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re: How much rent can a young person afford on 60k income?

Posted on 5/3/17 at 4:31 pm to
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
32733 posts
Posted on 5/3/17 at 4:31 pm to
We made 70k when we moved to New Orleans and our rent was $1200. We lived comfortably.
Posted by kciDAtaE
Member since Apr 2017
15858 posts
Posted on 5/3/17 at 4:43 pm to
Same as a middle aged person making $60,000 a year
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 5/3/17 at 4:49 pm to
Not really. Kids, student loans, retirement account balances, they all make a difference
Posted by noonan
Nassau Bay, TX
Member since Aug 2005
36904 posts
Posted on 5/3/17 at 5:00 pm to
quote:

With the mortgage you at least have the possibility of getting what you put in back out. With renting, you have zero chance of getting any of that money back.


Hell, getting 50% back from what we've put in would be better than getting the nothing back that we are getting from renting.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 5/3/17 at 5:00 pm to
quote:

I'm 22, about to get married myself


Prayers sent.

quote:

I bought a lot of land and a house


Sounds like you live in LP and have never left your hometown.
Posted by Gings5
HTX
Member since Jul 2016
8087 posts
Posted on 5/3/17 at 5:02 pm to
Rule of thumb is 1/4 of your net income.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73681 posts
Posted on 5/3/17 at 5:07 pm to
quote:

Hell, getting 50% back from what we've put in would be better than getting the nothing back that we are getting from renting.



Unless you have been paying 25% more and responsible for all your own maintenance.
Posted by tipup
Member since Sep 2005
1649 posts
Posted on 5/3/17 at 5:08 pm to
All of it.
Posted by LNCHBOX
70448
Member since Jun 2009
84304 posts
Posted on 5/3/17 at 5:18 pm to
quote:



I'd definitely want someone like you to babysit my kids in n.o




This is one of the stranger things I've read here.
Posted by kciDAtaE
Member since Apr 2017
15858 posts
Posted on 5/3/17 at 5:23 pm to
I don't have kids. I never had student loans. I'm 25 years from retiring.

Listing the age has zero to do with it compared to location, defendants, lifestyle, debt
Posted by Rossberg02
Member since Jun 2016
2591 posts
Posted on 5/3/17 at 5:25 pm to
Easily 1200-1500 if you're not in debt or paying a car note!

I had a 500sq ft apartment on Prytania that was as updated as you'd get in an older home and was paying 950. I was making 45,000
Posted by X123F45
Member since Apr 2015
27480 posts
Posted on 5/3/17 at 5:37 pm to
quote:

This is why you don't go to 4 years of college to be a school teacher, 2 salaries and making 60K a year.



Or teach in better parishes. 48k in my parish
Posted by AUlock54
Member since Dec 2016
1515 posts
Posted on 5/3/17 at 6:02 pm to
You are indeed correct, I'm not a city person and there are mostly trustworthy people who aren't scumbags so I decided to stay.

What is LP?
This post was edited on 5/3/17 at 6:25 pm
Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 5/3/17 at 6:10 pm to
quote:


Combining your income with a girlfriend? What a maroon.


It's not like we share a bank account we just share groceries, bills, etc.
Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 5/3/17 at 6:11 pm to
we could afford it without the roommate but saving money is more important to me
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65877 posts
Posted on 5/3/17 at 6:47 pm to
Pics of fiancé?

Possibly I could help until the wedding.
Posted by djangochained
Gardere
Member since Jul 2013
19054 posts
Posted on 5/3/17 at 6:50 pm to
quote:

My gf and I combine for 75k ish and live comfortably


You call that living?
Posted by noonan
Nassau Bay, TX
Member since Aug 2005
36904 posts
Posted on 5/3/17 at 7:45 pm to
quote:

Unless you have been paying 25% more and responsible for all your own maintenance.


Getting anything back would be great.

We are paying 1400 a month. Give me 300 a month of that back when we move out and I'd be ecstatic.
Posted by melovecookie
BR
Member since Oct 2016
163 posts
Posted on 5/3/17 at 7:50 pm to
The least amount I've ever made out of school was 90,000. My rent at the time was $425..... I managed, but I had to budget my money.


A few years later my salary was $180,000 and my house note was $1,400....... i struggled. I lived pay check to paycheck.I had 2 car notes as well that totaled $1,000/month



I seriously don't have a clue how anyone could survive even if a house was givin to them on $60,000/year.
Posted by Eauxs Binder
Member since Nov 2016
53 posts
Posted on 5/3/17 at 7:55 pm to
Why don't you pitch in you cheap frick? You just started a thread about your new Land Rover not having XM. Is she fat or something?
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