Started By
Message
locked post

Is 30% of gross income still a good benchmark for what to pay in rent?

Posted on 4/16/25 at 8:04 pm
Posted by Slippy
Across the rivah
Member since Aug 2005
7401 posts
Posted on 4/16/25 at 8:04 pm
My kid is just starting out with his first “real” job in another part of south Louisiana. Needs an apartment but I want him to be able to eat and go out for the occasional beer. I always heard 30% and assume it’s still a good rule, even though everything is way more expensive than it was even 5 years ago.
Posted by BigJman
Member since May 2021
505 posts
Posted on 4/16/25 at 8:05 pm to
quote:

I want him to be able to eat


I wish my dad loved me this much
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36126 posts
Posted on 4/16/25 at 8:06 pm to
quote:

Is 30% of gross income still a good benchmark for what to pay in rent?


WAY too rich for my blood. I’m at around 15% and wouldn’t want to go more than 20-22% if I had to
Posted by Odysseus32
Member since Dec 2009
9683 posts
Posted on 4/16/25 at 8:12 pm to
Depends.

$100k salary, he'd be spending $2500 on rent. If he values a nice place to stay I think that's fine.

$50k salary, spending $1250 is going to put you in a shite hole without roommates.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36126 posts
Posted on 4/16/25 at 8:14 pm to
quote:

$100k salary, he'd be spending $2500 on rent.


quote:

Is 30% of gross income


You may want to remath that baw
Posted by GeauxHouston
Midland, Texas
Member since Nov 2013
4977 posts
Posted on 4/16/25 at 8:15 pm to
quote:

spending $1250 is going to put you in a shite hole without roommates.

Entirely dependent on the city
Posted by Odysseus32
Member since Dec 2009
9683 posts
Posted on 4/16/25 at 8:16 pm to
100000 x .3 = 30000

30000 / 12 = 2500
Posted by faraway
Member since Nov 2022
3530 posts
Posted on 4/16/25 at 8:16 pm to
I spend 33.33333% on rent. sucks what that comes out to in take home amount
Posted by Odysseus32
Member since Dec 2009
9683 posts
Posted on 4/16/25 at 8:18 pm to
quote:

Entirely dependent on the city


Sure, but I'm in Ellick and $1250 gets you a shite hole here. If $1250 gets you a shite hole here, I'd imagine that is the case most places.
Posted by triggeredmillennial
Member since Aug 2023
205 posts
Posted on 4/16/25 at 8:18 pm to
(no message)
This post was edited on 5/28/25 at 2:45 am
Posted by MemphisGuy
Germantown, TN
Member since Nov 2023
13496 posts
Posted on 4/16/25 at 8:21 pm to
quote:

You may want to remath that baw
Posted by Old Sarge
Dean of Admissions, LSU
Member since Jan 2012
61846 posts
Posted on 4/16/25 at 8:26 pm to
I’ve never heard that in my life

A mortgage should not exceed 25% of net income not gross


You shouldn’t come close to that with rent
Posted by AubieinNC2009
Mountain NC
Member since Dec 2018
7033 posts
Posted on 4/16/25 at 8:26 pm to
Ramsey would say 25%.

30% is a lot, he might want to look for room mates to keep cost down. Tell him to save, invest, and pay off any debt before going and getting more debt with fancy car, credit cards, and a house that is too big for him.
Posted by jchamil
Member since Nov 2009
18721 posts
Posted on 4/16/25 at 8:26 pm to
quote:

You may want to remath that baw


This is great
Posted by GeauxHouston
Midland, Texas
Member since Nov 2013
4977 posts
Posted on 4/16/25 at 8:27 pm to
quote:

If $1250 gets you a shite hole here, I'd imagine that is the case most places.

Good point. But I think there’s a balance between city size and rent price. Lafayette and BR seem to have decent apartments for that price.
Posted by armsdealer
Member since Feb 2016
12268 posts
Posted on 4/16/25 at 8:28 pm to
He won't find much nice under $2k, and well, nobody is going to rent him a $2k place with out $6k income a month.

Posted by GeauxHouston
Midland, Texas
Member since Nov 2013
4977 posts
Posted on 4/16/25 at 8:28 pm to
If he doesn’t have a girlfriend and has a buddy or two in the area he should for sure look at having roommates for at least a year.
Posted by BoogaBear
Member since Jul 2013
6937 posts
Posted on 4/16/25 at 8:30 pm to
Get the cheapest apartment you can in an area that is decent and isn't a shite hole.

ETA: reason being, he's new to making money, who knows what he will do with it. New vehicle, pick up an expensive hobby, get a girlfriend etc.
This post was edited on 4/16/25 at 8:32 pm
Posted by carguymatt
Member since Aug 1998
Member since Jun 2015
960 posts
Posted on 4/16/25 at 8:31 pm to
someone said something about roommates. I've used them since I was 20 on a shitty fastfood worker income, and now have a nice 2 story house. It needed repairs when I bought it 15 years ago during the housing crisis. but kept saving roommates money and finally did all the repairs. Now it's worth about 400k, and I have 100k worth of antique vehicles and 207k in the stock market.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
36126 posts
Posted on 4/16/25 at 8:36 pm to
quote:

100000 x .3 = 30000 30000 / 12 = 2500


I divided by 10 for some reason, Mingo regrets the error
first pageprev pagePage 1 of 3Next pagelast page

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on X, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookXInstagram