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What percentage of your monthly salary do you spend on rent?

Fuzzy_Dunlop [Edit] [Delete] 36 replies 18:59, 7 September '09

I have found an amazing lovely house in the Brighton Laines, seems perfect (haven't been to see it yet though). The rent would cost me £550 per month (this includes all bills), which is half of my monthly salary. Does this seem a bit excessive?

My other fixed outgoings each month would be phone (£16) and Lovefilm subscription (£16), maybe gym membership as well if I can find a good deal.

So in short - does spending half of a £18k salary on rent sound normal or excessive to you?

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    We did this already.

    Stealthy | 7 Sep '09, 19:02 | X
  • that seems pretty normal

    if that is all bills its fine

    ThingsThatFly | 7 Sep '09, 19:04 | X
  • 50% isn't unreasonable, especially if it includes all bills.

    Obviously it's better to buy rather than rent, but an expenditure of 50% of your net pay is usually the maximum that is recommended. It really depends on what your living costs are and how much you're looking to save.

    At the moment I'm renting and spending about 20% of my net pay on rent, which allows me to save a fair bit, but this is in London. I'd be wary of living and working in Brighton - it seems to be a town where you pay London prices (because so many people commute into London), but don't receive a comparable wage.

    marckee | 7 Sep '09, 19:07 | X
  • Exactly 25% but that's before bills

    Scout | 7 Sep '09, 19:08 | X
  • ha perfect thread to tell you all my great news

    i am spending 350 on my rent at the moment - city centre apartment (so i dont spend on travel)

    Im moving into my best mates detached house in November and im going to be charged 160! one fucking sixty! :D :D I see new sparkly purchases and nights out :D

    MissBass | 7 Sep '09, 19:14 | X
  • 0%

    But, the going rate for my one bed ground floor flat would be £500.

    I don't pay bills either.

    On the downside though, I work two jobs and my main job is a zero hours contract so whilst I typically earn anywhere from £1,300 to £1,800 net per month, in theory I could earn £0, though it hasn't happened yet.

    Alex-in-Ciderland | 7 Sep '09, 19:21 | X
    • Do you sell porn online>?

      LordLuciusBanter @Alex-in-Ciderland | 8 Sep '09, 11:32 | X
  • About a third...

    I pay just under 500 a month including bills and take home around the 1500 post tax etc. I wouldnt really like to have less than a 1000 a month to play around with and cover my other costs.

    idle65 | 7 Sep '09, 19:34 | X
  • Around a third.

    But that's on a mortgage rather than rent. Loads of annoying costs come with home ownership though, like insurance and having to pay to have cisterns fixed and stuff.

    TheSoundofBastards | 7 Sep '09, 19:51 | X
    • I pay 430 a month on rent inclusive of everything and it's 5 mins from the tube walk.

      That's pretty much half my wage. But seriously, if having a nice, safe comfortable place means to have to pay a bit more I'd go for it. Having lived in a van for two months you appreciate having a nice home:)

      marilyninthesky @TheSoundofBastards | 7 Sep '09, 20:04 | X
  • 9%

    blaaast | 7 Sep '09, 21:01 | X
  • My rent is £650 a month

    and I can't work out the percentage because my income is a student bursary of £6000 a year, but I get the feeling the percentages are off, and I'm going to get evicted soon.

    _antilovesong | 8 Sep '09, 01:10 | X
    • That's a lot

      so you have £150 a month to live off after rent? Ouch.

      MirriLondon @_antilovesong | 8 Sep '09, 01:24 | X
      • No.

        I have minus figures to live off per month after rent, by my calculations.

        _antilovesong @MirriLondon | 8 Sep '09, 11:17 | X
  • My rent is £340 a month...utilities included

    TheDailyBumbler | 8 Sep '09, 01:32 | X
    • Annual income (monthly wage + overtime) is about £5000

      + Student Loan...which works out as £3000 a year

      TheDailyBumbler @TheDailyBumbler | 8 Sep '09, 01:34 | X
      • Because my brother is a semi-proffessional rugby player...

        ...he get's his rent paid for him.

        TheDailyBumbler @TheDailyBumbler | 8 Sep '09, 01:35 | X
  • I get

    1550 net (after the newer 'tax type' £75pm student loan has come out)

    750 to 800 a month into a joint account (gf & I) that pays for half of all essential bills, C tax, utilities, mortgage (800 in itself), insurance, food etc.

    So 48 to 52 % of my net income goes on all essentials.
    26% of my net income goes on my half of our mortgage (on a modest 2 bed flat that we've got £0 equity in, at best, after 3 years of repayments due to the crash).

    Then £135pm goes on (old 'loan type') student loan
    £175pm on personal loan repayments
    £90pm railcard to get to work
    £20pm mobile contract
    £13pm cineworld subscription
    £7pm fabricfirst cd subscription (I keep the fabriclive ones & sell the fabric ones on amazon marketplace)

    So that's £440, which = 28% of net income.

    So 80% of my net income is gone before we even get to buying any CDs, gig tickets, booze, clothes or addressing the small matter of the 5k+ combo of credit card and overdfaft that's sitting in the wings. :-$

    Thanks for listening, tune in next week...

    TheWza | 8 Sep '09, 10:57 | X
  • About 20%

    that's before bills though.

    roastthemonaspit | 8 Sep '09, 11:19 | X
  • 22% after all bills

    i feel like JohnM

    brusma | 8 Sep '09, 11:22 | X
    • I knew I'd get a mention

      JohnM @brusma | 8 Sep '09, 13:17 | X
  • About 44%

    not including bills.

    colinzealuk | 8 Sep '09, 11:30 | X
  • 17% including bills

    Moving in with the girlfriend FTW

    LordLuciusBanter | 8 Sep '09, 11:37 | X
  • Now? 45% (I used a calculator) on rent

    before bills.

    I am looking for a better paid job.

    finchleydisco | 8 Sep '09, 11:39 | X
  • My rent is £260 a month

    my income is... err.. about £200 on JSA. Go me.

    homesick_alien | 8 Sep '09, 12:09 | X
  • 2.4%

    I still live with my parents and only have to pay the Sky bill (£30 per month).
    I am saving over £500 month.
    the rest goes on various things. petrol, gigs, music, dvds, car insurance, holidays, festivals, etc

    I am lucky.

    cliffybyro | 8 Sep '09, 12:19 | X
  • Whatever percentage 1/15th is.

    deadonthestairs | 8 Sep '09, 13:22 | X
  • 23%

    including bills and council tax

    whacksiddy | 8 Sep '09, 13:25 | X
  • about 25% (mortgage)

    colon_closed_bracket | 8 Sep '09, 13:27 | X
  • 1 million percent

    yes

    thewarn | 8 Sep '09, 13:28 | X
    • do you live in

      zimbabwe?

      foppyish @thewarn | 8 Sep '09, 13:53 | X
  • 30% (with bills)

    citizenmeh | 8 Sep '09, 13:32 | X
  • about a third

    i'd go live in the laine. 50% isn't too bad - it's usually my upper limit - but city centre living is total win. some of my friends used to live in this lovely flat above a shop nr the komedia, i was really jealous. just think how nice it'll be to walk home in ten minutes after a night out!

    guntrip | 8 Sep '09, 13:39 | X
  • HMMM. 25%

    with bills though it's nearer 35%.

    justanothersheeldz | 8 Sep '09, 13:48 | X
  • NONE

    icouldwinarabbit | 8 Sep '09, 13:49 | X
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