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If you have roommates/housemates, only count your portion of the rent.
If you own, do:
(Mortgage payment + Property Tax + Housing Insurance)/(Take Home Income)
If you don't have a mortgage, then that portion is 0 but please indicate it in your response.
My ratio: 22%
im not quite sure what this question is supposed to show as a conclusion? especially since all our tax situations and expenses on a owned home are all over the place especially since its based on how much you put down..
while the question seems simple enough the reality is my home cost me way way more than just property taxes,insurance and mortgage as an owner so the answers arent going to mean much..
we rent our primary and own a 2nd home and while my expenses end with the rent the home expenses are far more open ended each month with maintaince ,repairs ,renovations, garbage removal, snow removal and gardening a constant on going cost of housing when you own. . i dont see how this question can mean to much for comparison purposes.
Last edited by mathjak107; 11-10-2011 at 03:07 AM..
18%. I could pay it off sooner, but I try to operate with a 25% personal debt rate, at least now given the unbelievable interest rates you can get. Anyone who owns a home outright and is not buying as an investment in this economy is foolish, in my opinion.
14.65% on housing, I rent a 1 bedroom 1 bath apartment
Planning to buy a 3bd townhome by next year so that is going to rise a bit to 22-25%, a lot of people here in greater Los Angeles area pay close to 50%
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