What % of your NET do you spend on housing? (pay, deduction, average)

[Chicago60614]

Gross: 17%
Net: 27%

Housing costs are $3,300. Income is $12,300 net and $19,000 per month gross.

[freemkt]

Originally Posted by FloridaBeachBum

1%

??? ??? Since when do beach bums have housing costs?

[earslikeacat]

50 (*/*)

[newnewyorkers]

16% of gross / 27% of net; this includes mortgage, taxes and insurance. I live in a county where taxes would depress even the more optimistic person. But hey, schools are great!

[arrieros81]

My share of rent (not utilities or anything additional) is 12.2% of net. i would say rent is approximately 15% of net for both of us.

It's the easiest way to be able to save.

[American Expat]

My house note is about 17% of my take home. Actually I wouldn't want it to go any higher. More important to me is that the value of my house (if paid off), would be about 22% of my wealth.

[GeoffD]

I don't have a mortgage. The ownership costs of my ski condo are pretty high between condo fees and property taxes. My primary residence is half that because it doesn't have condo fees and the tax rate is low. Not counting home improvement costs, my all-in housing cost for two homes including insurance and utilities but not cable is about 8% of my typical gross income. Staying ahead of the curve with home improvement doubles that.

[numberfive]

Has the OP been back to talk about how this is useful information? Not trying to be snarky here, I genuinely want to know. There's a huge variability in locale (home prices as a percentage of income, property taxes, HOA amenities, etc), age (typically older people have more equity and higher pay, so their loans are smaller), etc.

There's enough variability here to make it very difficult to see how we're doing or if we bought too much home. 20% for one person might be very frugal, and 20% for another is too much house.

[flyingsaucermom]

Originally Posted by American Expat

My house note is about 17% of my take home. Actually I wouldn't want it to go any higher. More important to me is that the value of my house (if paid off), would be about 22% of my wealth.

Most of my NW is in my home: roughly 75% right now. I'm not sure how I feel about it. On one hand, I live in Seattle and our property values are one of the strongest in the country... if we had two more units we could technically be financially independent.... on the other hand, I feel that we need to be more diversified and ought to be focusing on the market, I mean outside of tax-efficient accounts. We will continue to max tax-efficient accounts of course.

[mizzourah2006]

This is kind of hard to measure because we are putting a lot in 401ks and HSAs. If you exclude bonuses (which we get 4 of a year and adds another ~22-25% to our gross) we are at 21% net for the entire escrow (mortgage+insurance+property taxes).