2006-12-07 15:33:40 · 9 answers · asked by Eric T 2 in Business & Finance ➔ Personal Finance
We actually dont' spend that much, but we live in this northern mining town where people make under 100000/ year and rent is like 2500/month. Crazyness.
2006-12-07 15:35:42 · answer #1 · answered by Anonymous · 0⤊ 1⤋
I believe that 20%-25% of your income is rule of thumb. When an apt. complex researches your records, your income is a factor whether they accept you or not. They make sure that you can cover rent by comparing the rent to less than or equal to 25% of your income.
2006-12-07 23:35:51 · answer #2 · answered by ami 4 · 0⤊ 0⤋
If you are in the mid west consider buying a condo.
Even better a duplex and let your neighbors pay the mortgage.
2006-12-11 20:58:29 · answer #3 · answered by justme 2 · 0⤊ 0⤋
Crazy, but I pay 45% from my income.
And it is considered as a low price in the city. The prices in my city in average is my 100% salary.
Hate it!
2006-12-07 23:43:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
25%
2006-12-07 23:36:34 · answer #5 · answered by Mr. Right 4 · 0⤊ 0⤋
The rule of thumb is one week's take home pay. So if it is not enough, you still need roommates. Thank Bush for this.
2006-12-08 00:40:12 · answer #6 · answered by commloan 5 · 0⤊ 0⤋
34 % of you income.
2006-12-11 22:22:19 · answer #7 · answered by tysgrandma99 4 · 0⤊ 0⤋
people say it shouldn't exceed 20% but that is not the case for most people
2006-12-07 23:35:54 · answer #8 · answered by BuRn Di WiSdOm WeEd 4 · 0⤊ 0⤋
25% if you are lucky
2006-12-07 23:38:05 · answer #9 · answered by anaconda 1 · 0⤊ 0⤋