What % of your income goes on rent?
Poll: What % of your income goes on rent?
Total Members Polled: 167
Discussion
Really interested to hear what people are paying for rent. I'm just leaving uni, I'm on a decent salary, but the amount I'm potentially paying for rent seems crazy. I'm looking at 55% of my post-tax salary a month just on rent, without bills, for a half-decent one bed place. By half-decent, I mean it's in an okay area of town (not the best) and doesn't look like it was last painted on in 1970s. Is this normal?
I know sharing is cheaper, but I'm moving to a new city where I don't know anyone and I'd rather live alone for a few months whilst I find my feet... Although looking at the numbers I may have to find a flatmate!
I know sharing is cheaper, but I'm moving to a new city where I don't know anyone and I'd rather live alone for a few months whilst I find my feet... Although looking at the numbers I may have to find a flatmate!
Just below 20% in a house share, all bills included. I moved to Leeds for my job after Uni and decided to go for a house share mainly due to cost, however, if you get a house with a good sociable group of people you will have a much better time and enjoy your new life much more than if you were sat in your expensive flat watching GOT back to back.
You have probably thought about this, but remember that council tax could be an extra £70 to £100 per month on top of the rent.
You have probably thought about this, but remember that council tax could be an extra £70 to £100 per month on top of the rent.
I pay about 16% of my take home, for a 1 bedroom bungalow, with parking, secure storage, and its a lovely old listed building. Just outside the town centre.
I remember earning 15k a year, clearing 1k a month, and paying something like 400 a month rent. That was a killer! For a room share, I couldn't live where I am now on 15k a year, certainly
I remember earning 15k a year, clearing 1k a month, and paying something like 400 a month rent. That was a killer! For a room share, I couldn't live where I am now on 15k a year, certainly
not renting, but mine and my gf's mortgage payment is 28% of our joint income after tax. We do live in a ridiculously expensive area, but we grew up here so are used to it. Therefore don't mind paying a bit more.
It's relative though, because 28% for a couple on a low salary could mean they are only left with maybe £1500 after just rent or mortgage, then you have bills and food to pay from that. When you earn a decent amount, even though the baseline figure is 28%, you still have a big chunk left for the other stuff...
It's relative though, because 28% for a couple on a low salary could mean they are only left with maybe £1500 after just rent or mortgage, then you have bills and food to pay from that. When you earn a decent amount, even though the baseline figure is 28%, you still have a big chunk left for the other stuff...
Edited by nick s on Thursday 17th July 16:07
11% of our combined income - 2 beds, new house (well was), good schools and brilliant access to the nearest city and motorway network.
We rent from a HA, the Wife put her name on the list when she was a student 8 years ago and got the keys about 5 years ago - it sucks it's too small how we have two kids and it's not ours - we're not allowed to buy it either - but it's meant the Wife being on maternity leave/pay at the moment isn't an issue and we can save for the 12-18's months worth of disposable income we need for a mortgage.
To rent the same house privately would cost double, killing our disposable income and meaning 3 years saving, plus with all the people who thought buy-to-let was a no-lose gamble there's some terrible landlords out there - my last place had a terrible damp issue - which the LL somehow convinced the agent I caused meaning I lost my deposit and some friends of ours have had to move 3 times in 2 years because the owner wants to sell up, it's telling that when I've looked to rent something bigger, whenever I see something I like - it always has two listings - one to rent, one to sell and they won't entertain a longer lease than 6 months.
We rent from a HA, the Wife put her name on the list when she was a student 8 years ago and got the keys about 5 years ago - it sucks it's too small how we have two kids and it's not ours - we're not allowed to buy it either - but it's meant the Wife being on maternity leave/pay at the moment isn't an issue and we can save for the 12-18's months worth of disposable income we need for a mortgage.
To rent the same house privately would cost double, killing our disposable income and meaning 3 years saving, plus with all the people who thought buy-to-let was a no-lose gamble there's some terrible landlords out there - my last place had a terrible damp issue - which the LL somehow convinced the agent I caused meaning I lost my deposit and some friends of ours have had to move 3 times in 2 years because the owner wants to sell up, it's telling that when I've looked to rent something bigger, whenever I see something I like - it always has two listings - one to rent, one to sell and they won't entertain a longer lease than 6 months.
When I rented a 1 bed flat in Battersea it was about 40% I then purchased a 2 bed flat in Battersea back in 2009 and my mortgage repayment dropped to 30% with a decent deposit.
Beg, borrow or steal to get that deposit as renting is a mugs game.
My property has since gone up in value by £350k in 5 years. Mental..
Beg, borrow or steal to get that deposit as renting is a mugs game.
My property has since gone up in value by £350k in 5 years. Mental..
15% of take home for what is essentially a large one bedroom flat with garden and parking.
Hopefully very soon to be moving into my own 4 bedroom detached bungalow with garage, garden etc and the mortgage will be 30% of take home.
Renting in a touristy place is daft as nothing comes cheap.
Hopefully very soon to be moving into my own 4 bedroom detached bungalow with garage, garden etc and the mortgage will be 30% of take home.
Renting in a touristy place is daft as nothing comes cheap.
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