Poll: BHs who rent - what % of gross do you spend on rent?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
CheeseFlip
Posts: 40
Joined: Sun Dec 11, 2016 9:15 am

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by CheeseFlip » Sat Jan 13, 2018 6:33 pm

30%. Single income household.

We don't like renting, but the job requires moving every 1-3 years.

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ram
Posts: 986
Joined: Tue Jan 01, 2008 10:47 pm
Location: Midwest

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by ram » Sat Jan 13, 2018 7:30 pm

It was 25% when I was a medical resident and wife was SAHM.
Later it was 3% of combined income when I was an attending physician and wife was a medical resident and we were living in an old house adjoining the medical complex. (subsidized by her employer). Our current house would rent for 6 to 8% of our current combined income.
Ram

investingdad
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Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by investingdad » Sat Jan 13, 2018 8:56 pm

When I was single 20 years ago, I paid 16% of gross for a single bedroom apartment.

33k a year, 450 a month rent.

Slowtraveler
Posts: 29
Joined: Wed Jan 10, 2018 10:21 am

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by Slowtraveler » Sat Jan 13, 2018 9:46 pm

.76%

Will likely move to 1-2% down the line.

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flamesabers
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Location: Rochester, MN

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by flamesabers » Tue Jan 16, 2018 11:44 am

About 19% for a two-bedroom apartment.

pross
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Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by pross » Tue Jan 16, 2018 11:50 am

14.4 percent, outer borough of NYC

HRPennypacker
Posts: 50
Joined: Thu Oct 19, 2017 2:44 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by HRPennypacker » Tue Jan 16, 2018 11:51 am

Slowtraveler wrote:
Sat Jan 13, 2018 9:46 pm
.76%

Will likely move to 1-2% down the line.
Teach me, Maestro...

PFInterest
Posts: 1057
Joined: Sun Jan 08, 2017 12:25 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by PFInterest » Tue Jan 16, 2018 11:54 am

10%. HCOL.

MrNewEngland
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Joined: Sun Sep 28, 2014 11:38 am

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by MrNewEngland » Tue Jan 16, 2018 12:20 pm

I’m shocked at how low most people’s numbers are.

ny_knicks
Posts: 187
Joined: Wed Jan 04, 2017 11:20 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by ny_knicks » Thu Jan 18, 2018 9:29 am

VHCOL - Manhattan DINK

~13% for one bedroom apartment

Could have gone lower but chose to go with slightly higher end building with close proximity to work

scotgirl100
Posts: 9
Joined: Sun Jun 05, 2016 1:45 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by scotgirl100 » Thu Jan 18, 2018 12:07 pm

22.5% in South Loop, Chicago

Jags4186
Posts: 1848
Joined: Wed Jun 18, 2014 7:12 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by Jags4186 » Thu Jan 18, 2018 12:09 pm

HRPennypacker wrote:
Tue Jan 16, 2018 11:51 am
Slowtraveler wrote:
Sat Jan 13, 2018 9:46 pm
.76%

Will likely move to 1-2% down the line.
Teach me, Maestro...
$10,000,000 income, $6333/mo rent :wink:

nimo956
Posts: 701
Joined: Mon Feb 15, 2010 6:07 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by nimo956 » Thu Jan 18, 2018 12:10 pm

I live is Boston and spend 13% on rent+util. The key is to split the cost with a roommate or SO.
50% VTI / 50% VXUS

ty3657
Posts: 9
Joined: Tue Sep 17, 2013 9:11 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by ty3657 » Thu Jan 18, 2018 12:14 pm

11% in HCOL - dual incomes, 1 bedroom we've been in for 5+ years certainly helps.

HRPennypacker
Posts: 50
Joined: Thu Oct 19, 2017 2:44 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by HRPennypacker » Thu Jan 18, 2018 12:16 pm

Jags4186 wrote:
Thu Jan 18, 2018 12:09 pm
HRPennypacker wrote:
Tue Jan 16, 2018 11:51 am
Slowtraveler wrote:
Sat Jan 13, 2018 9:46 pm
.76%

Will likely move to 1-2% down the line.
Teach me, Maestro...
$10,000,000 income, $6333/mo rent :wink:
Oh, of course. I'll get right on that. How silly of me.

bigdoofus
Posts: 19
Joined: Mon Apr 11, 2011 6:51 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by bigdoofus » Thu Jan 18, 2018 12:25 pm

11% in NYC

nimo956
Posts: 701
Joined: Mon Feb 15, 2010 6:07 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by nimo956 » Thu Jan 18, 2018 12:28 pm

MrNewEngland wrote:
Tue Jan 16, 2018 12:20 pm
I’m shocked at how low most people’s numbers are.
I think that most Bogleheads probably focus on building a rough budget so they decide how best to direct their money. Getting the top line items right makes a huge difference in being able to accumulate savings.

I don’t make a large salary, but through directed effort, I spend the following % of gross income:

Savings- 47%
Taxes- 21%
Rent + Util- 13%
Vacation/Restaurant/Shopping/Hobbies- 12%
Insurances (Med, Dental/Vision, Renters, Disability)- 4%
Groceries/Gas- 3%
50% VTI / 50% VXUS

dziuniek
Posts: 402
Joined: Mon Jul 23, 2012 2:54 pm
Location: Corrupticut

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by dziuniek » Thu Jan 18, 2018 12:56 pm

14%

Dual income.
Connecticut Suburbs.

2Birds1Stone
Posts: 434
Joined: Wed Nov 19, 2014 10:33 pm
Location: New York

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by 2Birds1Stone » Thu Jan 18, 2018 1:18 pm

Exactly 10% of gross salaries.

That includes all utilities in a small 1 bedroom apartment.

sawhorse
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Joined: Sun Mar 01, 2015 7:05 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by sawhorse » Sun Jan 28, 2018 9:35 am

MrNewEngland wrote:
Tue Jan 16, 2018 12:20 pm
I’m shocked at how low most people’s numbers are.
Same here. 10% in New York City?! The average is 65%.

https://www.nbcnewyork.com/news/local/N ... 97101.html

People here must make a lot of money. Even $1300 for a room in a shared apartment means $156k gross if you're only spending 10%.

Goinganontoday
Posts: 51
Joined: Sat Jan 14, 2017 4:58 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by Goinganontoday » Sun Jan 28, 2018 9:54 am

When we moved in, rent was 34% of gross (single income). After nearly four years with the same rent (I love our landlord), it's around 10%.

We are saving for a down payment, but refuse to move until our youngest is in kindergarten because the location of our rental makes it a dream spot until then.

atomicrc11
Posts: 162
Joined: Sat Nov 08, 2008 8:51 pm

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Post by atomicrc11 » Sun Jan 28, 2018 9:58 am

Goinganontoday wrote:
Sun Jan 28, 2018 9:54 am
When we moved in, rent was 34% of gross (single income). After nearly four years with the same rent (I love our landlord), it's around 10%.

We are saving for a down payment, but refuse to move until our youngest is in kindergarten because the location of our rental makes it a dream spot until then.
We're pretty much in the same position. 10 years ago when we moved to the Boston area we were at 35% of gross income. Now we moved into a larger unit with the same landlord, 15% of gross. It's just too good a location to move until we need to think about public schools.

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