Just wondering how we stack up compared to other forums
As of jan 1, 2022, the answers here are:
13 ppl pay =< 33% of monthly income on rent / property tax
6 ppl pay > 33% of monthly income on rent / property tax
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Do you own it on papers though? Good luck on the renovations :)
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Hehe. How many people are involved in that project? if you’d like to make a post about it i’m curious :)
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oh, sorry to rub the wound then! good luck!
PhD student renting in a big city in Europe. About 35%.
Same…
I wish us the best of luck in the future 😅
Thanks! You too!
I own. I’m absurdly frugal and my personal religion forbids usury. When I married we basically put our incomes together for seven years and came out of it with enough money to buy a nice home outright.
I cannot imagine buying in this market. We purchased just before it all blew up, and even then we considered it an asset bubble.
The whole thing is rigged against anyone and everyone sitting below the top 5%, especially in the southern hemisphere and especially in the USA.
We spend and put aside about 10% of our net income toward the home. Property taxes, utilities, and maintenance.
About 15% of my after tax income I guess.
I’m in a regional centre (not a big city) though which makes a rent cheaper.
Edit: turns out, in Australian cities average rent cost is about a third of the average income.
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About 25% after taxes in Northeast Ohio, USA.
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It’s a gif
I live in Toronto.
I recently rented for about 1/3 of my post-tax income.
I now own and condo fees, mortgage and property tax are about 1/2 of my post-tax income but currently my partner who lives with me is helping which puts my contribution at about 1/3 again.
Almost 15%, 3 room apartment in eastern Europe.
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Own my own house (when it’s paid off in 2 years) but 11.4% of my income goes to paying it off. Obviously when I bought it that percentage was a lot higher, but as the years pass, the payment basically stays fixed while your income has been going up.
Nitpicking, but this is not obvious across all industries. In many fields, people’s wages barely go up with time.
If a job’s income does not go up over 20 years, that is hardly very sustainable…
It usually goes up, though not necessarily faster than inflation. Outside of IT and public service, many older people are still paid minimum wage. (i don’t have stats on that sorry)
True I was in public service (IT side) and although is not the best, the benefits add up, as does the annual increases over the years (problem is many can’t stick it out that long, especially in public service)…
Public service IT (except for secret services / military) sounds good indeed :)
Can’t say I don’t cover all the bases ;-)
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I’ve retired from work so not in any field of work any more… but when working was in the police and then in IT
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Remember, police do a very wide range of activities - not everyone walks around dressed in blue with a truncheon ;-)
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My rent is about 23% of my net income. A nice condo Casablanca.
