Housing Costs...

[Sagar]

I heard a report recently on how housing costs, as a percentage of gross income, are rising and have passed the usually goverment threshold of 30%.

That got me to thinking.. how much of your income do you pay for housing (rent or house payment + insurance .. but not utilities)?

[Caranthir]

About 21% here (just rent for my apartment).

[Asharad]

We talking a percentage of pre-tax or after tax income?

[Sagar]

Gross income - pretax

Ours is just above 10%.

[shadowgate]

I would say all combined around 35% of my(our) income. Wasn't that bad before I became the sole bread winner.

[Caranthir]

Oops, I went post-tax. Pre-tax its more like 13%.

[Asharad]

Gross income - pretax

Ours is just above 10%.

Oh yeah...I should learn to read.
24% or so.

[EricStratton]

Ours is right around 30%. If we factor in the fact that our renter pretty much pays for Joy's mortgage, it of course goes down.

[Andrea]

Mine is 19.9%, so I am just gonna round up to 20%

[Greebo]

Pre-tax, 13.4%. The mortgage companies tried to get me into a house based on 30% of my income, I told em to stuff it.

[Kiir]

It is right around 20% of our income, but when you factor in the second morgage it rises to around 30%.

[Lycos]

I'd estimate around 17%. Mortgage, Insurance, and Taxes.

[Shiz]

No mortgage any more, but I left out taxes when I voted "live free." Taxes are about 4% of gross income. You can hate me for not having a mortgage but it makes me kick my heels together!

[Drax]

prior to Becky's job change - 24.1% (ie, May and before)

During the summer (only my income) - 30%

Since Becky's new job - 21.5% (whew)

[Raveneye]

Poll should read either 10%-19% or 21%-30%, 20% is on there twice.

We come in right at 20% (which is how I noticed the discrepency). It was much higher than that until earlier this year when I got a significant income boost. Anyway, housing is 20% and childcare (daycare, school tuition and support for my older son) comes in at another 13%, so 33% of my pre-tax income goes to just those two things. You can imagine what that leaves me post-tax. :frown:

[Erudite]

Anyway, housing is 20% and childcare (daycare, school tuition and support for my older son) comes in at another 13%, so 33% of my pre-tax income goes to just those two things. You can imagine what that leaves me post-tax. :frown:

I hear ya. :~ Housing is ~10% right now, although it'll go up unless we refinance when our ARM kicks in come July/August. Childcare is about 12% - more than our mortgage, taxes, and home insurance right now.

[DirkDarkBlade]

Mine is about 15%.

[Greebo]

Poll should read either 10%-19% or 21%-30%, 20% is on there twice.
Anal. :)

[Andrea]

yeah, freakin' childcare is 18% for me. But then I am glad its only during the summer when they are out of school!

[Greebo]

Oops, 18% not 13% - Me + math = orange green.

[Raveneye]

Anal. :)

No thanks, I watched enough Nip/Tuck already this week. :lowrazz:

[Andrea]

Anal. :)

No thanks, I watched enough Nip/Tuck already this week.

There was anal this week? Maybe I missed it when I was blinded by the sex scene with Christian.

[Zyzzyx]

Currently? Living free. Well, kinda. I do have to put up with my parents. ;)

But, I voted for my previous situation in SoCal. Was renting a room in a four bedroom house; all bedrooms were rented out, was kinda like a mini-dorm. There, rent was 22% of pre-tax income.

Looking at likely scenarios here in WA: should end up with a better income, but will be paying mortgage/insurance instead of just rent; will probably be 25-30%. But at least that'll be an 'affordable' mortgage and I can own a house, and I'm still making just above peanuts. But, its better than dealing with the insanity of housing costs in SoCal, where some of my friends were spending up to 50% of their income just on the house. Or where they'd both work, and basically one income was paying for the house. And that's with incomes far, far above what I was making.

[Serani]

28% on my income alone, that's strictly rent. Hopefully, that situation will change in the very near future and there'll be two incomes to consider.

[leng]

<10% Mortgage is almost paid off - the only reason I haven't cleared it is that I can draw against the overpayment and it is a good source of emergency finance, so the only direct expenses are property tax and insurance.

Actually, this year was expensive due to the new roof, but I've amortized that over the expected lifetime of the thing.

[Drax]

the only direct expenses are property tax and insurance.
Actually, the percentages I provided were based on how much we devote to mortgage, insurance, and tax per month or year, depending on how you want to look at it.

[leng]

Actually, the percentages I provided were based on how much we devote to mortgage, insurance, and tax per month or year, depending on how you want to look at it.
Yes, I was making the point that I was excluding maintenance, decorating, home repair/improvement etc ... mainly 'cause I generally don't do that sort of thing.:roll:

[Tulenyre]

Gross income - pretax

Could of said that before I voted!

About 8-10% here then (I lose alot to taxes).

[GravenStone]

Just shy 25%, for now.

[Draknor]

About 6% - no mortgage but I do have a small equity loan. Probably closer to 8-10% if you include property taxes.

[attriel]

I went with 30, but that includes the equity loan. and the fact that it's a 20yr mortgage not a traditional 30yr.

otherwise it'd probably be 20-25

[SparrowHawk]

about 12% of gross income.

[Barrack]

A bit over 30%. Houseing costs are insane here in Denver.

And that is with April assisting. Before that it was like 50% after the refinance.