ST Alpha - "Is the 30% pre or post tax? (I ask since this is a post-tax reading) -- nm" (Reading a Post)

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In response to "you’re ideally only supposed to spend 30% of monthly income on *rent* -- (link)" by hollywood big shot

Is the 30% pre or post tax? (I ask since this is a post-tax reading) -- nm

Posted by ty97 May 15 '24, 12:43

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Responses:

My old 1 bedroom apartment is about $1,300. If it's 30% post tax I wouldn't be able to afford it on my own with that math. - sycor May 15, 13:00
I grew up hearing it as when buying a house the sell price should cost no more than 3x annual gross income. -- nm* - Max May 15, 12:51 6
- you should be able to buy a house for 100x monthly rent (old rule of thumb....ouch where did that sledgehammer come from...) -- nm - zeitgeist May 15, 13:42
- *approves you for twice that much* -- (edited) - Mortgage companies May 15, 13:11
- Around here, for renting, they want your annual gross income to be at least 40x the monthly rent price -- nm* - ty97 May 15, 13:01
- *look at local listings* LOLOLOLOLOLLOL - ty97 May 15, 13:00
- whoops -- nm - oblique May 15, 12:58 1
  - Right?! -- nm - sycor May 15, 12:58

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