Are YOU able to keep your housing expenses at or below 28% of your gross pay?

[Anonymous]

Now, yes. It’s 13%. But long ago it was around 33%.

[Anonymous]

PITI is a just over 28%. Mortgage alone is 22%. It feels tight I guess because our kids do a lot of activities and we're saving a decent amount for retirement. Not much travel beyond driving places and camping or staying with family. A few hotels here and there. It is a pretty good life though.

[Anonymous]

When we bought our house, piti was just over $3k/ month, so around $37-38K/year. DH and I combined earned $140K per year total salary, so I guess it was just about 28%.

But that was ages ago, our incomes have tripled and the house is paid off. If you can stay in one place, the math works in your favor over time. It's the constant upgrading that gets people, I think.

[Anonymous]

HH monthly gross is $25,800. Mortgage is $2500. So about 10%. We also bought less than what we qualified for and at that time, with lower incomes, we were still at about 15%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ughh boomers

and ... I'm a pp and not Boomer either. Gen X.

genx is basically boomer lite but boomer never the less

[Anonymous]

HHI is a little over $1m/yr; mortgage is $3800/mo. So about 8% but obviously percentage has decreased over time as HHI has quadrupled and we haven’t upgraded housing. Therein the key to building net worth

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ughh boomers

and ... I'm a pp and not Boomer either. Gen X.

genx is basically boomer lite but boomer never the less

I’m a different PP and I’m a millennial

[Anonymous]

Yeah—we live in a cheaper house that’s almost paid off (only pay 2000 a month and have less than ten years left). Bought this house when our HHI was probably a third of what it is now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes, we’re at about 10%.

Same. And it's not from skyrocketing salaries - we intentionally bought under the amount we were approved for so that we would have flexibility to earn less or spend in other areas.

Same, about 10.5% for us.

[Anonymous]

Anonymous wrote:Yes because I have been in my unrenovated old home for over ten years and I just live with a 1978 kitchen.

Me too. 8 years cooking dinners in my original 1964 oven baby!

[Anonymous]

All in monthly housing expense including PITI, HOA, maintenance is like $2600, gross is about $25k. But we live in a townhouse.

[Anonymous]

Anonymous wrote:

Anonymous wrote:23% (about $6375 monthly) on $27666 gross (about $330k HHI). Wish it were lower!

Do you pay income tax?

You might want to check your math.

gross pay (the title of the this thread) is pretax. Check your reading skillz

[Anonymous]

I’m about 10% now, but when l first got the mortgage it was about 20%.

I’ve never been comfortable with the 30% suggestion. Just seems house poor to me.

[Anonymous]

I feel many posting here were traumatized about the real estate crash and definitely bought for less than what they qualified for. I know we did.

[Anonymous]

PITI+utilities is currently about 35% of my gross pay, which would be a bit painful if spouse didn't contribute. what I actually contribute is about 23% of my gross pay. we also live in a townhouse, but it's a $2mil townhouse, which we will probably never leave thanks to the 2.5% mortgage.