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Message

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 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 on 4/16/25 at 8:05 pm to Slippy
quote:
I want him to be able to eat
I wish my dad loved me this much
Posted on 4/16/25 at 8:06 pm to Slippy
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 on 4/16/25 at 8:12 pm to Slippy
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.
$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 on 4/16/25 at 8:14 pm to Odysseus32
quote:
$100k salary, he'd be spending $2500 on rent.
quote:
Is 30% of gross income
You may want to remath that baw
Posted on 4/16/25 at 8:15 pm to Odysseus32
quote:
spending $1250 is going to put you in a shite hole without roommates.
Entirely dependent on the city
Posted on 4/16/25 at 8:16 pm to Mingo Was His NameO
100000 x .3 = 30000
30000 / 12 = 2500
30000 / 12 = 2500
Posted on 4/16/25 at 8:16 pm to Slippy
I spend 33.33333% on rent. sucks what that comes out to in take home amount
Posted on 4/16/25 at 8:18 pm to GeauxHouston
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 on 4/16/25 at 8:18 pm to Mingo Was His NameO
(no message)
This post was edited on 5/28/25 at 2:45 am
Posted on 4/16/25 at 8:21 pm to Mingo Was His NameO
quote:
You may want to remath that baw

Posted on 4/16/25 at 8:26 pm to Slippy
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
A mortgage should not exceed 25% of net income not gross
You shouldn’t come close to that with rent
Posted on 4/16/25 at 8:26 pm to Slippy
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.
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 on 4/16/25 at 8:26 pm to Mingo Was His NameO
quote:
You may want to remath that baw
This is great
Posted on 4/16/25 at 8:27 pm to Odysseus32
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 on 4/16/25 at 8:28 pm to Slippy
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 on 4/16/25 at 8:28 pm to Slippy
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 on 4/16/25 at 8:30 pm to Slippy
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.
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 on 4/16/25 at 8:31 pm to Slippy
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 on 4/16/25 at 8:36 pm to Odysseus32
quote:
100000 x .3 = 30000 30000 / 12 = 2500
I divided by 10 for some reason, Mingo regrets the error
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