How Much Should You Pay in Rent By Salary?

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1 month 3 weeks ago #644364 by Fernando Ramos
How Much Should You Pay in Rent By Salary?
$30K salary: $750
$40K salary: $1,000
$50K salary: $1,250
$60K salary: $1,500
$70K salary: $1,750
$80K salary: $2,000
$90K salary: $2,250
$100K salary: $2,500
$110K salary: $2,750
$120K salary: $3,000
How accurate is this?
1 month 3 weeks ago #644364 by Fernando Ramos
Rachael Yoshida-Sigmund
1 month 3 weeks ago #644365 by Rachael Yoshida-Sigmund
Replied by Rachael Yoshida-Sigmund on topic Re: How Much Should You Pay in Rent By Salary?
Most people live out of their means.... thats why there is so much debt ....but good luck finding rent for 750. And even though I may make it.. I still wouldn't pay 3k in rent.
1 month 3 weeks ago #644365 by Rachael Yoshida-Sigmund
David Monroe Ccim
1 month 3 weeks ago #644366 by David Monroe Ccim
Replied by David Monroe Ccim on topic Re: How Much Should You Pay in Rent By Salary?
That data is complete BS. I show how to calculate affordability, which is what the FHA uses to determine affordability for mortgages, in this video:
1 month 3 weeks ago #644366 by David Monroe Ccim
Debbie Haskell
1 month 3 weeks ago #644367 by Debbie Haskell
Replied by Debbie Haskell on topic Re: How Much Should You Pay in Rent By Salary?
Not making the salary for the 2200 I pay a month but what choice do I have in New Jersey?
1 month 3 weeks ago #644367 by Debbie Haskell
Megan Gerhardt
1 month 3 weeks ago #644368 by Megan Gerhardt
Replied by Megan Gerhardt on topic Re: How Much Should You Pay in Rent By Salary?
I would say highly inaccurate 😂😂 i would never pay as much as this suggests I can afford lol. My mortgage is about $1300/month but my income is higher than $50k
1 month 3 weeks ago #644368 by Megan Gerhardt
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1 month 3 weeks ago #644369 by Chris Finetto
Rent is very market specific. There’s plenty of factors that add into rent when compared to income. Old rule of thumb three to one.
1 month 3 weeks ago #644369 by Chris Finetto
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1 month 3 weeks ago #644370 by Jeff McDonnold
That looks like a “could” list. “Should” would be the least amount possible until you fear for your safety 😂
1 month 3 weeks ago #644370 by Jeff McDonnold
Samatha Ast
1 month 3 weeks ago #644371 by Samatha Ast
Replied by Samatha Ast on topic Re: How Much Should You Pay in Rent By Salary?
Lots of factors for this but my bracket is just a bit higher then what I pay. They are also probably talking about gross, not net and that made a huge difference from a single female with no kids to a married one, my take home was significantly higher after I changed my status, I wonder what this would look like for car notes... so many people tell me they can't pay their rent bc they had to pay their car...
1 month 3 weeks ago #644371 by Samatha Ast
Donna Corbin
1 month 3 weeks ago #644372 by Donna Corbin
Replied by Donna Corbin on topic Re: How Much Should You Pay in Rent By Salary?
Not accurate at all for Michigan.
1 month 3 weeks ago #644372 by Donna Corbin