What percentage is housing?

iVillage Member
Registered: 08-19-2003
What percentage is housing?
2
Mon, 07-11-2005 - 1:13pm

I have come to realize that I think are housing (mortgage) is a really high payment for our income. Its 48% of our monthly income.

Anyone else that has a high rent or mortage percentage?

Shannon


Pregnancy%20ticker
iVillage Member
Registered: 04-27-2004
Mon, 07-11-2005 - 1:59pm
Each month my mortgage and association dues are around 50% of my take home income. I know that is too high yet right now that is where it's at until I can make a dent in other debts to work things out to something more reasonable.
iVillage Member
Registered: 02-19-2004
Mon, 07-11-2005 - 9:17pm

My rent is 24% of my take home pay. I am planning to buy a townhome at the end of the year, and the mortgage will likely be 43% of my take home pay (plus whatever the association fees are). That seems high, but right now the combination of rent plus dd's daycare is 47% of my take home pay so I think I'll be okay (dd will go to public school when I move, saving me lots of cash that I plan to give a mortgage lender every month instead).

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