How much of your monthly income goes into your housing costs?

[Bucky]

When I was in high school I was told that in my personal budget I should plan for 1/3rd of my income to go towards housing. What percentage of your household income is going toward keeping a roof over your head--not utilities like electricity & gas, but just housing. For the purposes of this survey, count mortgage payments, but don't pro-rate out your annual property taxes.

[ejpoeta]

1. oh, didn't see the property taxes. i believe they should count because if you don't pay taxes

you don't have a house.

[Bucky]

4. I'm interested in market forces, not government policies.

Admittedly this makes the survey (like all lifestyle surveys must be) apples & oranges, since the cost of taxes is folded into the payments that renters make. But you could make the same arguments about including household utilities into a survey of sheltering costs. I'm just interested, for right now, in what the housing industry is doing to people's lives.

[ejpoeta]

21. well our house is paid off so we only pay taxes. so i put 0 after i noticed

the part about without taxes.

[OnlinePoker]

2. I guess I'm one of the fortunate ones

My mortgage and taxes combined only come to 25% and would have been lower but we increased our payments as our income went up.

[Shrek]

3. About 2%

Home is paid for so all I have is property taxes.

[Bucky]

5. If I may ask, how does that effect your lifestyle choices?

How much do you end up putting into household maintenance? How much do you end up not working because you don't have to worry about paying a note?

[Shrek]

13. Househouse maintenance is probably pretty average

Probably our biggest financial outlay at the moment would be the college expenses for our son.

My work schedule hasn't changed much, but no mortgage means we can live on one income since my wife has some spine problems and can't work any more. We like to leave beneath our means so not having a mortgage removes a possible source of stress. If we happen to encounter a financial rough patch we know we'll at least have a place to live.

[dipsydoodle]

9. Same here

Paid the mortgage off over 10 years ago.

[FreeJoe]

6. Paid for house

Before that, it was about 20%. Back in my apartment days, it was generally about 20-25%. I've spent most of my life in relatively cheap housing areas and have kept to smaller places relative to my peers.

[Bunny]

7. 16%. I rent.

[JoePhilly]

8. about 23% now, was about 17% but we just refinanced to a lower

interest rate and converted from a 30 year, to 15 year mortgage.

[barbtries]

10. i'm at 29%

and this is a reflection of the good fortune that has come my way just in the past 3 or so years. before that, when i was still struggling like hell in CA, two weeks of every four my pay went to rent. i moved to NC when my rent was raised another $250/month and i knew there was no way i could make it.

[Earth_First]

11. 4.8%

We purchased a starter home well within our means in order to adapt to future situations which are beyond our control.

Good move.

[hobbit709]

12. Mortgage is paid off

But I still have to set $250/mo aside for taxes. I might make $400 a month in a good month. In a year I'll get SSI, that will help. Luckily my medicines only costs me $56/mo for my meds and I get medical care through the VA.

[Dawgs]

14. These #'s can't be right.

Bunch of hippies, living off the government, should have no housing costs.

[Autumn Colors]

15. I can't vote because ad is blocking "vote" line on top 3 choices

Count me as an additional 50-70% or it WAS that much ... and that's why my home is going into foreclosure. Now, it's ZERO (until I get kicked out).

When I purchased the house, it was less than 30% of my income ... but my income dropped drastically.

So it goes. Welcome to the new normal.

EDIT: And yes, I know that donating gets rid of ads, but I'm "just a tad" strapped for cash right now (even without the the housing cost for a few months).

[OneTenthofOnePercent]

16. if you paid less for housing costs you could donate and not have the AD obstruct the poll...

The irony is that if you paid less for housing you also would not have to vote for the top three choices thereby rendering an obstructing a moot point.

I delare this poll obstructionally biased by design and a conspiracy to skew results to look more "normal" :tinfoilhat:

[WatsonT]

17. About 20-30%

Housing is cheap here.

[happyslug]

18. Where the list for less then 10%????

Johnstown is dead, jobs are scarce, but if you have a source of Income, rent is cheap. I pay less then 10% of my TAKE HOME monthly income on rent and utilities (Notice NOT GROSS Income, take home income).

Now, I also live alone in what is called "Half a double" i.e. a Building built around a common wall, i.e. two homes side by side. It is well insulated so utility costs are low and I have a decent paying job so I end up paying less then 10% of my take home pay as rent. I opt to rent for two reasons, rent is cheap, and I have no faith that if I purchased a place in Johnstown I could ever sell it.

Side note: Public Housing, till Reagan, was fixed at 25% of income (And that included any charges for repairs). Reagan "Fixed" public housing by raising the rent to 30% of Income AND any repairs and damages could be charged to the tenant, in addition to the mandatory 40% cap. In more recent years, Public housing Authorities have even be permitted to charge a "Minimal Fee" (Most cases I have heard has been around $25 a month, even if the person is on welfare and getting no money, for they are adults without children and thus NOT eligible for Welfare) even if that is above 30% of income for the household (Not done locally, but is on the books).

[w8liftinglady]

19. about 40%... it fucking sucks,but this is reality (And I am talking rent)

[Joe Bacon]

20. Half my salary goes for rent

I live in Los Angeles where rents go through the roof. Just less than half my salary goes for rent on an unfurnished single, and I pay for all utliities too...