What % Of Your Income Is Spent on Housing?
Apr 18th 2006, 8:56 pm
#1
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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?
So, my question is what percentage of your income is spent on housing whether you rent or buy?
Apr 18th 2006, 9:01 pm
#2
Septicity
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by CaliforniaBride
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?
So, my question is what percentage of your income is spent on housing whether you rent or buy?
If you mean the mortgage for the roof over our heads, we manage < 5%
Apr 18th 2006, 9:05 pm
#3
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by fatbrit
If you mean the mortgage for the roof over our heads, we manage < 5%
Apr 18th 2006, 9:05 pm
#4
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by fatbrit
If you mean the mortgage for the roof over our heads, we manage < 5%
Apr 18th 2006, 9:08 pm
#5
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by CaliforniaBride
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?
So, my question is what percentage of your income is spent on housing whether you rent or buy?
Apr 18th 2006, 9:11 pm
#6
Septicity
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Celsius
That's a bit of personal question, innit?
Last edited by fatbrit; Apr 18th 2006 at 9:12 pm. Reason: And then she edits it out. Oh well!
Apr 18th 2006, 9:15 pm
#7
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Celsius
That's a bit of personal question, innit?
Mine's 0% at the moment, will soon be more like 30%.
Apr 18th 2006, 9:17 pm
#8
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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...
Property taxes obviously add quite a bit to that 30% - our current rate is 4% of property value...
Apr 18th 2006, 9:18 pm
#9
Septicity
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by anotherlimey
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%.
Mine's 0% at the moment, will soon be more like 30%.
Apr 18th 2006, 9:18 pm
#10
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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.
Apr 18th 2006, 9:18 pm
#11
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by Celsius
That's a bit of personal question, innit?
Apr 18th 2006, 9:20 pm
#12
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by fatbrit
Well there ain't nowt in LaLa land for under a squiggillion.
Apr 18th 2006, 9:35 pm
#13
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Re: What % Of Your Income Is Spent on Housing?
Originally Posted by CaliforniaBride
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?
So, my question is what percentage of your income is spent on housing whether you rent or buy?
Apr 18th 2006, 9:51 pm
#14
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Re: What % Of Your Income Is Spent on Housing?
about 30%
Apr 18th 2006, 9:54 pm
#15
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Re: What % Of Your Income Is Spent on Housing?
rent = ~30% in La La land.
