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. jimmyfingers

    jimmyfingers Senior member

    Messages:
    354
    Likes Received:
    4
    Joined:
    Nov 17, 2010
    I would try to spend as little on rent as possible if I was actually renting.
    I do not recommend anyone live next to a high rise project building to save money, but their is no reason to rent some luxury condo with awesome view.
     


  2. GreatCornholio

    GreatCornholio Member

    Messages:
    7
    Likes Received:
    0
    Joined:
    Jan 28, 2012
    Currently I do not have to pay rent, but I used to to.
    30% is uncrossable line for me
     


  3. alan

    alan Senior member

    Messages:
    1,613
    Likes Received:
    163
    Joined:
    Nov 1, 2006
    Location:
    Beirut


  4. Lord-Barrington

    Lord-Barrington Senior member

    Messages:
    2,811
    Likes Received:
    98
    Joined:
    Sep 20, 2010
    15%. And I live in the middle of downtown.

    I wouldn't' spend more than 25% of my income on a rental. I just don't see the point and it would start eating into my lifestyle if I still wanted to save at a good rate.
     


  5. Arthur PE

    Arthur PE Senior member

    Messages:
    728
    Likes Received:
    18
    Joined:
    Jan 22, 2012
    Location:
    Earth
    your monthly income (gross) = 100 x monthly mortgage?
    so if you mortgage is say $2000/month, you make $200,000 per month?!
    dang


    mine is infinity...as in 0, my home is paid off...so anything/0 = infinity
     
    Last edited: Feb 4, 2012


  6. sns23

    sns23 Senior member

    Messages:
    460
    Likes Received:
    15
    Joined:
    Jun 28, 2011


  7. EMY

    EMY Senior member

    Messages:
    264
    Likes Received:
    2
    Joined:
    Jan 24, 2010
    ): 133% of my monthly goes to rent.
     


  8. KurtS90

    KurtS90 Senior member

    Messages:
    503
    Likes Received:
    11
    Joined:
    Jan 1, 2012
    Location:
    Clearwater, FL
    I moved back in with my mommy and enjoy free rent, laundry (jk), and fixed foods. Life's good, [​IMG]

    ~Kurt
     


  9. Big Pun

    Big Pun Senior member

    Messages:
    6,001
    Likes Received:
    634
    Joined:
    Aug 13, 2008
    Location:
    امریکا


  10. otc

    otc Senior member

    Messages:
    14,990
    Likes Received:
    4,589
    Joined:
    Aug 15, 2008
    I'm down to 14% from when I first posted in this thread...rent went up but so did income.

    I'm seriously considering moving though and I can't imagine finding a place that fits my requirements for less than 50% more than I pay now (and I half expect my current landlord to either not renew my lease or give me some insane rent increase).

    Our annual reviews are coming up soon though...so maybe I'll find myself in a position where 50% more than I pay now is still only 15% of my income :)
     


  11. Meis

    Meis Senior member

    Messages:
    2,865
    Likes Received:
    699
    Joined:
    Aug 14, 2008
    Location:
    Chicago
    

    When giving the percentage of income people should also say where they live so there's some context.

    Also, I'm sure someone's asked this already, but where are you people living that are only spending 15% or less on rent. I mean, assuming someone makes about 4k a month, after taxes that's 3100. 15% of that is 465- that's insanely cheap rent if you're living in a major city. To get that low in my city you'd have to be sharing a 2-3+ bedroom apartment in a medium price or cheaper neighborhood.


    Mine's tough to figure out as my income varies from project to project, but at average pay rate and assuming steady work my rent (not including utilities) is roughly 25% of after tax income. (Chicago)
     
    Last edited: Feb 5, 2012


  12. rollafan

    rollafan Senior member

    Messages:
    110
    Likes Received:
    1
    Joined:
    Nov 30, 2011
    Location:
    SFO/DEN
    I live in two different cities. In one city, my rent is $900/mo. In other city, my rent is $2000/mo.

    My work pays for my rent.
     


  13. otc

    otc Senior member

    Messages:
    14,990
    Likes Received:
    4,589
    Joined:
    Aug 15, 2008
    

    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.
     


  14. js4design

    js4design Senior member

    Messages:
    1,968
    Likes Received:
    828
    Joined:
    Dec 8, 2008
    Location:
    Tidewater, VA
    8.5% of gross with utilities included (split with GF). Got a run down unit in a downtown area above a business, convinced the rental company to cover cost of materials if I did labor on upgrades ( repaint, fix wood trim, clean wood floors, etc) and we now have a place that would easily rent for twice what we pay and it only took one long weekend of work :D
     
    Last edited: Feb 6, 2012


  15. Trompe le Monde

    Trompe le Monde Senior member

    Messages:
    2,004
    Likes Received:
    205
    Joined:
    Oct 30, 2009
    

    thats not how math works
     


Share This Page

Styleforum is proudly sponsored by