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Old 03-30-2008, 06:42 PM
 
23 posts, read 155,323 times
Reputation: 25

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I have lived in the Tyson's Corner area for going on 5 years now. My husband and I rent a 2-bedroom "townhouse" at Tyson's Glenn. We are getting divorced, so imminently I will be paying 100% of my rent with just my income, instead of dual earners sharing rent.

I'm well aware of the average rents in NOVA in general and Arlington in particular. The average rent for a 1-bedroom in Arlington at this time is around $1700, give or take $100. This based on what I've been looking at as well as the 2007 Rent and Vacancy Survey.

I am a GS-13-03 in the federal government, so I don't make bad money, but this rent represents a HUGE percentage of my after-tax income. I don't have any debt or any children.

I find it difficult to believe that most people in Arlington and the surrounding area are paying only 30% of their net income for housing. So what's the word--what percentage of income are people REALLY paying to live here?
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Old 03-30-2008, 06:47 PM
 
2,728 posts, read 7,365,381 times
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Can you find yourself a roomate?
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Old 03-30-2008, 06:52 PM
 
84 posts, read 336,073 times
Reputation: 30
I pay about 25% of my after tax income in rent.
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Old 03-30-2008, 06:57 PM
 
23 posts, read 155,323 times
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Quote:
Originally Posted by VRE332 View Post
Can you find yourself a roomate?
I am 41 years old and getting divorced after 11 years of marriage. I COULD get a roommate, but at this stage of my life I'm not going to.
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Old 03-30-2008, 07:02 PM
 
23 posts, read 155,323 times
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Quote:
Originally Posted by OrdinarySoul View Post
I pay about 25% of my after tax income in rent.
May I ask if you're single and living alone? As a couple we paid 15% of our net income for rent.
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Old 03-30-2008, 07:21 PM
 
23 posts, read 155,323 times
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DOH! Hold the phone! I just realized that I was looking at my net pay per pay period. There are 2 pay periods each month! Good word. That puts me in the 33% range.

I'm still curious about what % people are paying, especially if you are one income living alone.

Thanks!
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Old 03-30-2008, 07:48 PM
 
2,675 posts, read 4,538,258 times
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Hi, Hester, I'm sorry about your divorce and the stresses you're likely to be going through right now. As for your question about % of income, remember that a lot of Arlington residents are in the situation that you were in -- two high incomes (with a spouse, partner or roommate (or more than one roommate)) and perhaps no kids. Others who live alone may have bought a house when Arlington was lower in price, so they aren't as stressed financially as they would be if paying ever increasing rent. I have several friends who say they couldn't afford to buy their own home today. I currently pay closer to 50% of take home toward PITI, but that is because I am choosing to pre-pay the mortgage (rather than lose it in the stock market right now!). During months with high other expenses, I cut back.
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Old 03-31-2008, 06:40 AM
 
Location: Metro Washington DC
13,107 posts, read 19,948,714 times
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Up to last year, we were paying around 45% of our income for rent. A raise got it down to maybe 35% now.
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Old 03-31-2008, 08:26 AM
 
28 posts, read 87,777 times
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I was paying about 45% of my income for rent until about a year ago, and am now at around 36-39%.
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Old 03-31-2008, 03:33 PM
 
1,623 posts, read 4,335,483 times
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$1700 for the avg. 1BR in Arlington seems really high. I'm sure that figure includes a bunch of luxury apartments in the Clarendon corridor. I'd be curious to see what the median rent is for 1BR is Arlington.

I see a lot of places under $1200 for a 1BR, particularly in So. Arlington or places without a lot of amenities.

The last time I rented I was a GS-11 and spent about 21% of my gross income on rent (I remember the realtors saying that you shouldn't spend more than 25-30% of your gross income on housing). I'm guessing that was probably 26% income net of taxes. It was a 750 sq ft 1BR condo in Falls Church. It wasn't the rent that was killing me, it was the student loans.
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