Reasonable house renting question

Discussion in 'Community Discussion' started by dukebound85, Jan 4, 2009.

  1. dukebound85 macrumors P6

    dukebound85

    Joined:
    Jul 17, 2005
    Location:
    5045 feet above sea level
    #1
    Approximately what % of your gross pay (before taxes) should you allot for renting (no utilities included)

    Just trying to get an idea on what's considered smart in a sense

    Thanks!
     
  2. bruinsrme macrumors 601

    bruinsrme

    Joined:
    Oct 26, 2008
    #2
    I think age, income, and locale play into that call but I would say 25% - 35%
     
  3. dukebound85 thread starter macrumors P6

    dukebound85

    Joined:
    Jul 17, 2005
    Location:
    5045 feet above sea level
    #3
    how about 23, mid 50's pay and upstate NY lol

    you think 925 (no utilities) but has internet and cable included is pretty reasonable?
     
  4. r.j.s Moderator emeritus

    r.j.s

    Joined:
    Mar 7, 2007
    Location:
    Texas
    #4
    Depends on more than that.

    House or Apartment? How many bedrooms/bathrooms? Sq. Ft.? Size of yard? Neighborhood/neighbors?

    If you can, try to find out what the average is for that area, you might have to ask a realtor. Take all of that into consideration for a specific place.

    As far as percentage of pay - about 25% is good.
     
  5. dukebound85 thread starter macrumors P6

    dukebound85

    Joined:
    Jul 17, 2005
    Location:
    5045 feet above sea level
    #5
    Apartment includes full size washer/dryer, private garage under apartment with opener, 913square feet 1 bed room 1 bath. In a decent neighborhood according to police station I called

    Brand new.


    Yea I'm reading online its a tad higher than average (maybe 50-75 more a month)

    Just dont want to sign a lease that would be stressful if you know what i mean
     
  6. dmr727 macrumors G3

    dmr727

    Joined:
    Dec 29, 2007
    Location:
    Southern California
    #6
    A lot of places around here won't rent to you if it's more than about a third of your gross pay. But I agree with the others that 25% is reasonable.
     
  7. dukebound85 thread starter macrumors P6

    dukebound85

    Joined:
    Jul 17, 2005
    Location:
    5045 feet above sea level
    #7
    good deal. so 20% of my gross before taxes and utilities should be fine i reckon


    thanks for the help guys!
     
  8. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #8
    general rule of thumb is rent should be less than 25% gross
     
  9. rumourguy macrumors member

    Joined:
    Nov 27, 2008
    Location:
    hunched over my mac, pathetic loser
    #9
    god thats a steal.
     
  10. leishan macrumors 6502

    Joined:
    Jan 29, 2005

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