How much rent do you pay? Currently looking for a place to live and they say the rent should not exceed more then 30% of your weekly income, but i actually can not find a house for rent that is under this amount , so just curious to see what percentage of ur income you are paying in rent.
12 Replies
30% is the “ideal” but I’m currently on single parent pension, so unfortunately my rent is 70% of what I get. It’s a struggle, but it won’t be long as I managed to get a casual job that will boost my income, and then Approx percentage of rent will be 50% of my entire wage.
We pay $450/week which is 55% of hubbys income.
Not sure if it’s the same recommendation however our mortgage is $425 a week which is 25% of our combined wages (I work part time).
$700 a fortnight ($350 a week but since I signed my lease, rents in my area have gone up about to around $450 -$500 a week). I'm left with $300 a fortnight. So that's 70% of my income!
In this day and age, 30% income towards rent is unattainable unless you have a really decent income or you subject yourself to living in an ex crack shack in the middle of nowhere 😂
We pay roughly 22% of our income. We have a 4 bedroom newish kit home
We are currently paying 22% but boy does it feel like more then that.
Could you consider looking a little further out? While rents are considerably high where I live if we were to move up to 45min to 1 hrs drive North rent is cheaper.
I totally understand everyone has their reasons for living in the area they do but at the same time I don't understand why people pay 70% of their income towards rent.... isn't that considered living above their means?
To put it simply... no. My income is $500 a week on pension. $320 is the cheapest rental near my town. If I move further out, Centrelink will cut me off as I’ve willingly moved to an area with less job opportunity. I’m moving to an apartment soon, with a shared room, but even then my weekly rent is $200.
I was working full time but the company went bust and over 20 fulltime employees lost their job. I’m hopeful I’ll find work soon, but definetly not living above my means.... unless I rent a cardboard box.
I pay 70% of my income towards rent. From an outsiders perspective it probably does seem as though I live above my means but to put it in black and white terms - it's either that or homelessness. I'm in the cheapest rental I could find that also happens to be falling down around my ears.
If I was bound by this 30% rule, I'd have to find a 3 bedroom place (as I have 3 children) for $150 a week, that's just never gonna happen.
My mortgage is 25% of our take home income
Our mortgage is almost 10% of our combined income. Both work fulltime and we live regionally where it's more affordable to buy.
29% - $930 pf on $3200pf take home pay (combined)
I pay around 28% of my wage on rent.