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Mom Confessions Mom Confessions

How much rent can I afford?

Anonymous
Posted by Anonymous
  • 12 Replies
Moving house and want to know how much in monthly rent would be the limit? Two kids,two adults. Monthly income is $1900
Posted by Anonymous on Apr. 18, 2013 at 2:17 AM
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Replies (1-10):
outtamymynd
by Ruby Member on Apr. 18, 2013 at 2:19 AM
1 mom liked this
O.o
It depends on what you have going out, I guess. You have to go through your shit and find that out.
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Supervane
by Ruby Member on Apr. 18, 2013 at 2:19 AM
I forget what the rule is, but I think that when buying its suppose to be 30 to 40% of income. I forget but I know its something along those lines.
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Northcuttswifey
by Silver Member on Apr. 18, 2013 at 2:19 AM
Honestly I would try and stay around no more than 600-800 hundred. You have to count bills and food gas extras.
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Anonymous
by Anonymous 2 on Apr. 18, 2013 at 2:19 AM

I wouldn't go over a third of your income which can be hard being just over 600 dollars a month. Depends on your areas. 

3xangel
by *Angelicious* on Apr. 18, 2013 at 2:20 AM
Depends on the usual cost of your other bills.
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armywifey26
by Krissy on Apr. 18, 2013 at 2:20 AM

They say rent shouldn't be more than 1 weeks worth of income. Or something like that. 

TranquilMind
by Ruby Member on Apr. 18, 2013 at 2:20 AM

 Well, assuming you have no debt, ratio of income= 3 times rent is acceptable to me, as a landlord. If the debt is higher, the ratio goes down. 

So, about $650 per month, assuming you don't have a lot of debt.  You have to live, pay all utilities, pay for medical care, pay for kids (extremely expensive right there), pay for food, clothes, etc. 

BonnieRay
by Bronze Member on Apr. 18, 2013 at 2:24 AM
The general rule of thumb is 30% of your income, around $634. Sometimes that isn't possible. To make sure that you can cover your bills you should try not to go over 50% or $950. So your limit should be $950 if you absolutely must go that high. Closer to $600-$700 would be ideal.
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Fields456
by Ruby Member on Apr. 18, 2013 at 2:25 AM

I can't really say without know the rest of your average monthly bills not including rent. But I would say no more than $600 ( without knowing  the rest )      When I was going through my divorce I had a montlhy income of $2000 it was just my dd and myself and I had a house payment of $906. Plus hoi of $112, electricity and water which varied , food, and a cell bill of $75 ( I think ) and no car payment and it was tough some months depending on the electric bill.       

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