• Date Started: Jan 11, 2009
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How much of your income should go towards housing???

5 Responses to “How much of your income should go towards housing???”

1. KikiKayB Says:
   June 3rd, 2009 at 07:46 am
   I have heard that it shouldn't be more then 25%. I would say you are around 32 or 33 %. Not bad...but if you can reduce it without lowering your houseing quality much..go for it! Taking into account security deposits etc.

2. monkeymama Says:
   June 3rd, 2009 at 09:32 am
   As little as possible.

3. Ima saver Says:
   June 3rd, 2009 at 11:42 am
   I think you are paying too much!!

4. monkeymama Says:
   June 3rd, 2009 at 01:39 pm
   To clarify, when I was in college my rent was as low as it possibly could be and it was 50% of income. (Some 0% years with house sitting and such).
   
   So it depends on the area really. In college I didn't sweat it as I Was focusing all my energy on a higher income, eventualy. (My problem was more low income than high rents, since I did do well keeping my rents low in a pricey area).
   
   That being said, if there are cheaper rent options for you, I would certainly take them.

5. whitestripe Says:
   June 3rd, 2009 at 10:28 pm
   it is normal to expect to pay up to and over 33% here for renting - that is what the real estates calculate it on as well.
   i think our minimum mortgage payment is around that amount, but we are trying to pay much more, our goal is 40-45%.

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