What percent of your paycheck do you spend on rent?
Wondering what y'all spend on rent. I feel like I'm overpaying for my rent or maybe I'm just underpaid.
I'm paying about 41%.
I know Greater Seattle and Silicon Valley are way to expensive... But it's where the jobs are sadly.
46% in NYC
Guaranteed you are in Manhattan lol.
wow
45% San Francisco
34% Seattle
28% Raleigh
48% San Francisco
45.45% Fremont (Mortgage)
How the fuck did you get approved too on DTI?
I’ve seen DTI go up to 52%, although they needed a really high FICO
I know someone that pays 58% in London but that’s basically the only thing he pays since he works non-stpp
if you work nonstop then why TF would you pay 58% on a place to sleep
About 22%, including bonus (half of which was paid out) in SoCal
edit
17%
We talking gross or net?
About 22% of net in NYC
How did you even get approved? We require 3X income:rent minimum and 2.5-3X is standard.
141% (Paris)
Man, just moved to Paris for a new job, 1st reond are crazy, but i'm getting REF'd by taxes, like actually sad
baisée dans le cul
18%, Manhattan
0% technically homeless
9% of gross/16% of net (Scandinavia).
Major city?
Yes
31% pre-tax, 42% post-tax in MCOL. Super nice place with everything I could want though. I'm fine paying that since that also assumes a 0% bonus and I have zero debt.
24% Gross - Dallas
24% on a gross basis - NYC
Likely to go a lot higher now that I'm looking to live alone. Unless I have a great year which is looking...............
Doubtful
4% gross.
Or 6.5% gross if we're just talking salary.
Y'all are comical, but as an apartment developer, god bless you, each and every one of you.
I'd assume you do very well, living in a low cost of living city? Or did you buy something with a large down payment and low mortgage?
I was roughly that way - paying like 10% gross or so, that now doubled as I moved to a major city (although still significantly less than some others on here.
An apartment developer probably rakes in 200k+ in wages minimum + whatever else he can write-off through the business on top of the equity of his business and the Cash Flows coming in from his rental properties. .
I'm at 4.7% in the midwest (Detroit, Pittsburgh, Cleveland area)
20% of salary 25 bps of All-in Comp
20% - Charlotte
11% of gross including bonus.
15% gross (mortgage )
45% of salary post tax, San Francisco
7% of net/4% gross including bonus, London
15% of gross (mortgage) Chicago
23% In Dallas. But that’s high for my income, since income is lower here than California or New York.
30% of gross, 46% of net, not including bonus, Paris (taxes are just too high in France)
Move to the US!
Manhattan 16% of personal gross wages, bonus excluded 8% of househol gross wages (wifey), bonus excluded
12% of my gross pay bonus excluded, my GF pays half the rent - somehow I still don't save enough money.
Sometimes the answer is right in front of you
16.7% gross / 25.6% net salary only 11.1% / 17.1% including bonus
16% of net in greater Boston. I fucking hate spending money on rent.
damn, either you gotta be making a ton or living in fucking Lynn haha
Haha not quite. My GF and I share a room and have two other roommates..so thats where the discount comes into play.
40% Gross, 56% Net in Palo Alto, CA
12% of gross pay, 18% of net pay in Los Angeles, CA. Just because you can afford to spend more money on rent doesn't mean you should (same concept as buying more house than you can afford). Keep it frugal and bank the rest. Thank yourself later.
In the neighborhood of 1/3 of net base pay, counting parking. Greater NYC, but not Manhattan. I had a rent controlled place uptown, but the math made more sense for me to not live in the city and just eat the higher rent in order to avoid city tax.
15% gross, 21% net (bonus excl.) in downtown Frankfurt
12% pre tax 20% after tax 27% after tax of base salary only (two numbers above were based on total comp)
24% gross, not including bonus
26% of net base salary, Hoboken NJ next to PATH
(it's a s***hole)
London roughly 40% Continental Europe 33%
0.08% in Fallujah
34% net in Atlanta, but it's way too nice a place-- will be closer to 15% next year
19% Pre-tax 28% Post Tax (Parking included) Chicago
Upside: I have a really nice place for someone my age Downside: I have 3 roommates...
To all people working FT: During my first year in working FT, I lived in a dumpster fire excuse for a house (it was a house but super old) paying 11% Pretax and 17% After Tax. Highly recommend to anyone not living in NYC/SV, as I don't think you can save a sufficient amount in rent while living in either location for the trade off in quality of your place/lifestyle to be worthwhile. Couple of my friends did this too and it positioned us very well for making our first move into a "real" place. If you have a couple roommates this is very doable for most people.
46% net
30% in London. The benefits of not being single...
10% net (tier 2 city, mortgage, wife contributes)
for any of y'all who feel bad, don't. consider doing what Deal Team Six buggylovesfinance did. suck it up, have roommates, live below your means, build your war chest. life's too short to be paying 50% of your wages to live in a place you barely spend any time.
Honored to be mentioned by the Goat thebrofessor PS your living situation is the end goal for me. 10% is unreal!
it's not income driven, I'll tell you that, it's all about priorities. had many friends go to NYC/LA/SF for IB or something similar and their first big expense is their apartment. they think they have to have the best location with the best views in the newest building. they imagine patrick bateman's place and think they need that. false.
if people realized it's not the structure in which you live but the way you spend your time that leads to happiness, people would own smaller houses. the idea that increasing income means you should purchase larger square footage needs to die. having a house is a pain in the ass. having a big house is like having shackles around your ankles, it's a neverending cascade of expenses. you live in the nicest building, better have your outfit on point, better have the nicest furniture, better have some good art, better go to all those dinner parties, fuck that man.
I made this mistake while younger, and I cannot recall any life changing memories from my "nicer" apartments. what do I remember? the times I spent with friends when young, the trips I was able to take because I eschewed the nicer building with a doorman, stuff like that.
life is short, and it's hard to enjoy it when you're a slave to a lease agreement (not that renting is uneconomical, just that overpaying is stupid
100% agree! Honestly the true goal is 0%. House hack or buy an apartment building. Have your tenants paying your share of rent/mortgage.
25% but I occasionally Airbnb my place when I'm travelling during long weekends or w.e. It helps quite a bit.
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