine Living, Home, Design & Auto' started by GreenFrog, Jul 4, 2011.

  1. Mr Herbert

    Mr Herbert Senior member

    Messages:
    1,692
    Likes Received:
    10
    Joined:
    Oct 29, 2009


  2. FunLovinStyle

    FunLovinStyle Senior member

    Messages:
    360
    Likes Received:
    110
    Joined:
    Jan 1, 2011
    Location:
    Connecticut


  3. Joffrey

    Joffrey Senior member

    Messages:
    11,481
    Likes Received:
    606
    Joined:
    Jun 18, 2006
    Location:
    Pennsylvania Ave/Connecticut Ave


  4. patrickBOOTH

    patrickBOOTH Senior member Dubiously Honored

    Messages:
    33,504
    Likes Received:
    8,866
    Joined:
    Oct 16, 2006
    Location:
    New York City
    Most landlords won't even rent you something unless your gross salary is equal to 40 times the monthly rent payment. I have no idea how some people get around this.
     


  5. imageWIS

    imageWIS Senior member

    Messages:
    20,008
    Likes Received:
    97
    Joined:
    Apr 19, 2004
    Location:
    New York City / Buenos Aires
    Most landlords won't even rent you something unless your gross salary is equal to 40 times the monthly rent payment. I have no idea how some people get around this.

    You can negotiate by paying 2 months ahead of time to assuage their 'fears'.
     


  6. xchen

    xchen Senior member

    Messages:
    3,750
    Likes Received:
    8
    Joined:
    Jul 26, 2007
    Most landlords won't even rent you something unless your gross salary is equal to 40 times the monthly rent payment. I have no idea how some people get around this.

    Factor in how badly they want to get it rented too. I think a lot of landlords might let it slide a bit if a place has been empty for a significant amount of time.
     


  7. DerekS

    DerekS Guyliner

    Messages:
    8,593
    Likes Received:
    4,794
    Joined:
    Sep 17, 2010
    Location:
    Nashville
    i didnt know until I just calculated it.....12%. pretty shocking.
     


  8. BrianVarick

    BrianVarick Senior member

    Messages:
    1,759
    Likes Received:
    20
    Joined:
    Jan 7, 2007
    Location:
    Cincinnati, OH
    Right at around 10%, and that is for both my wife and I who are 22.
     


  9. Piobaire

    Piobaire Not left of center?

    Messages:
    50,648
    Likes Received:
    13,792
    Joined:
    Dec 5, 2006
    Location:
    In My Douchemobile
    In general, my advice is to keep your fixed payments as low as possible, really in no matter what stage of life you are in. The higher your debt, lower your income, and lower your available emergency funds, the lower % your total fixed payments should be.

    I learned this lesson the hard way.
     


  10. in stitches

    in stitches Kung Joo Moderator

    Messages:
    69,067
    Likes Received:
    31,233
    Joined:
    Oct 10, 2010
    Location:
    Colorado Rocky Mountains
    about 33% of net.

    i have heard this figure from many people in the past
     


  11. Joffrey

    Joffrey Senior member

    Messages:
    11,481
    Likes Received:
    606
    Joined:
    Jun 18, 2006
    Location:
    Pennsylvania Ave/Connecticut Ave
    Most landlords won't even rent you something unless your gross salary is equal to 40 times the monthly rent payment. I have no idea how some people get around this.

    My gross annual salary is well above 40 times the monthly rent payment (what they ask for in rental applications). Totally different story when considering percentage of net monthly income going to paying rent (what the OP is asking).
     


  12. DerekS

    DerekS Guyliner

    Messages:
    8,593
    Likes Received:
    4,794
    Joined:
    Sep 17, 2010
    Location:
    Nashville
    i have heard this figure from many people in the past

    that percentage is closer to what my booze budget was. [​IMG]
     


  13. Brian SD

    Brian SD Moderator

    Messages:
    9,760
    Likes Received:
    122
    Joined:
    Feb 5, 2004
    Location:
    Tokyo
    About 20% for me. But I'm talking about my salary after taxes. Are we all?
     


  14. kruze

    kruze Senior member

    Messages:
    266
    Likes Received:
    0
    Joined:
    Oct 26, 2008
    Location:
    SoCal


  15. impolyt_one

    impolyt_one Senior member

    Messages:
    14,457
    Likes Received:
    4,790
    Joined:
    Sep 6, 2006
    Location:
    The Temple of Jawnz
    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.
     


Share This Page

Styleforum is proudly sponsored by