What % Of Your Income Is Spent on Housing?
 

Just wondered since the USCIS "Welcome to America" information page states that most Americans spend 25% of their income on housing. I know this would vary state to state but it still seems a bit low. I know we spend closer to 40%.

So, my question is what percentage of your income is spent on housing whether you rent or buy?

Re: What % Of Your Income Is Spent on Housing?
 

If you mean the mortgage for the roof over our heads, we manage < 5%

Re: What % Of Your Income Is Spent on Housing?
 

Yep our mortgage is a pretty low percentage of income too.

Re: What % Of Your Income Is Spent on Housing?
 

Live in California and cash out a couple of ex-wives. That'll soon raise that figure for you. :D

Re: What % Of Your Income Is Spent on Housing?
 

That's a bit of personal question, innit?

Re: What % Of Your Income Is Spent on Housing?
 

40% -- she said!

Re: What % Of Your Income Is Spent on Housing?
 

I guess, but you can only derive their income if you know the percentage and monetary value.

Mine's 0% at the moment, will soon be more like 30%.

Re: What % Of Your Income Is Spent on Housing?
 

We spend about 30% of income on mortgage - we pretty much maxed out - I didn't see the point in not taking as much as we can get - at just over 5% fixed for 15 years with tax deductible interest, I reckon its a good call on the (overseas) bank rates alone, but also, over the term of the mortgage I think I can make a return on that capital of significantly more than 5%, so made sense to keep the capital free to play with.

Property taxes obviously add quite a bit to that 30% - our current rate is 4% of property value...

Re: What % Of Your Income Is Spent on Housing?
 

Well there ain't nowt in LaLa land for under a squiggillion.

Re: What % Of Your Income Is Spent on Housing?
 

Is the percentage just for the mortgage/rent or does it have to include utilities and insurance aswell? Makes a big difference.

Re: What % Of Your Income Is Spent on Housing?
 

Not really the done thing now is it, us Brit's seem to be a bit more reserved when it boils down to cash flow :)

Re: What % Of Your Income Is Spent on Housing?
 

I can only afford Donald Duck's shed.... when I'm older I might have enough to live in the Fairy Tale Palace.

Re: What % Of Your Income Is Spent on Housing?
 

0%

Re: What % Of Your Income Is Spent on Housing?
 

about 30%

Re: What % Of Your Income Is Spent on Housing?
 

rent = ~30% in La La land.