What % of your take home pay do you spend on housing?

[fused]

For us, 36% of take home pay (net). Property prices and rentals in Hawaii are near the nation's highest.

[WhirledPeasPlease]

---

atlastontheroad wrote:

Next September, it gets easier (big-ish pay increase).  The following September it does the same. 

I'm right there with you!    This is one reason I look forward to going back to school in the fall!

4 months ago the mtg alone was 23%, after ARM adj it's at 29% --

realistically w/ a 6% rate it would be around 18%

[Anonymous]

16.9% of gross. But paying out over $1K/mo for child support & kids in college (DH was a busy, busy young man..) means we still have very little wiggle room.

[Anonymous]

You should not exceed 29% of your gross pay for your house payment. Nor should you exceed 36% of your gross pay for your total debt obligations including your house payment,auto,credit cards..and so on

[atlastontheroad]

---

WhirledPeasPlease wrote:

I'm right there with you!    This is one reason I look forward to going back to school in the fall!

4 months ago the mtg alone was 23%, after ARM adj it's at 29% --

realistically w/ a 6% rate it would be around 18%

---

Like I should be surprised? 

I started a second master's degree on January 3rd.  Eighteen months, a bit less than 10k, classes every (yes, EVERY) Sunday from 8A-4P.  At the end, I sit for administrative certificates (first time they've "tested" for these certificates). 

It pays for itself over the course of three years even without taking the step to leave my current position.  Not a bad ROI, IMO.

[momof2]

keegster---

I live in cali and my rent is $875 for a small 2 bedroom apartment with my DH our 2 kids, if i were to be able to drop my % under 36 cause thats what were paying on just the rent for net take home, then we would be living in the most worst side of this town, not to mention cali doesnt exactly have the greastest wages,    times are rough for so many people heck my city has the highest foreclosure rates in all of the USA for the last 5 months and its still climbing.

but what i am actually getting at is that your not suppose to spend more then 36% of net income for rent, CC's auto laonds, utilities, gas, food, babysitting, etc, etc, or just rent and accounts that are listed on your CR's?

[Anonymous]

I rent.  My rent + utilities is 31% of my net and 24% of my gross, and I feel quite comfortable (financially).  If I was to a buy comparable house my monthly expenses would double.  I'm happy with renting for now!

Message Edited by rebuilder on 04-11-2008 06:38 AM

Message Edited by rebuilder on 04-11-2008 06:38 AM

[fishbjc]

We're at 25% of take-home.  You renters have me jealous.  If I had to do it over again in this economy, I'd definitely rent.  Let someone else worry about the repairs and the upkeep.  It's never ending! 

[bott6698]

WOW 33% of gross income. LOL If I was at 33% I would be paying $2,970.00 MAN I could have a nice house for that!  I currently pay 15% $1,350  ARM on a $107,000.00 mortgage and broke all the time LOL 4 kids are expensive!!!

[LittleCat]

I'm around 35%. I am single and live in Marin County, California. Yep, I could move if I wanted, but I do not. I am a bicycling geek and Northern Cali is the best playground in the world for cycling....so yes it's high, but I am paying for location.