PhD student renting in a big city in Europe. About 35%.
this post was submitted on 17 Dec 2021
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Asklemmy
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Same...
I wish us the best of luck in the future ๐
Thanks! You too!
You forgot about squatting or communal housing (which does not necessarily involve renting or owning).
I live in a half ruined building that I am currently renovating, so I guess you could say I own a home.
Do you own it on papers though? Good luck on the renovations :)
Yeah, it's not squatting. I am getting too old for that :)
Hehe. How many people are involved in that project? if you'd like to make a post about it i'm curious :)
Some other people were involved from time to time, but due to the remote location and the pandemic it is mostly just me. I am not making much progress to be honest, so it is not exactly a topic I am happy to present at this point in time :-/
oh, sorry to rub the wound then! good luck!
I own. I'm absurdly frugal and my personal religion forbids usury. When I married we basically put our incomes together for seven years and came out of it with enough money to buy a nice home outright.
I cannot imagine buying in this market. We purchased just before it all blew up, and even then we considered it an asset bubble.
The whole thing is rigged against anyone and everyone sitting below the top 5%, especially in the southern hemisphere and especially in the USA.
We spend and put aside about 10% of our net income toward the home. Property taxes, utilities, and maintenance.
About 15% of my after tax income I guess.
I'm in a regional centre (not a big city) though which makes a rent cheaper.
Edit: turns out, in Australian cities average rent cost is about a third of the average income.
About 25% after taxes in Northeast Ohio, USA.
The most typical salary in my city (London) is 33k GBP per year. I earn more than that.
My rent is 1150 GBP per month for a 1 bedroom flat in Zone 4, which is considered "the outer suburbs" perhaps, in a nice area. It represents about 40% of my monthly salary. I got offered to buy it for 350k a few years ago, which I did not have the means at all - and still don't.
15%-ish in south-central Wisconsin, own the home. Just got our tax bill, taxes actually went down this year, which is quite the surprise for our county and school district.
Own my own house (when it's paid off in 2 years) but 11.4% of my income goes to paying it off. Obviously when I bought it that percentage was a lot higher, but as the years pass, the payment basically stays fixed while your income has been going up.
Nitpicking, but this is not obvious across all industries. In many fields, people's wages barely go up with time.
If a job's income does not go up over 20 years, that is hardly very sustainable...
It usually goes up, though not necessarily faster than inflation. Outside of IT and public service, many older people are still paid minimum wage. (i don't have stats on that sorry)
True I was in public service (IT side) and although is not the best, the benefits add up, as does the annual increases over the years (problem is many can't stick it out that long, especially in public service)...
Public service IT (except for secret services / military) sounds good indeed :)
Can't say I don't cover all the bases ;-)
what field of work are you in?
I've retired from work so not in any field of work any more... but when working was in the police and then in IT
I live in Toronto.
I recently rented for about 1/3 of my post-tax income.
I now own and condo fees, mortgage and property tax are about 1/2 of my post-tax income but currently my partner who lives with me is helping which puts my contribution at about 1/3 again.
Almost 15%, 3 room apartment in eastern Europe.
33%, and I have really cheap rent and a decent paying job for the area.
My rent is about 23% of my net income. A nice condo Casablanca.
Before the pandemic hit i used to live in Rome, I payed half my salary for a studio in a very nice part of town. Now I live in Istanbul and cannot afford a house with my current earnings. I make more than minimum wage.
10.5%
I live in a 1 BR in the not so affluent part of town
A little more than 1/3 of my net income. I live in the suburbs of a town with ~100k residents in Italy. 55mq, two rooms (bedroom + kitchen/livingroom) and bathroom. I'm planning to move out with some friends because living alone is too expensive for my pockets and I'm not saving as much as I would like to, considering I have some other recurring monthly expenses that eat up a considerable amount of my paycheck (not as much as the rent of course. It's by far the most expensive monthly expense)
Half my income goes to my rent.
It's ~300โฌ for rent, with a ~600โฌ income. Plus ~150โฌ for utilities, leaving me at an uncomfortable ~150โฌ to live for a month, which is barely enough to afford food.
But hey, according to American liberals I should rejoice because I live in "socialist Europe". Lol
My wife and I bought a 10 acre (~4 hectare) piece of land in very rural, very Northeastern US for 30k USD. We paid for half with about 50% of a year's combined income, and half with money from when my wife's parents sold the family farm. Land came with a derelict house, but it turned out to be in better shape than initially thought. Place is fully off-grid: no water supply, electricity, or plumbing. We are living in a yurt while we, my wife's dad who is a carpenter, and some (paid) timber framer friends make the house safe to live in. Currently we pay about 5% of our combined yearly income in property tax, but that will likely go up when the house is done.