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Is your rent too damn high?

Excerpt from article by By AnnaMaria Andriotis, WSJ online.
Many personal finance experts say you should spend no more than 35% of your take-home gross income on rent (not including renter’s insurance) whether you live in a high- or low-cost area. Of course, this amount can mean the difference between living in a studio on the outskirts of an expensive city or living large in a condo overlooking the beach in a low-cost area.

Link to full article: http://blogs.wsj.com/developments/2010/10/19/is-your-rent-too-damn-high/


Asked by tasches at 6:41 PM on Oct. 19, 2010 in Politics & Current Events

Level 48 (298,202 Credits)
This question is closed.
Answers (29)
  • He sure makes politics interesting...

    Answer by parrishsky at 6:46 PM on Oct. 19, 2010

  • Nope - mortgage here too. We have 15 years left on a 30 yr fixed rate.

    Answer by jesse123456 at 7:23 PM on Oct. 19, 2010

  • No, we're locked into a 15 year mortgage.

    Answer by LoriKeet at 6:51 PM on Oct. 19, 2010

  • We're locked into a 12 years of mortgage at $300 a month for five acres. I'm definitely ok with that.

    Answer by Farmlady09 at 8:33 PM on Oct. 19, 2010

  • Nope. We only pay $450

    Answer by butterflyblue19 at 6:45 PM on Oct. 19, 2010

  • Butterflyblue19, where do you live?

    Answer by navymom4 at 6:46 PM on Oct. 19, 2010

  • East Central Wisconsin

    Answer by butterflyblue19 at 6:47 PM on Oct. 19, 2010

  • we pay 968 for a 3 bed 1 bath over 1000 ft apartment and we live in Utah. Better then Washington we paid 850 for a 2 bed 1 bath barley 800 ft

    Answer by mommy_of_two388 at 6:50 PM on Oct. 19, 2010

  • It costs us 1400 for a 2 bedroom 1 bath apartment in Orange County, CA and this is considered cheap! PSH!

    Answer by youngmm at 6:55 PM on Oct. 19, 2010

  • youngmm i feel you!!! We are paying 1850 for a 1000sq foot apartment!!! I CANT WAIT TO MOVE!!!! and believe it or not this was the cheapest we could find!!!

    Answer by anikahaynes1 at 7:04 PM on Oct. 19, 2010