to ask if its usual to pay 47% of net income for a private rental?

[lemonade30]

I read this statistic today in my MILs daily mirror and I'm quite willing to believe that its nothing more than propaganda.
It seems like an extortionate percentage when you consider that all bills/groceries/clothing/school meals and trips/holidays/birthdays and Christmas must be paid for by the remaining 53%.

We rent privately and our rental payments are 19.5% of our net income which is manageable.
We'd be living on bread and water if we had to fork out almost half of our income to a landlord. I'm not even employing the slightest element of hyperbole when I say that.

This statistic is supposedly true for those in the 20-39 age bracket, dubbed generation rent by the daily mirror

so over to you.
Are the mirror talking out of their arse or this truly the state of the private rental sector/salary in 2015?

This thread is making me glad I got out of London years ago! I'm in Perth, Australia now where rents are high, and we pay 20% of our salary to rent a beautiful three bedroomed bungalow with a huge garden and pool, five minutes walk from the beach. It would cost us loads more to buy it though, its a renters market here at the minute.

In London it is not unusual.

I'm in the suburbs of Birmingham, 34% of my income. But I live by myself in a 2 bed flat (word to the wise, don't ever move from the north to the south - I had far too much stuff due to property being so cheap and being able to afford a bigger place previously) so if I had a partner it would be a lower proportion.

London Zone 2

Previously, 26% on a 1 bed rental.

Now 41% mortgage on a small house.

6% from our gross income - 2 bed house but we are in a rural area.

I think the figure certainly fits London. I have friends who are paying upwards of £1000 a month just on rent (and not on a big house either). It's crazy.

In london 100 % of husband salary went on rent with my salary paying for everything else so be 50%. So glad we left now.

Was true for us in London, in our 20s, in zone 2 (but could walk to work! In London! That is worth a lot)

Rent is 16% of our combined income, but we have deliberately staying in a too small property as the rent is cheap and we're saving for a mortgage. It would be around 30% if we rented a house we actually like.

DS has just rented. 2 bed flat in London with a friend. His share is around 50% of his income in his first job.

Achieve - £5 min commute a day x2 =£10. That's £50 a week. £200 a month commute

Plus childcare x2 hours extra, x2 children at antisocial hours = £40 per day (£10 hr each). £40x 5=£200 a week. £800 a month extra.

So rent would have to be £1000 a month cheaper a month to make it worth it. Plus children would then have to be woken an hour earlier daily and in bed hour later.

Totally not worth it. Btw we love our small flat. It's in great location and condition, so we can use all outside facilities like royal parks and museums within minutes walks

My net income from work is £1,100 I pay £750 to rent a 3-bed semi. Thank God for tax credits is what I say.
The £500 a month I get from them is the only way I can survive!
There are no cheaper rents in the area I live and all the 2-beds I have looked at (about £650/month) have second bedrooms that are proper box rooms and only suitable for 1 bed.
I am not entitled to a council house and do not claim HB as my landlord doesn't accept it.

Forgot to add I'm in the South West

Quick mental arithmetic says I pay about forty per cent of my income on rent. Single parent, one child, two bed house in cheap part of the country. So for any single person on minimum wage I'd expect them to be paying around forty per cent minimum.

Country Australia- 15% of income after tax

50% for us in London. It's not propaganda.

its disingenuous/naive to suppose that lots I'd 20-39 year olds are childless

I just told you that 1 in 5 are (in fact, slightly more, since the stat is for women by 45).

Do you get something out of being rude about the facts? Because that is how you come across. It's not naive or disingenuous (what on earth would I get out of being sly about this?!). It's just a statistical fact about this age group, which matters in the context about rental income.

Sounds about right for me and my circle of friends - me and OH (both mid 20s) pay just over £900pm for one bed flat in oxford, which is about 48% of our monthly money. Then bills takes it up to almost 50%. Other friends we have in oxford and Cambridge are in much the same position. It's totally outrageous and if I could change one thing about the UK I think it would be controlling the rental markets (which is why Corbyn appeals so much right now!).

wire.novaramedia.com/2015/07/the-rise-in-renting-and-how-it-hurts-us-all/

This article's really interesting - I find it amazing that we pay double EU rents (as proportion of income). God it'd be incredible if it changed - if feel so rich!!

Mine is about 25%, but it took a while to find and it's priced to reflect the lack of central heating etc and the size (two beds, but small).

I'm on an above average salary, in the south west of England.

In the next town, same type of place would be more like 40% or more.

Figure is accurate for us.

I pay 32% of my salary for a miniscule studio 10 minutes walk from my work in Central London. I'm just into Zone 2 in North London.

I get a garden and a ridiculously central location. The flat is small and a bit doesn't get a lot of light or have proper heating, but I'm not there much, it gives me an excuse to be out a lot!

I don't think I'm really at the top end lemonade I moved house a couple of years ago because I couldn't afford to stay in the area I was previously in, about 2 miles away.

Which was a not particularly posh suburb in North Manchester, nothing special, if I was renting there now a 3 bed semi would be 45 - 66% of my income. Where I live now is an old council estate although a proportion of it is privately owned now, it used to have a pretty awful reputation but is actually quite quiet where I live.