Author Topic: Apartment-bore: What percentage of my income should go toward rent?  (Read 4029 times)

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Robo

  • Senior Member
See title.  I feel like maybe I'm shooting too high.  As I mentioned in the MONDAYS R SUX thread, I'm having a difficult time finding an apartment in my area where I'm not spending what I feel is a significant portion of my net income on rent.  Right now, the lowest priced place I'm looking at is ~36% of my net income and it's a studio, albiet a sexy one.  From my Google research, the average is ~20%.  Should I move to the boonies and deal with the commute, or suck it up and shell out for quality urban living?

I realize that I should probably get a new job, but I'm kind of lacking in applicable work experience and my resume still sort of sucks because of it, so I'm here for at least another year.
« Last Edit: October 01, 2007, 05:21:46 PM by RoboJ »
obo

abrader

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #1 on: October 01, 2007, 05:20:07 PM »
id say if yer single go for the urban living - if not single go for the country life.

Robo

  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #2 on: October 01, 2007, 05:26:59 PM »
I think I should also add that right now I'm paying about ~30% of my net income and I feel like I'm getting along pretty well.  I'm just having a hard time deciding if I SHOULD be spending that much on housing alone and if I want to go and spend EVEN MORE.
obo

abrader

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #3 on: October 01, 2007, 05:35:35 PM »
I live in the inner city - so as you likely know larger flats are hard to come by.

I pay $1,400/month rent for a 1 br apartment. Next Sunday I am moving to a 3 BR apartment for $1,600/month.

$200 bux more/month for 2 additional bedrooms (computer room and media/gaming room ;)), an extra bath and and 2 extra closets.

VERY worth it wether I was single or not....

What are you getting in return for extra money spent? nicer place or bigger place?

MrAngryFace

  • I have the most sensible car on The Bore
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #4 on: October 01, 2007, 05:38:56 PM »
900 a month with water/garbage a month here.
o_0

Robo

  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #5 on: October 01, 2007, 05:44:26 PM »
The extra money is getting me a smaller place with NO ROOMMATES in a better locale, which I think is totally worth it. 

MAF, that's about what I'm looking at.  I'm sure you make considerably more than I do though with all the other shit you afford yourself.
obo

abrader

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #6 on: October 01, 2007, 05:49:29 PM »
breaking away from roomates is critical for proper inner peace.

I recommend and co-sign your effort.

Mupepe

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #7 on: October 01, 2007, 06:06:32 PM »
My rent is about 1/4 of what i make.   

MrAngryFace

  • I have the most sensible car on The Bore
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #8 on: October 01, 2007, 06:07:25 PM »
Robo: I do ok. I also spend very little on food or clothes or anything else for that matter.
o_0

drozmight

  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #9 on: October 01, 2007, 06:24:15 PM »
My rent is about 15% of my income.







three roomates... but I'm used to living in my bedroom... so it's cool.
rub

abrader

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #10 on: October 01, 2007, 06:25:03 PM »
when it comes to becomming roomate free- i say spare no expense

MrAngryFace

  • I have the most sensible car on The Bore
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #11 on: October 01, 2007, 06:28:51 PM »
I cant handle roomates anymore arghghgh
o_0

Human Snorenado

  • Stay out of Malibu, Lebowski
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #12 on: October 01, 2007, 06:44:59 PM »
Sitting contented at 0% here.
yar

Robo

  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #13 on: October 01, 2007, 07:01:20 PM »
Where should I be looking for apartments?  I've just been poking around on Rent.com and Craigslist.  Is there somewhere better?
obo

Mondain

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #14 on: October 01, 2007, 07:01:33 PM »
375$ CDN per month only for a comfortable, clean place with a living room, a room, a bathroom, a bit of furniture, a fridge, and free heating

so low that I'm good enough to survive on scolarships alone

abrader

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #15 on: October 01, 2007, 07:23:41 PM »
Where should I be looking for apartments?  I've just been poking around on Rent.com and Craigslist.  Is there somewhere better?

Sometimes in the city - private owners can have better spots available.

Especially if they converted the apartments into condos and then sold them all.

Try the local paper listings?

ALSO call the local realty companies - they get the jobs of managing rental properties for private owners.

FlameOfCallandor

  • The Walking Dead
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #16 on: October 01, 2007, 07:25:41 PM »
Austin is pretty good. I live within a mile of downtown and I pay $475 for rent which includes cable, water and gas.

MrAngryFace

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #17 on: October 01, 2007, 08:40:04 PM »
Mondain am full of shit lol. gtfo
o_0

Mondain

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #18 on: October 01, 2007, 08:44:19 PM »
this is truth, low cost of the average canadian rent and of canadian living ftw

abrader

  • Bomb-A-Daeus
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #19 on: October 01, 2007, 08:47:23 PM »
this is truth, low cost of the average canadian rent and of canadian living ftw

If thats really what you pay - I bet every night a big papa roach wearing a fur coat, 15 lbs in gold and a top hat comes down to your bed, and massages your rectum with his roach peni.

The landlord gets his bit, and papa roach takes his cut nightly.


Mondain

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #20 on: October 01, 2007, 09:00:20 PM »
Nope, very clean, very comfortable, very well isolated against cold, I don't hear what my neighbours are doing at all either (except occasionally for the crying baby in the room upwards, lol). When I'm outside in the hall, if they're listening to music or talking loudly it's perceptible, but as soon as you enter the appartment it turns to pure silence.

And well initially the past renters said that they paid 475$ per month, and when phoning the landlord she appeared to confirm that price. However when I went to her house to sign the lease she said that the rent was for 375$ a month. No clue as to whether this was a mistake from her end or not, or if someone fumbled and gave me erroneous pricing information before, I just signed anyway.

I'm not living in a small town either, these low prices are pretty standard charges for a canadian apartment, save for maybe if you live in select towns like Vancouver.

Prices for rents in say, San Francisco, New York or Boston, well they look surreal in comparison.
« Last Edit: October 01, 2007, 09:11:21 PM by Mondain »

abrader

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #21 on: October 01, 2007, 09:02:03 PM »
do you at least wish you had a nighttime roach hookup?

max_cool

  • Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #22 on: October 02, 2007, 02:23:52 AM »
If you move downtown or wherever this urban environment is, will you need to drive a car? I'm only asking because if you avoid the cost of parking and insuring your car, that should save you quite a lot of money.

Flannel Boy

  • classic millennial sex pickle
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #23 on: October 02, 2007, 03:58:28 AM »
Low cost of living in Canada*.

As long as you aren't a Canadian living in Vancouver, Edmonton, Calgary, Toronto, Montreal, etc.

BlackMage

  • The Panty-Peeler
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #24 on: October 02, 2007, 04:04:19 AM »
4 bedroom house sharing with 2 other people. About 40% of my income. I basically live paycheck to paycheck. fuuuuuck
UNF

abrader

  • Bomb-A-Daeus
  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #25 on: October 02, 2007, 04:06:08 AM »
The best thing I can recommend...

If you are in college, and can tolerate roomates - man get together and throw in for a 4K-6K/month mansion or some such...

trust me - its well worth it, especially for college fun.

brawndolicious

  • Nylonhilist
  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #26 on: October 02, 2007, 04:11:36 AM »
^except if you wreck everything and lose your deposit.

Polari

  • Hello darkness my old friend I come to talk to you again
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #27 on: October 02, 2007, 04:40:06 AM »
The best thing I can recommend...

If you are in college, and can tolerate roomates - man get together and throw in for a 4K-6K/month mansion or some such...

trust me - its well worth it, especially for college fun.


At $1500 a week, that would mean I would have to live with somewhere in the range of 15 people though.

brawndolicious

  • Nylonhilist
  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #28 on: October 02, 2007, 05:20:47 AM »
At $1500 a week, that would mean I would have to live with somewhere in the range of 15 people though.
there's some people that do that.  they grow all their own food and walk around naked though.  I want to try that once.  I mean, you get to have like 4 refrigerators.

Polari

  • Hello darkness my old friend I come to talk to you again
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #29 on: October 02, 2007, 06:28:54 AM »
At $1500 a week, that would mean I would have to live with somewhere in the range of 15 people though.
there's some people that do that.  they grow all their own food and walk around naked though.  I want to try that once.  I mean, you get to have like 4 refrigerators.

I'm not comfortable enough with my body to walk around starkers (which is something everyone that knows me should be thankful for) and my gardening skills don't go far beyond weeding. Plus it's hard enough finding three tolerable people to share a house with, let alone fifteen of the fuckers.

Four refrigerators does sound good though.

brawndolicious

  • Nylonhilist
  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #30 on: October 02, 2007, 06:46:45 AM »
yeah I know, I shouldn't go naked either.

Rman

  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #31 on: October 02, 2007, 11:47:41 AM »
I pay around 45 percent of net income on rent :/

The NYC rental market is a disaster for those who make modest incomes.  I can't buy anything either here, either.  The New York Times had an article about "affordable" housing in the Metro area.  According to the article, $200K for a one bedroom apartment is affordable.  Most of these apartments are co-ops so you have to pay maintenance fees on top of your mortgage, ballooing your housing expenses to around $1,600 a month.  For a single person that is a bit much.  Plus you have to pay exorbitant NYS property taxes.

abrader

  • Bomb-A-Daeus
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #32 on: October 02, 2007, 11:54:42 AM »
Fukk the naked part, and fukk growing your own food....just get an estate big enough so thateveryone has a portion of the rent to pay thats doable....

Check the prices in your area and do the math....

Think about it - every Friday night will be like one of those bootie bass rap videos shot by a swimming pool....

Van Cruncheon

  • live mas or die trying
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #33 on: October 02, 2007, 12:32:47 PM »
Sitting contented at 0% here.

0% of 0% is also 0%

i kid! i kid!
duc

brawndolicious

  • Nylonhilist
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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #34 on: October 02, 2007, 02:41:47 PM »
wouldn't that technically make it 100%.

and abrader, do people rent out mansions?

abrader

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Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #35 on: October 02, 2007, 03:14:08 PM »
wouldn't that technically make it 100%.

and abrader, do people rent out mansions?

Yeah just about every rap artist rents instead of owning theirs.....

Right now is prime time for mansion renting... mates out there just itching to get a tennant to cover the lanscaping maintinance.

Robo

  • Senior Member
Re: Apartment-bore: What percentage of my income should go toward rent?
« Reply #36 on: October 02, 2007, 03:57:29 PM »
I worked out my budget and I'd be spending ~63% of my income on total expenses and I can live with that.  I just need to scope out the area a little more and make sure I'm not moving into a shithole neighborhood.
obo