What % of your income goes in rent ?

[Howtostart]

There is a thread asking the same question about mortgage .. I was shocked how low it is compared with rent . It's been a thing for a long time that rent is often more than a mortgage but will be interested so see what the difference is ..

I'll kick off. Lost my house in my divorce. Ex went home (overseas) I had to rent.

Take home £2200
Rent £1000.

Our income varies a little but rent is around 17-19%. Private rent, we're really lucky that's it's very reasonably priced for our area.

Income (single income) £3000.
Rent £825.

27.5%.

The question is why do you think that is 🤔🙄

40% at the moment but I'm waiting for another rent increase amount 🙁

Because the OP on this thread didn’t give a percentage and people have followed that probably.

Good point ...

@Chowtime despite your snide and goady remark trying to imply people who rent are not able to work out the %, the OP didn't put it!

@Howtostart DH and I have £3000 joint income per month. (Net pay.) Rent £390 a month social housing. (The percentage of our joint income for our rent, is 13%.) Yes we are extremely fortunate.

We are in social housing - in a 2 bed semi detached house. Moved in 12 years ago, when we downsized from a big 4 bed semi when the kids left home. It's perfect. The garden is a large end plot overlooking woodlands, set back off the road with a 60ft long front garden, and elevated 6 feet off the road so no-one can see in the windows from the road. Has a car port and a garage. We will NEVER move. Lifelong tenancy thankfully!

There is a HUGE difference in those lucky enough to have been allocated social housing ...

All it tells me is that if you rent you are well and truly fucked if you don't get a social housing place.. who does and who doesn't is purely down to availability ..

My tiny three bed .. really tiny two singles and a double just about would be no more than half that I currently pay .. but who gets them seems to be a lottery ..

Sorry folks .. my fault .. my rent vs income is 45.45% to be precise.. gosh how did I do that ? Must be because I used to be a homeowner and I have some residual brain cells 🙄

Wages and tax credits I take home £2300
Rent (private) is £1300.
It takes an incredible amount of budgeting to keep us going. Am glad that I am finally buying a house

50%

49%. Private rent.

53% as a single person in private rented. Other bills also very high here. Moved in as a couple, now on my own.

I have to move somewhere cheaper once this tenancy period is over.

33%

26% of joint income. Private rent.

Mortgage or renting, I’ve always paid at least 50%. It’s normal to be honest, even in Europe in controlled rent places it is 40%.

The only people ‘winning’ are those with a mortgage where their parents gave them a big deposit or they bought it years ago and on fixed rates.

If you get a mortgage now on a £250,000 house it will be £1,500 a month.

The comparison is naturally skewed though, as those with higher incomes are more likely to be able to buy, so for example my mortgage is also around £1000 the same as your rent and it's also a 3 bed, but our take home is around 5-5.5k so whilst the same figure it's 20% for us Vs 44% for you.

Take home £6300
Rent £500
7.9%

But next month zero as our new house will be ready and we won't have to rent this one.

£4000 take home, social housing 4 bed new build £600 )including estate fee) so 15%.

Take home £2200
rent social housing £480
So roughly 22%

Joint take home is around £3,300 and rent is £850 so around 26%? I wouldn't get too caught up over mortgage vs rent as we have been looking recently as first time buyers and with the current interest rates our mortgage for the exact same house is around £1,100 per month!

sure, but after 20 years you have a house to show for it, and after 20 years as tenants your landlord does.

£900 - £1,000wages monthly.
£550 rent
Universal credit £225-£310

This is true. Rent is our most vital bill and the one I most resent for exactly that reason. We have been trying to save for a deposit on a house for some time but whenever we get anywhere near close, something else needs paying for and our Disposable income is small as it is.

50% of our income is rent!