Americans spend an entire week’s worth of pay on rent every month—and in some cities, a full two weeks of income is just going to housing

11 comments

1. Housing needs to be taken back by the people, we need regulations tied to minimum wage in the state you are renting, let alone bar all private equity and foreign interest purchases real estate, it’s beyond criminal at this point.

2. Half of my income.

3. 1/2 of my monthly income goes total Rent – the other half pays off credit card debt

   America the beautiful

4. ” entire week’s pay on rent”. I WISH

5. And it’s going to get worse

6. Bay area checking in

7. Yeah its easily half in alot of places. More then that when one of four couples move out of the studio you rent together….

8. Your a slave of your landlord.

9. So this is more descriptive of the poorer quintile of America. What about the other side? About 2/3rds of US households are homeowners. Out of those, 40% don’t even have a mortgage anymore as the home is paid off. Out of the remaining 60%, the majority have a mortgage less than 5%. They are, on average, paying 9% of gross income on housing. Those with a more recent mortgage are paying just north of 20% of their gross income on housing. So, still below the 30% threshold recommend by financial planners. The 30 year fixed mortgage is the greatest inflation hedge ever.

   This is what it means to live through the K shaped recovery since the pandemic. It just keeps getting better for the haves and worse for the have nots.

10. 34% of my income, according to my budgeting spreadsheet

11. I think spending 25% of your monthly net income on rent is reasonable, no?

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