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how much of your paycheck go to rent

i know the general rule of thumb is 30% of take-home monthly income. Moved to New York recently but throwing that much money personally feels like an opportunity cost. Mine is around 10~13%. TC: 240k

Poll
79 Participants
Select only one answer
Qualcomm Avli Apr 30

Depends on the City? /CoL 🤷🏾‍♂️

Meta TC/GTFO!! Apr 30

3% household pre-tax income. That’s why we are renting

Qualcomm FAjY68 May 1

3% of your income ? With current market conditions? Are you living in Africa with US salary?

Meta TC/GTFO!! May 1

Rent is 3k per month in HCOL city

VMware vThing Apr 30

Can someone create a similar poll for how much of the paycheck goes for the mortgage payment? That would be fun to watch.

Google not_evil May 1

My mortgage is 30% right now.

New
HighTC May 1

0%

Apple OSkn80 May 2

I bought. so it’s closer to 25%

Microsoft dpLk61 May 2

Renting is not throwing money away and it gives you more flexibility. If you think like this then paying mortgage interest or property taxes are also throwing money. Try to pay the minimum amount that would make you happy. If you do not mind having a longer commute then go to a suburb and pay less. If it is important to be in a city center then you may get rid of your car and associated costs.