# Your monthly rent or mortgage payment to income ratio **URL:** \ **Category:** In My Humble Opinion\ **Created:** [July 7, 2011, 2:43am UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122 "2011-07-07T02:43:22Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![FoieGrasIsEvil](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/foiegrasisevil/32/16638_2.png) [@FoieGrasIsEvil](https://boards.straightdope.com/u/FoieGrasIsEvil)\ **Post date:** [July 7, 2011, 2:23pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/21 "2011-07-07T14:23:50Z")
Homeowner, 30.5%. My credit isn’t great (I should say that my soon-to-be-ex-wife’s credit is really bad and dragged down our ability to get a better rate, since she is still on the mortgage for now) so my rate is 6%. ---
**Author:** ![Hokkaido\_Brit](https://avatars.discourse-cdn.com/v4/letter/h/d26b3c/32.png) [@Hokkaido\_Brit](https://boards.straightdope.com/u/Hokkaido_Brit)\ **Post date:** [July 7, 2011, 2:24pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/22 "2011-07-07T14:24:42Z")
Homeowners, 21% of our joint income. ---
**Author:** ![RTFirefly](https://avatars.discourse-cdn.com/v4/letter/r/c77e96/32.png) [@RTFirefly](https://boards.straightdope.com/u/RTFirefly)\ **Post date:** [July 7, 2011, 2:28pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/23 "2011-07-07T14:28:33Z")
Our monthly payment is about 10% of our gross income, so it’s safely below 20% of take-home. ---
**Author:** ![Moonlitherial](https://avatars.discourse-cdn.com/v4/letter/m/4bbf92/32.png) [@Moonlitherial](https://boards.straightdope.com/u/Moonlitherial)\ **Post date:** [July 7, 2011, 2:56pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/24 "2011-07-07T14:56:57Z")
Homeowner - 14.5%. When I was out of work it was about 30%, and I don’t even want to do the calculations on our previous house, but probably close to 35% and that was with both of us working and another 5% of our income going to work related transportation expenses. ---
**Author:** ![mske](https://avatars.discourse-cdn.com/v4/letter/m/ccd318/32.png) [@mske](https://boards.straightdope.com/u/mske)\ **Post date:** [July 7, 2011, 3:06pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/25 "2011-07-07T15:06:19Z")
Homeowner - 31.7%. Fucking New York State property taxes are almost as much per month as the P&I for my mortgage. ---
**Author:** ![markdash](https://avatars.discourse-cdn.com/v4/letter/m/ba8739/32.png) [@markdash](https://boards.straightdope.com/u/markdash)\ **Post date:** [July 7, 2011, 3:15pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/26 "2011-07-07T15:15:08Z")
We’re taking it in the shorts: about two-thirds. Mitigating circumstances–my wife is currently a stay-at-home mom, AND we have been getting some financial assistance from her parents. At such point as my wife finds gainful employment, that number will drop all the way down to about 25%. ---
**Author:** ![Rachellelogram](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/rachellelogram/32/8689_2.png) [@Rachellelogram](https://boards.straightdope.com/u/Rachellelogram)\ **Post date:** [July 7, 2011, 3:52pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/27 "2011-07-07T15:52:04Z")
My ratio is about 35%, could be a bit smaller if I do some overtime hours but usually I don’t. Also, that amount INCLUDES all of my utilities except phone. Water, gas, air conditioning, electric, internet, blahblah. Rent here for my own place would be too freaking high, there’s no way I could afford to live on my own and pay for utilities (I’m renting a room in a house at a fixed rate, $600/month all-inclusive). ---
**Author:** ![jackdavinci](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jackdavinci/32/3259_2.png) [@jackdavinci](https://boards.straightdope.com/u/jackdavinci)\ **Post date:** [July 7, 2011, 3:52pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/28 "2011-07-07T15:52:27Z")
Divide by zero error! ---
**Author:** ![Living\_Well\_Is\_Best\_Revenge](https://avatars.discourse-cdn.com/v4/letter/l/6bbea6/32.png) [@Living\_Well\_Is\_Best\_Revenge](https://boards.straightdope.com/u/Living_Well_Is_Best_Revenge)\ **Post date:** [July 7, 2011, 4:29pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/29 "2011-07-07T16:29:27Z")
Mine was 24%, homeowner. ---
**Author:** ![Mama\_Zappa](https://avatars.discourse-cdn.com/v4/letter/m/71e660/32.png) [@Mama\_Zappa](https://boards.straightdope.com/u/Mama_Zappa)\ **Post date:** [July 7, 2011, 4:31pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/30 "2011-07-07T16:31:57Z")
Right about 25% right now, after a recent refinance. Originally, it was more like 33% when we bought 9 years ago; since then we’ve had some small raises and of course the refi’s which lowered the payment (admittedly by extending the term; we’re trying to prepay a bit to even it out). Of course, the take-home includes a lot put toward retirement and flex spending. As a percentage of gross it’s much less, maybe 15%. I’d always heard it should be 25% or less of _gross_, not take-home. ---
**Author:** ![bordelond](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bordelond/32/150_2.png) [@bordelond](https://boards.straightdope.com/u/bordelond)\ **Post date:** [July 7, 2011, 4:35pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/31 "2011-07-07T16:35:46Z")
> [@Mama\_Zappa](#): > > I’d always heard it should be 25% or less of _gross_, not take-home. When we were living in apartments (late 90s), a lot of places would evaluate your fitness to rent by ensuring that your monthly pay averaged out to three times the monthly rent. That yields an suggested 33% of your take-home. 25% of your take-home pay being suggested so that you can get ahead financially, however … that makes a lot of sense. ---
**Author:** ![StGermain](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/stgermain/32/2868_2.png) [@StGermain](https://boards.straightdope.com/u/StGermain)\ **Post date:** [July 7, 2011, 4:39pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/32 "2011-07-07T16:39:28Z")
Single homeowner. I’m at 24%, estimating my income taxes, but not counting everything taken from my check (401K, health insurance, etc). 15 year fixed at 4.25%, to be paid off in 6.5 years. StG ---
**Author:** ![bouv](https://avatars.discourse-cdn.com/v4/letter/b/bc8723/32.png) [@bouv](https://boards.straightdope.com/u/bouv)\ **Post date:** [July 7, 2011, 4:48pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/33 "2011-07-07T16:48:08Z")
Single renter, living with one roomate, and I calculated it to about 22%, but then I realized I forgot to include my part-time, one night a week serving job, so that bumps it down to ~18-19% (hard to say for sure, since the money I make Saturday nights can vary.) I actually live in a fairly cheap place for the area and number of roommates. Usually to get this cheap requires at least 3 or 4 roommates. ---
**Author:** ![Valgard](https://avatars.discourse-cdn.com/v4/letter/v/7feea3/32.png) [@Valgard](https://boards.straightdope.com/u/Valgard)\ **Post date:** [July 7, 2011, 4:57pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/34 "2011-07-07T16:57:06Z")
I own my home, mortgage + taxes + insurance is approximately 50% of my take-home pay. This isn’t necessarily unusual in the SF Bay Area where even with the major hits in the real estate market home prices have gone from “Are you out of your freaking mind” to merely “Somewhat utterly insane”. I also max out my 401K and that’s pre-tax dollars so that might skew things a bit. As does the fact that a there’s a big tax deduction (all the mortgage interest and property taxes). Not insubstantial, my property taxes are over $600/month. This is for a decent but not great 4BR/2BA home in a good (but not great) neighborhood. ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [July 7, 2011, 5:09pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/35 "2011-07-07T17:09:56Z")
11%. Wife and I make pretty good money, and we bought a house that not ridiculously oversized for our needs. When we bought it 5 years ago, we were earning less, property taxes were higher, and the interest rate on our mortgage was somewhere around 6%; our payment was about 16% of our take-home pay. Since then: -I’ve had several COLA adjustments to my salary; -my wife got promoted (bumping her salary up by about 60%); -my side business took off; -we refinanced to 4.5%; -our property tax dropped substantially due to the deflation of property values. And that’s how we are now at a payment that’s 11% of our take home pay. ---
**Author:** ![papergirl](https://avatars.discourse-cdn.com/v4/letter/p/aca169/32.png) [@papergirl](https://boards.straightdope.com/u/papergirl)\ **Post date:** [July 7, 2011, 5:27pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/36 "2011-07-07T17:27:34Z")
Single homeowner, 24%. That’s if I add in the Christmas tips as an average…if not (since I actually blow it all at Christmas), closer to 26%. It varies a little with my hours. ---
**Author:** ![Necros](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/necros/32/11086_2.png) [@Necros](https://boards.straightdope.com/u/Necros)\ **Post date:** [July 7, 2011, 6:00pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/37 "2011-07-07T18:00:09Z")
Homeowner, 15.9%. ---
**Author:** ![Happy\_Fun\_Ball](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/happy_fun_ball/32/17664_2.png) [@Happy\_Fun\_Ball](https://boards.straightdope.com/u/Happy_Fun_Ball)\ **Post date:** [July 7, 2011, 6:43pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/38 "2011-07-07T18:43:57Z")
You didn’t say if I should use family income or my individual income. I decided to use family. Homeowner, 19%. If individual, it is more like 44%. ---
**Author:** ![Boyo\_Jim](https://avatars.discourse-cdn.com/v4/letter/b/87869e/32.png) [@Boyo\_Jim](https://boards.straightdope.com/u/Boyo_Jim)\ **Post date:** [July 7, 2011, 7:10pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/39 "2011-07-07T19:10:37Z")
Being unemployed with a mortgage, more than 60% of my income goes straight into my mortgage. ---
**Author:** ![alice\_in\_wonderland](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alice_in_wonderland/32/176_2.png) [@alice\_in\_wonderland](https://boards.straightdope.com/u/alice_in_wonderland)\ **Post date:** [July 7, 2011, 7:26pm UTC](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122/40 "2011-07-07T19:26:24Z")
Home owner - about 10%. [Previous page](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122.md?page=1) [Next page](https://boards.straightdope.com/t/your-monthly-rent-or-mortgage-payment-to-income-ratio/588122.md?page=3)