How much of your income do you spend on rent? (York: affordable apartments, rental)

[seaboarded]

I'll start. 45%

[hhp3333]

I spend about 20% of my income on housing costs. You are spending far too much on rent... The general rule is no more than a 3rd of your income should go to rent.

[imageWIS]

Originally Posted by hhp3333

I spend about 20% of my income on housing costs. You are spending far too much on rent... The general rule is no more than a 3rd of your income should go to rent.

Either you are making far more than the average NYC'er OR you don't live in or around NYC.

[jackson_heights]

My family spends about 13% of pre-tax salary on housing costs. Due to social security, the tax, maximum retirement plan deduction, health insurance, etc. The 13% pre-tax is about 25% take home check.

[fmatthew5876]

I moved to the Bronx, so not very much.

[jackson_heights]

Originally Posted by imageWIS

Either you are making far more than the average NYC'er OR you don't live in or around NYC.

This is not true. If you live in a rent stabilized or rent controlled apartment, or if you bought a coop apartment at cheap price long time ago. The housing cost can be between 20%-33% if you also live in the less known neighborhoods in Queens or Bronx or upper Manhattan (Unless your definition of NYC is only the prime Manhattan). Even in prime Manhattan, if you live in NYCHA projects or affordable apartments, you don't have to pay more than 1/3 of your income.

[popartist]

My rent is $900/mo. - I spend 18% of gross and 25% of net on rent - 525 sq. ft. studio, in Brooklyn - not in the hood, on a prime waterfront street actually. It's not subsidized or rent stabilized either, just fortunate to have a landlord who is not a greedy bastard, rent has only gone up $175 over 14 years.

[rv224]

Unfortunately about 40%.

[rv224]

Originally Posted by jackson_heights

This is not true. If you live in a rent stabilized or rent controlled apartment, or if you bought a coop apartment at cheap price long time ago. The housing cost can be between 20%-33% if you also live in the less known neighborhoods in Queens or Bronx or upper Manhattan (Unless your definition of NYC is only the prime Manhattan). Even in prime Manhattan, if you live in NYCHA projects or affordable apartments, you don't have to pay more than 1/3 of your income.

True. But how many people can qualify or get rent stabilized/controlled apartments? Availability is low considering the population of the city.

[jackson_heights]

Originally Posted by rv224

True. But how many people can qualify or get rent stabilized/controlled apartments? Availability is low considering the population of the city.

Yeah, if you are just starting to look for a new apartment, it will be very difficult to find those apartments. But a lot of people have lived in NYC for many years. According to the wikipedia page, in 2011, among all rental units, 46% of them are rent controlled/stabilized, and another 13% of them are NYCHA, affordable housing, Mitchell-Lama, etc.