What percentage of your monthly take-home income do you pay for rent/mortgage?

I've heard that your rent/mortgage should be 25% of your take home income......I can only wish for that living in Southern California; my rent is $900 (but it includes utilities also) and I bring home about $2400 a month....so I'm paying 37.5% of my income on rent.What percentage of your monthly take-home income do you pay for rent/mortgage?
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housing mortgage only covers Principle/interest not taxes housing association insurance up keep empty house syndrome transportation costs higher utilities.


after take can u live on what is left.


invest in increasing ur income and reducing ur out go. Then save like there is no tomorrow. i'll not get to visit.


do not buy into the 25% of gross or i'll visitWhat percentage of your monthly take-home income do you pay for rent/mortgage?
30%
my grandad used to make a dollar a day and their rent was 10 bucks a month .. that was wayyy back when. He worked 30 days made 30 bucks.. thats 33 1/3 percent of gross and times are still just about the same. A good suit in 1920 cost an average weeks salary, and in 2007 a good suit cost an average weeks wages. so all in all everything has remained about the same. If you factor in the fact you have all utilities paid for you are probably coming out ahead.
I would suggest 25% to 30% of your take home pay is reasonable. I know that most people will tell you to use the gross pay method, but that doesn't make sense to me since you don't see that money, you work with net dollars in your real world. If you want to buy a home, I would suggest you get a 2 bed 2 bath or bigger and find a buddy or two that you trust pay the rent to buy it with you. You guys can have a decent place to live and enjoy home ownership. I would have a plan in place that after you get so much appreciation in the value of the property that you can sell the home, and split the profits.
I've always heard 1/3rd is the max you should spend toward housing costs.





You are a bit high but not completely out of whack. Get a roommate and you drop to 19% overnight!





Personally, I pay $0 for mortgage since my house is paid off, but we still pay $200 per month for property taxes and house insurance.
The number is anywhere from 25%-28% of your income. However, it is from your GROSS pay, not your TAKE HOME pay. Gross pay is before any taxes or deductions. Then when they came up with the percentage they are already taking into account any taxes or deductions you would have taken out.
I think you're right; it all depends on where a person lives.


Where I currently live, our rent is only about 25% of our combined income, but that's because its a pretty boring place to live.


I want to move, but if we did, our income would have to increase quite a bit if we are to keep the same standard of living we now have.


So, either I stay bored living in Flyoversville, or we move and I still stay bored because we no longer have the cash to go anywhere!