Author Topic: How much do you pay in rent/mortgage?  (Read 31518 times)

Minimali

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Re: How much do you pay in rent/mortgage?
« Reply #50 on: February 28, 2015, 08:15:12 AM »
£350/m in not quite city centre Edinburgh, UK. This seems to be below average but I did strike a deal with my landlady/flatmate who is moving out in a couple of weeks. (New flatmate moving in. I love houseshares.)

Drew664

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Re: How much do you pay in rent/mortgage?
« Reply #51 on: February 28, 2015, 08:44:41 AM »
$0, mortgage paid off, $300 per month in taxes/insurance, close to 2,000 sq ft. upper and lower level walk-out, 4 bedroom, 3 bath, Midwest, $200K value.

Very similar to my housing expense and value.

4 bed/3 bath 2500+sf walk out on upper and lower floors.

Just under $1k for taxes, insurance, and mortgage.


Midwest is definitely affordable if you don't mind the weather. Location is SD.

OSUBearCub

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Re: How much do you pay in rent/mortgage?
« Reply #52 on: February 28, 2015, 10:12:05 AM »
Rent, $615 per month on a 500sf studio apartment in cenral/suburban Orlando.

Tabaxus

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Re: How much do you pay in rent/mortgage?
« Reply #53 on: February 28, 2015, 10:28:50 AM »
$1400/mo for a fairly large (1000 sq ft) 1-bedroom in downtown Chicago.

Anything other than Cali will feel cheap compared to NYC.

CCCA

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Re: How much do you pay in rent/mortgage?
« Reply #54 on: February 28, 2015, 10:37:34 AM »
Our living costs are higher than the OP.
We are a family of four living in a 4BR 3BA house in SF Bay Area.  We bought in 2010 and pay ~$3200/month in PITI.  I think it works out to about $2600/month when you account for equity gain (paying off principal) and mortgage tax benefits.


 

NinetyFour

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Re: How much do you pay in rent/mortgage?
« Reply #55 on: February 28, 2015, 11:25:04 AM »
$1300 per month for principal, interest, insurance, and property tax--in southwest Colorado
« Last Edit: February 28, 2015, 01:27:11 PM by NinetyFour »

Livewell

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Re: How much do you pay in rent/mortgage?
« Reply #56 on: February 28, 2015, 11:33:45 AM »
San Jose CA - we paid off our mortgage.  Crazy HCOL in the Bay Area, our 3/2/1500 1960 ranch goes for an amazing $950K. 

Upside of Bay Area - high incomes very possible.  Great weather means lower heating/cooling/insurance costs (outside of earthquake).  Medium prop tax rates (1.25%) plus prop13 means predicably low increases in the future.  Plus you always have option to scale down to LCOL area if fire plans go south.  Key is getting in...

aetherie

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Re: How much do you pay in rent/mortgage?
« Reply #57 on: February 28, 2015, 01:17:38 PM »
Renting a nice big 1br apartment in Maryland, just outside DC: $1150 (utilities included).

thebrowze

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Re: How much do you pay in rent/mortgage?
« Reply #58 on: February 28, 2015, 06:15:38 PM »
$2540 in PITI for a 1900sqft 4br 2ba single family house with a three car garage and a yard in wine country.  I get a face punch for my clown commute (50 miles one way, but mostly on ferry or carpool). If we lived in San Francisco (where I work) my wife would have the commute instead and we would pay twice that amount for a small two bedroom apartment.

Abe

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Re: How much do you pay in rent/mortgage?
« Reply #59 on: February 28, 2015, 07:33:28 PM »
$2k for mortgage+taxes on 3 bedroom condo in nice neighborhood near downtown Chicago. Neighbor sold their identical unit for $450k.

iluvzbeach

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Re: How much do you pay in rent/mortgage?
« Reply #60 on: February 28, 2015, 07:51:02 PM »
I live in Austin. You would have a very difficult, if not impossible, time finding a studio or one bedroom near downtown for $1,000 or less. More likely in the $1,500 - $2,000 range, unless you want to live in the 'burbs.

Our mortgage amount is irrelevant to your question as we've lived in this house since 1998 and it's almost paid off. Property tax is high. Could be 10K per year for a condo downtown.


Kaydedid

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Re: How much do you pay in rent/mortgage?
« Reply #61 on: February 28, 2015, 08:44:58 PM »
Currently pay ~450/mo in a small city in central Wisconsin (225 mortgage, 200 tax, 25 insurance).  House is 3 bed/1 bath, 1300 square feet, worth about 85k (original mortgage of 45k).  Definitely lots of mustachians around - average incomes are lower and the climate will make you tough if nothing else.

Begonia

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Re: How much do you pay in rent/mortgage?
« Reply #62 on: February 28, 2015, 09:19:53 PM »
I live in SF and pay $1712/month for a rather large studio in a great, non-fancy neighborhood within walking distance of Golden Gate Park. My rent is relatively low; I moved in in September 2013. I think the average studio in SF rents for about $2400 these days, what with the tech boom. I'm planning to build a tiny house within the next five years.

dunhamjr

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Re: How much do you pay in rent/mortgage?
« Reply #63 on: February 28, 2015, 09:29:00 PM »
Mortgage on my 3100sqft primary house near Seattle WA is around 1500.

Mortgage on my 2000 sqft rental near Spokane WA is around 1100.

mendoman

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Re: How much do you pay in rent/mortgage?
« Reply #64 on: February 28, 2015, 10:48:30 PM »
Our house is paid for since 2012.  With insurance and taxes it is around $300 a month.  It was a great feeling to be free of a mortgage at 41 years old.

zurich78

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Re: How much do you pay in rent/mortgage?
« Reply #65 on: March 01, 2015, 06:40:20 PM »
I live in South Orange County, CA.  I own a small 4 bedroom house on a 7,500 sq ft lot.  I pay $1,900/month mortgage and then $500/mo property taxes and $60/month insurance.

aschmidt2930

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Re: How much do you pay in rent/mortgage?
« Reply #66 on: March 01, 2015, 07:07:51 PM »
I live in Austin. You would have a very difficult, if not impossible, time finding a studio or one bedroom near downtown for $1,000 or less. More likely in the $1,500 - $2,000 range, unless you want to live in the 'burbs.

Our mortgage amount is irrelevant to your question as we've lived in this house since 1998 and it's almost paid off. Property tax is high. Could be 10K per year for a condo downtown.

I live in Dallas, and it's similar, but a little lower than what you listed above.  Part of it is the property tax - income tax trade off.  The landlord pays higher property taxes than in most states, and it gets passed on to the renter.  On the flip side, the lack of income tax more than balances it out IMO.

And on to the OPs question, I pay $840 for 1 BR in downtown Dallas, but that will be going up to $910 very soon.  One of the better deals for downtown actually.  You can get steals in the suburbs, but it dooms you to a brutal commute if you work downtown.

mm1970

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Re: How much do you pay in rent/mortgage?
« Reply #67 on: March 01, 2015, 09:37:26 PM »
Santa Barbara
~$3000/ month (includes prop taxes and insurance), 2 BR, 1 BA, no garage, 1100 sf.  But lots of sunshine.

arcangel911

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Re: How much do you pay in rent/mortgage?
« Reply #68 on: March 01, 2015, 09:50:40 PM »
$420- covers rent, utilities and trash in Fort Walton Beach. Also the room is furnished.

Chuck

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Re: How much do you pay in rent/mortgage?
« Reply #69 on: March 01, 2015, 10:45:04 PM »
1777 Mortgage+Escrow for a 3/BR Townhouse in Northern Virginia.

dude

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Re: How much do you pay in rent/mortgage?
« Reply #70 on: March 02, 2015, 08:43:25 AM »
Boston area here. I'm about 4 miles outside the city, which I did on purpose because I've found an enormous room in a large two-family for $675/mo. + utilities. You could almost fit my entire 2 bed/1 bath from Boston-proper in the living room of this place, for which we were paying ~$2100/mo. It's been awhile since I looked in earnest, but a cursory search suggests you could cut your current rent number in half and live like a prince in the Davis/Porter/Inman area if that appealed to you.

In the last 15-20 years, Boston-area real estate has skyrocketed in value, due in some measure to the consistently strong performance of many of the public school systems. Buying may or may not be an option you're considering, but there are still values to be found because the market is imperfect.

Happy hunting!

Yep, I'm in that Davis area of "Boston" (Somerville) -- mortgage+taxes is $2088/month, condo fee is $190/mo., for a gut-renovated 1100-sq. ft, 2BR, 2BA, in a 2-condo property, w/2 off-street parking spots (huge in this area, trust me). Current value $525k-$575k.

Saw your response, took another browse around CL. WOW, is my calibration off RE: Davis! Is it the Tufts-centric demand? Certainly a nice area I think I'd enjoy living in, price notwithstanding. Thanks for the reality-check, gonna go reevaluate my own moving plans...

haha!  Yeah, it's been a red-hot place for a while now.  I think owing to several factors, first and foremost being we have the best damn Mayor in the U.S.  Seriously, this guy is a visionary, and has made improving Somerville for its residents, old and new, his focus.  With new T stations opening up (Assembly Square recently, and the Green Line extension out to Ball Square), people are clamoring for the real estate here.  So close to the financial district and downtown via public transportation, tons of new world-class restaurants and bars opening every year, very low property taxes, businesses relocating here, etc., etc., it's a great place to be.

Though we bought during the market's decline from the peak (in 2006 or so), values stayed level during the downturn, and have since blown past the previous peak. One could argue that it's a bubble, but it just doesn't appear that way to me -- Boston is simply kicking ass economically with high-tech, health care, academia, and finance.

dude

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Re: How much do you pay in rent/mortgage?
« Reply #71 on: March 02, 2015, 08:45:58 AM »
Does that come with a parking spot?    That's worth a lot in LB
Yep I have a spot. It's in Belmont Shore, so plenty of nights there literally would be nothing available otherwise. Plus I'm a 15 minute bike ride from work.

Aw man, spent many a night down there on Second Street in my (misguided) youth, and playing volleyball on the beach down there.  Is Yankee Doodle's still there?  How about the Acapulco Inn?  AI was, and probably still is, my favorite dive bar of all time!!  God, I miss California.

lisahi

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Re: How much do you pay in rent/mortgage?
« Reply #72 on: March 02, 2015, 09:10:12 AM »
If you're looking to move to Texas, Austin is one of the most expensive cities to live. Dallas is cheaper as far as housing goes (not as far as other expenses--like food; Austin is generally cheaper there), but it's huge. If you love huge, then that's great. San Antonio is cheaper than Dallas. In fact, it's one of the cheapest cities to live in, period (although I've heard housing prices are going up somewhat in the last couple of years). If you have the option to live anywhere and are looking for a big city (but not too big city) feel, I'd opt for San Antonio over Austin or Dallas. (Bonus: Austin is only an hour and a half away) You can find a < $1000/month house or apartment pretty easily.

RunningWithScissors

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Re: How much do you pay in rent/mortgage?
« Reply #73 on: March 02, 2015, 09:40:33 AM »
We pay a ridiculous amount for housing - too much house in a high COL area and a big, bubbly housing market.

$1700/mo mortgage (accelerated payments to get it paid off by our FIRE date)
$400/mo property tax (ouch!)

We'd dump the house immediately but most of these expenses are written off as business expenses and so are tolerable for now.  Just. 

thurston howell iv

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Re: How much do you pay in rent/mortgage?
« Reply #74 on: March 02, 2015, 09:54:16 AM »
1750sq ft 3/2 with car garage and .25 (?) acre fenced yard. $891 PITI
midwest

Tabaxus

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Re: How much do you pay in rent/mortgage?
« Reply #75 on: March 02, 2015, 03:41:24 PM »
We pay a ridiculous amount for housing - too much house in a high COL area and a big, bubbly housing market.

$1700/mo mortgage (accelerated payments to get it paid off by our FIRE date)
$400/mo property tax (ouch!)

We'd dump the house immediately but most of these expenses are written off as business expenses and so are tolerable for now.  Just.

?

Pooperman

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Re: How much do you pay in rent/mortgage?
« Reply #76 on: March 02, 2015, 03:57:56 PM »
961/month 40 minutes by train from Manhattan (NJ). Includes water and 2 parking spaces (though not assigned so we can't rent it :(). 1 br 650sq ft. Walkable to the train, library, rec center, city hall, and downtown.

rocksinmyhead

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Re: How much do you pay in rent/mortgage?
« Reply #77 on: March 02, 2015, 04:23:46 PM »
I pay $775/month (rent) plus utilities for a 2 bed/1 bath house with a yard in Tulsa, OK. It's fucking awesome.

sunshine

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Re: How much do you pay in rent/mortgage?
« Reply #78 on: March 02, 2015, 07:02:19 PM »
We haven't had a mortgage for a few years but I still budget $450 a month for taxes and insurance.

orcas50

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Re: How much do you pay in rent/mortgage?
« Reply #79 on: March 02, 2015, 07:58:24 PM »
$1460 mortgage (plus about $600 per month more for property taxes and insurance, paid bi-annually) for a 2200 sq ft house in a suburb of Seattle. It is a split-level house (interior updated) built in the 1960s, purchased for $689K 10 years ago, Zillow estimates the value at just over $800K now. We owe $250K.
« Last Edit: March 02, 2015, 11:41:02 PM by orcas50 »

cbgg

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Re: How much do you pay in rent/mortgage?
« Reply #80 on: March 02, 2015, 10:08:49 PM »
I don't live somewhere normal, but I just wanted to take the chance to complain that I pay $1800/month rent to live in the FAR suburbs of San Francisco.  Boo!!!!

Plus utilities.  Boo some more.

Greenroller

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Re: How much do you pay in rent/mortgage?
« Reply #81 on: March 02, 2015, 10:41:13 PM »
I live just outside of Denver (15 min from denver central), and rent here is no longer affordable. A decent 1 bedroom will run you $1500/mo at least. That doesn't include any utilities. I own my home, but to give you some perspective, I purchased my 1970's 1600 sq foot home 2.5 years ago for $300k, my neighbor sold her house ast week ( exact same model as mine to the T) for 500k. That's the market out here right now and I only see it going up for a while.

clarkfan1979

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Re: How much do you pay in rent/mortgage?
« Reply #82 on: March 03, 2015, 06:34:37 AM »
We have a 3 bed/2 bath/2 car garage, 1750 sq. ft. single family with a .15 acre year in Fort Myers, FL. Current total mortgage is $653 including taxes and insurance. It will drop to $610/month in 2 years when mortgage insurance gets dropped. I love bragging about this one. It feels like I'm cheating. 

clarkfan1979

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Re: How much do you pay in rent/mortgage?
« Reply #83 on: March 03, 2015, 08:05:02 AM »
I live just outside of Denver (15 min from denver central), and rent here is no longer affordable. A decent 1 bedroom will run you $1500/mo at least. That doesn't include any utilities. I own my home, but to give you some perspective, I purchased my 1970's 1600 sq foot home 2.5 years ago for $300k, my neighbor sold her house ast week ( exact same model as mine to the T) for 500k. That's the market out here right now and I only see it going up for a while.

One of my friends lives in a brand new building a couple blocks from Coors field and his 1-bedroom is 1350/month. He had to put his deposit down before the building was finished. His apartment is way beyond decent. I would argue that a decent 1 bedroom in Denver is around 1200 and high end apartments are 1300-1500. I'm sure that you could find 1 bedroom apartments that rent for 3000/month, but that is way beyond normal living and the misses the target audience of this website. I have another set of friends that were living in a 2 bedroom apartment in Denver for $800/month, but this was 2 years ago. I'm guessing that apartment now rents for $1000. It wasn't close to downtown, but did have a Denver address. They really liked the apartment, but they did complain of the type of people that lived in the building. A lower price point attracts a different type of crowd. They ended up moving.   

damize

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Re: How much do you pay in rent/mortgage?
« Reply #84 on: March 03, 2015, 08:31:34 AM »
$850 rent, which is on the high side here.  I had thought that I'd need AC more than I do...and having a pool outside my front door is a sweet bonus.  Landlord pays water and HOA fees, so that's nice.

I'm a poster child for renting versus owning. I like moving too much, hate yardwork, and really don't feel the urge to own land.

zephyr911

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Re: How much do you pay in rent/mortgage?
« Reply #85 on: March 03, 2015, 08:53:49 AM »
I'm in Madison, AL (a suburb of Huntsville). We paid $123k in October, 10% down on a 5/1 ARM at 3.125%. PITI+PMI was $632. Our latest escrow account review lowered that to $588, and in a few months when we hit 20% equity it'll go to $555.

Home specs: 1100SF, 3BR, 2BA, all new hardwood, interior paint, and exterior siding, 2-car garage, large fenced yard, 10min to groceries, library, restaurants, bars, and county public services, and 1 mile to a huge park/rec center. It's high-end for our street - if we weren't working 5 jobs between us, we could have snagged a mild rehab for $75k and knocked that payment under $400.

You can pay a lot more for a house here, but you really don't need to, and thanks to MMM, I realized our $180k luxury townhome was better off as a rental. Once it's occupied, savings will exceed $5k/mo and FIRE will approach much faster.

Numbers Man

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Re: How much do you pay in rent/mortgage?
« Reply #86 on: March 03, 2015, 08:55:55 AM »
I'm paying $3,250 per month in the Grand Canyon state. About $2,000 of that goes to principal. I will pay cash for my next place (3 years to retirement) so I'll just be paying taxes and insurance which I estimate to be about $500 a month.

Jersey Brett

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Re: How much do you pay in rent/mortgage?
« Reply #87 on: March 03, 2015, 09:32:10 AM »
A lot. I live outside Washington DC, I used to live in the city in a rent controlled apt but got tired of the city.
I now pay $1150 for a 1BR in Takoma Park. Its expensive but I have no other significant expenses. I paid cash for my car, am a good cook, dont go out much and no cable, gym memberships blah blah.

MrsSmitty

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Re: How much do you pay in rent/mortgage?
« Reply #88 on: March 03, 2015, 01:51:21 PM »
$1,250 mortgage payment for our house in Richmond, VA. 4 bed, 1.5 bath, 1400 sq. ft. Bought for $235K a few years ago. We're in the city limits but not downtown.  We can walk/bike to a bunch of cool stuff but we're definitely in a residential neighborhood. We love it.

DLVT

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Re: How much do you pay in rent/mortgage?
« Reply #89 on: March 03, 2015, 02:26:58 PM »
A not very mustachian $2700 mortgage for a SFH in Alexandria VA.  4 bedroom, 1900 SF well built, previous one owner home from the late 60s.
It's way more house than we currently need, but both the wife and I are tired of moving and we will be glad to have the extra space when kids are around.
I'm also of the belief that single family homes in urban areas will be a hot commodity in the not too distant future.  They aren't being built anymore - nothing but TH and condos go up around here.  Supply will be limited, and I think demand will still be there.
High COL area, but we are still able to save 50% of our after tax pay (not including mortgage principal)

RunningWithScissors

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Re: How much do you pay in rent/mortgage?
« Reply #90 on: March 03, 2015, 04:46:56 PM »
Tabaxus -our housing expenses are 'written off'  because I own the house, and my husband's business rents the 1100 space in the basement which represents about 30% of the finished area in the house.  So, I get a chunk of rent (which is dutifully declared as income) and can deduct the 30% of mortgage interest, taxes, and utilities.

dragoncar

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Re: How much do you pay in rent/mortgage?
« Reply #91 on: March 03, 2015, 05:32:05 PM »
Our living costs are higher than the OP.
We are a family of four living in a 4BR 3BA house in SF Bay Area.  We bought in 2010 and pay ~$3200/month in PITI.  I think it works out to about $2600/month when you account for equity gain (paying off principal) and mortgage tax benefits.

Glad I'm not the only one.  Mine is about 2k after the generous tax deductions and principle.  Which is about what we were paying for a nice 1br apartment rental.  Only way I can stomach it is to factor the tax breaks

dude

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Re: How much do you pay in rent/mortgage?
« Reply #92 on: March 04, 2015, 05:29:19 AM »
Does that come with a parking spot?    That's worth a lot in LB
Yep I have a spot. It's in Belmont Shore, so plenty of nights there literally would be nothing available otherwise. Plus I'm a 15 minute bike ride from work.

Aw man, spent many a night down there on Second Street in my (misguided) youth, and playing volleyball on the beach down there.  Is Yankee Doodle's still there?  How about the Acapulco Inn?  AI was, and probably still is, my favorite dive bar of all time!!  God, I miss California.
Well shake off that snow in Boston (I use to live in Melrose across from The Middlesex Fells) and come on back! I still play VB in Belmont Shores all the time. Use to love there too and it's a great place. Sadly Yankee Doodles is closed (alas the days of pool and beer after beach volleyball right next door are over) but looks like they are doing some major renovations so maybe it will come back bigger and better than before.  I lived in Belmont Heights (actually on Belmont Ave) so parking wasn't a problem and it was still an easy walk or bike ride to the beach or 2nd Ave. Rent prices have increased also but it's still not too bad compared to some other places in coastal SoCal.

Oh don't I wish!  Used to play down there with a bunch of Long Beach State students and other beach bum types who lived in the area.  Some of the best days of my life!!  I visited about 10 years ago, and Acapulco Inn was still on 2nd Street, and a lot of other places as well.  RIP, Yankee Doodles!  It's been a LONG time since I lived there (1987-1990).  I kick myself in the ass pretty regularly for ever leaving.  :-)

dcheesi

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Re: How much do you pay in rent/mortgage?
« Reply #93 on: March 04, 2015, 05:39:37 AM »
Roanoke VA, 750 sqft + 750 basement (mostly finished). Refi'ed my mortgage a while back, currently paying $309 ± ~$150 escrow (tax & insurance) = $460/mo.

Original payment was a little over $600, which was about the same as rent in my old apartment at the time.

train_writer

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Re: How much do you pay in rent/mortgage?
« Reply #94 on: March 04, 2015, 07:14:04 AM »
€ 680 including interest and principal minus tax deduction = € 520
€   68 property and sewage tax

Brickstone
3 bedroom + attic
- small garden - historic city quarter -
Netherlands
« Last Edit: November 28, 2015, 12:44:24 PM by train_writer »

otter

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Re: How much do you pay in rent/mortgage?
« Reply #95 on: March 04, 2015, 09:11:59 AM »
$1175 for a large 2 bedroom / 1 bathroom apartment and the whole garage in a three-flat on the northwest side of Chicago.

MissPeach

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Re: How much do you pay in rent/mortgage?
« Reply #96 on: March 05, 2015, 03:49:36 PM »
I'm feeling jealous of the OP. A 1 bedroom in my area costs around $2,000. Renting a room is about $1,200. Where I live isn't perceived as a HCOL area for some reason compared to the other cities in my state so salaries are not reflecting the housing here while the other 2 large cities here do reflect that.

Lanthiriel

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Re: How much do you pay in rent/mortgage?
« Reply #97 on: March 05, 2015, 04:53:41 PM »
We're in the process of buying a 3 bed, 1.5 bath SFH on a quarter acre in an amazing neighborhood in Anchorage, AK and our PITI+PMI (I know, I know) comes to $1715/mo. Alaska only lags behind New York, Connecticut, and Hawaii for cost of living. But you can't beat the job opportunities if you do anything related to engineering, so we're here for the foreseeable future.

IndyPendent

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Re: How much do you pay in rent/mortgage?
« Reply #98 on: March 05, 2015, 04:55:17 PM »
~$800 for all-in on a 3 bed, 2.5 bath in a decent neighborhood in Indianapolis. 15 year mortgage.

Dibbels81

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Re: How much do you pay in rent/mortgage?
« Reply #99 on: March 06, 2015, 07:43:53 AM »
Las Vegas, NV.  $550 monthly mortgage for 2 bed, 2 1/2 bath 1350 sq home.  HOA $85.  Keno profit to date $68.  Total number of weather related social media posts mocking cold weather people ~200 to date.
« Last Edit: March 06, 2015, 07:45:38 AM by Dibbels81 »