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?

Last year we paid 40% for a bog standard 3 bed in a niace village in the Midlands.
We moved North and with DH payrise we now pay 20% for a slightly smaller 3 bed. I start work soon and it should take us down to about 16%.

This should hopefully mean we can save for a deposit within the next year as time is marching on (I'm mid 40's).

I earn 1200 a month and my rent is 500 but split with DP so £250 each. I am crap at percentages but that seems like a lot less than 47%

Redglitter I can't answer your question regarding rent increases, because since we started renting we've never had a rent increase due to being chucked out each time within the year

I'm in the South East, my rent is £750 per month. Salary £1100. The rent is below market rate because if when I moved in. It was £650 4 years ago. I have to move out soon as the house is being sold and to rent another 2 bed it will now cost me £900 per month. The prices have shot up in the last 18m. I honestly have no idea how I will manage to move, especially as all agencies want their renters to earn 3x the rent. And have a guarantor with an income of 50k a year. Neither of which I have. Basically I am well and truly fucked as of now.

DS is (hopefully) just about to move into a flat in West London, which he will share with a friend - half of the rent will be just about 47% of his net salary.

29%. We are south Coast and it's expensive. Our monthly rent is under the market value for houses in our area so it would be more than 29% if we had to move

Not surprised by those figures at all. At various times over the last 5 years, thinking back, our housing costs have been anywhere between 15% of our income (short-term/temporary), to 33% (the majority of the time) right up to around 45% for a brief period too.

It's definitely been around 33% for the most part though, and we've been fairly lucky (opportunity-wise) at managing to do that!

Ours is about 48%. We are in the South East.

We have a household income of about £2000 and our rent is £925. So about 47%. I suspect landlady will put it up to £1000 next year as she is v greedy.

AryaOfWinterfell
At your percentage of rent to income, you are entitled to a majority of your rent to be paid by housing benefit.

do not claim HB as my landlord doesn't accept it

Your landlord does not have to know. You take your tenancy agreement to your council and they pay housing benefit direct into your bank account. It is nothing to do with your landlord. In fact they are not allowed to refuse HB. In practice they can refuse when first letting to a new tenant as they can ask for proof of income. Or they can refuse to renew your tenancy but at renwal stage or earlier they are unable to find out. Please claim the HB you are entitled to. It would be foolish not to.

100% of my earnings go on my side of the rent. I don't know how we survive from month to month really. On paper its impossible, but we do.

I pay 70% roughly, isn't that the norm? I'm shocked how little some people here pay. Admittedly next year when my income doubles, it will come down to 35%

The stupidly high rents and landlords refusing to accept housing benefits are why we have to move into a temporary flat with the council, because our current contract ended.