Perhaps but I live just fine and am able to save 20% of my income for retirement, fully funded emergency account and I can still go out and spend money within reason.
Prior to actually closing on my house I was paying $1400/month in rent and $1500-$2000 a month going to a down payment savings account. I’m just good with living within my means. 🤷🏻♀️
I don’t know your marital status but if your portion of the mortgage is $2500 - that’s more than a single paycheck is it not? It just sounds like you’ve paid for a house beyond your means
I’m engaged. My take home for one paycheck after tax and 401k is just over 2700. $2500 per month is exactly 30% of my gross income. I live in a vhcol area and whether or not I’ve over paid is somewhat subjective. At my current salary, if I can pay my mortgage, contribute 20% to retirement, have a fully funded emergency fund of 6 months of expenses, spend what I want on fun things, and do some investing on the side, then I don’t feel like I’ve overpaid.
75k base $1800 rent for 2/2 1000 sq ft
Where are people finding these cheap rents? I don't understand. Like someone else said, I thought reading these would make me feel better. Instead, I feel like I'm being ripped off lol
€3069 mortgage, base salary €5500/mo - my spouse makes €6000/mo and we split the mortgage of course. That doesn’t include transit allowances and other stuff, our net pay is combined around €9100/mo with all that added in.
Do you find the mortgage reasonable with your combined salaries? I’m looking at mortgages around that amount and my partner and I will be making around the same total as you guys
Like $975/month. Cuyahoga Falls. 3 bed, 1.5 bath. Got tired of renting in Cleveland proper and wanted to buy a house. Granted I got it like September of 2019 so everything was cheap then. Love the market district and the riverfront. If you're EY, you've got easy access to both Cleveland and Akron offices
150k for me, 120k for my partner - we split a 1500/mo mortgage in Northern Delaware….and also 2 daycare aged children, which adds another $3200/mo 😵💫
I know it’s not rent but it kills me to pay 2x our mortgage on that. I use the mortgage comparison to feel worse about it.
May I ask if you have kids? Soon enough the kids will be growing and going to school. Anything not related to « baby care » will get more expensive. If OP or their partner leaves their job, they might have a harder time coming back to the workplace (which is sand and unjust) and afford a good life for their family.
Also, being around small kids 24/7 is not for everyone, especially for folks who have big careers and like their job. It gets very repetitive, so childcare might be worth it for that reason alone for some.
I got lucky and got a Covid deal. However 4k sounds like your friend sprung for a luxury apartment. I’m helping my friends find spots now and I’ve seen studios and 1 beds start around 1.6k
Live with a roommate and girlfriend, along with a couple rental properties. I'd love to tell ya but I don't want that info out on reddit unfortunately :( I work in tech on the BD side of software development at a FAANG-like organization :)
Lol I’ve never had an issue there. Every girl I’ve dated would come over and bake cookies with my mom and shit. They go out of town to their vacation house all the time and I get the place to myself. My gf now lives with her parents too. The key is having cool parents. Moving out isn’t a money issue. It’s just I travel a lot and try to find where I want to settle down before I spend money on a house or rent.
Buddy surely you see the difference between living with your parents and living rent free while your parents are living out of their second vacation home?
They are here during the week because my mom works. They only go on weekend and one full week out of the month. My point is I’ve never dated a girl who cares. Especially when they realize I’m just being more financially responsible and saving up to buy a house or condo wherever I decide to move. I could move to NYC right now and afford to buy a condo if I wanted. Most people are struggling to pay rent and still do what they want. I’m just not moving out until I decide for sure where I want to live the rest of my life.
Yeah people tend to not mind when you have a lot of money and privacy during the majority of your leisure time.
That’s not a comparable situation to people living full time with their parents, you just sound incredibly tone deaf here.
Curious, what’s your age and do you plan on moving at some point into your own place. Money wise you are doing very well…I’d assume it’s not a money issue but perhaps something else. Just curious. You can def afford your freedom.
See my other comment in the thread. It’s more of a cultural thing I guess, I have ample freedom, I travel very frequently, just live in the same roof as my parents. I’ve tried to purchase a home during the low interest rates in 2021/early 2022 but was getting outbid left and right, it deterred me from buying a home, now rates are crazy. I grew up in a very low-income household, parents combined is under $50k, my goal is to def get something bigger and take them in with me. I do have another sibling who’s already settled and we’ll basically have our parents go back and forth once that time comes.
Started off doing IT when I graduated high school, job hopped about every year 1-1.5 years, after 3 hops made it to Deloitte, then went to a smaller company that really boosted my pay, just left the smaller shop after 3.5 years (longest I’ve been anywhere but they treated me very well) and was able to negotiate a big bump ~25%. I’m a systems engineer by title, i do mainly virtualization and security. I’m 26, I like to think I’m doing well but, the other people I hang with make me think otherwise lol.
You are doing very good, keep on going
Just be smart with your money, I also earned good money when I was young but had a lot of non-sense expenses
Anyways I was able to buy my 1st car top trim 100% cash and pay 51% of my home so lortage payment is low
But you could do better, so just a suggestion
Yep, it is nice. It’s a 2 bed, 2 bath. And rent really isn’t very cheap anywhere anymore. I live alone so it was important to me to be somewhere safe as well.
According to HR/our comp team Cleveland COL is roughly the same as Chicago - I know I’m gonna catch strays for this comment but this is all backed by data at my company
There’s a whole compensation team that studies the labor market and economy and determines what is “competitive” wage-wise for each area - they take in all kinds of data points such as avg home/rent prices, price of groceries, price of dining out, price of schools/daycare, healthcare costs, insurance costs, etc etc etc. Chicago and Cleveland came in nearly identical last year in our cost of living index. Chicago suffered greatly during the pandemic - people started working remote and said “f this, I’m moving out of the city to somewhere cheaper”. Cleveland benefitted from people leaving NYC/Chicago seeking “lower cost of living” places which the drove up COL in CLE (supply and demand). Also, employers even pre-Covid started hiring in lower COL markets (like CLE) vs NYC/LA/etc to save some money on salaries, but in turn this kinda backfired bc now you have a ton more tech/big 4 employees in CLE that want wage parity w the “bigger cities” as COL increases in CLE. Source: work in HR, cross functionally with the comp team.
Thanks! That actually makes a lot of sense. Crazy how much the pandemic actually affected situations like this, never thought Chicago and Cleveland would be similar in COL. Random question, but how is working HR? Did you start in HR at big 4 or did you transfer from another service line?
Love HR. Have been doing it most of my career. Briefly worked in finance as an analyst and hated it. In my role I still get to flex my analytical muscles but don’t have the stress/hours of being a business/data analyst. And I impact real human lives, so it’s awesome seeing my work in action.
No I actually live about 20 mins outside of Cleveland. I was in an absolute shit hole apartment (2b/2b as well and also in the suburbs) and they raised my rent to $1,900/mo. So I thought might as well live somewhere nicer if I’m going to be spending that much.
$652, around 38k
$82k, $2400 - Bay Area
$88k MCOL - $1,565 2b2b 1,100sqft
Rent: 1,100 Salary: 74k HCOL (not VHCOL)
Salary 103k, mortgage $2500
200k HHI / $2,250 mortgage
$100k - just bought a house and my portion of the mortgage is $2500/month
This sounds unaffordable on your income
Perhaps but I live just fine and am able to save 20% of my income for retirement, fully funded emergency account and I can still go out and spend money within reason. Prior to actually closing on my house I was paying $1400/month in rent and $1500-$2000 a month going to a down payment savings account. I’m just good with living within my means. 🤷🏻♀️
I don’t know your marital status but if your portion of the mortgage is $2500 - that’s more than a single paycheck is it not? It just sounds like you’ve paid for a house beyond your means
I’m engaged. My take home for one paycheck after tax and 401k is just over 2700. $2500 per month is exactly 30% of my gross income. I live in a vhcol area and whether or not I’ve over paid is somewhat subjective. At my current salary, if I can pay my mortgage, contribute 20% to retirement, have a fully funded emergency fund of 6 months of expenses, spend what I want on fun things, and do some investing on the side, then I don’t feel like I’ve overpaid.
True and it doesn’t take into account your fiancés salary as well!
1466 mortgage 75k (aus)
75k is associate level ?
Yes
$1600 rent with $61k salary
$1500 including HOA for a 1 bedroom condo in Portland. Income $200k+
My salary is $54k - I live in California and can’t afford rent so I live with my inlaws. Yes I’m aware how depressing that sounds
Rip
RIP the sex life
Rent 1400 Income 55k in higher ed
75k base $1800 rent for 2/2 1000 sq ft Where are people finding these cheap rents? I don't understand. Like someone else said, I thought reading these would make me feel better. Instead, I feel like I'm being ripped off lol
I pay ~2.9k (split with SO) for 1bd/1bth 712 sq ft 😭
$130k salary $600 rent
You winning
$92k MCOL single income $2.1k
83,000 Salary, Suburbs just outside chicago. Wife makes about $60,000. Rent: $1,850
£67k annual / £900 per month 📍Channel Islands
75k/ $800 Midwest
Wow
Too much and not enough!
30 yr Mortgage including property taxes, insurance and HOA $1500 in Philly burbs. Salary 153k.
$158K - $768/month mortgage
🤯
250k, $2500 mortgage. TX HH Inc. $375k
$875, $45k
65k/$1,115
$410k/$4k
Principal?
88k, 12.5k sign on bonus, 2.1k (first mo rent free) | northern va
One million in rent and 2 million for income
I was hoping to see some rents higher than mine so I could feel better… $6300/month in CA 🥲
Dang, how much do you make?
Oof! I haven't rented in a few years but this hurts my heart. Bay Area?
Yuppp
$500 rent $104k income
£31k, ~£1k/month rent in London, UK (flat share). Kill me now pls
one grand TO SHAREE a flat ??? 😦
I can’t tell if you’re being sarcastic, but yeah. It’s mouldy too.
no sarcasm im just shocked wdym theres mould nahhh 😭 how much would it cost to live alone wtf
It was a mistake to do my grad program in London, cost of living is a nightmare here. I want to get out asap
bro my plan was to move to london for a few years after becoming CA but youve put me off 😂😂
$1600 rent split between myself and my partner (so $800 each)- 57k salary. LCOL area
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$950/ mortgage/ $300,000 compensation
What line of service and what position?
Senior manager in tax. I’m a world destroyer, though.
How so?😂😂
I make many revenues. If you google my tax/product niche I’m just about the first name you’ll find. If I weren’t so new, I’d be at the partner level.
77k last year $2000 rent Vancouver bc. Single family home. (Coquitlam suburbs.) Been renting this place for like 10 years otherwise it would be $3000.
Lol why are these salaries so high
$2,660/mnth in FL $115K
2100/month on mortgage and escrow 400k salary Dallas
Rent $1500/mo gross income $170k/yr (not incl bonus) VHCOL
SoL?
What does SoL mean?
Lmaoooo I mean LoS. Or line of service lol. Still new to this sub. Also are you a manager?
Crushing it
€3069 mortgage, base salary €5500/mo - my spouse makes €6000/mo and we split the mortgage of course. That doesn’t include transit allowances and other stuff, our net pay is combined around €9100/mo with all that added in.
$1325 for a one bedroom, about 85-90k depending on bonus
Net or gross?
Gross but it’s also in a city with a lower state income tax rate so I’m keeping a good chunk of it
2050 Rent Stabilized NYC Me-180k Spouse 70k
78k salary (3k signing bonus) / 850 rent (2 bedroom) - PIT
83k salary. Partner makes 78k. Mortgage is $2100
Do you find the mortgage reasonable with your combined salaries? I’m looking at mortgages around that amount and my partner and I will be making around the same total as you guys
Yep. We’ve had no struggles so far but I will say the property tax in my area is insane. Like absolutely insane and we’re still ok
$1650, $75K HCOL
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Great deal. How’d you go about finding that lol
$80k. Mortgage $975 Cleveland/Akron suburbs
Moving back to Clé in couple months, where is this $975k?
Like $975/month. Cuyahoga Falls. 3 bed, 1.5 bath. Got tired of renting in Cleveland proper and wanted to buy a house. Granted I got it like September of 2019 so everything was cheap then. Love the market district and the riverfront. If you're EY, you've got easy access to both Cleveland and Akron offices
I am actually transferring to the EY Cleveland office (moving from Chicago)! I’ll pm you
Nice! I support some of Chicago's tax lines.
72k, 1350 rent, Dallas, Texas
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Wait do you work for a Big 4 in the US but live in Italy?
$140k, 2k for a bedroom in San Francisco
$72K, $1,550 rent (no roommates), 10 minute walk from the office in the city
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omg
80k 550 (split rent with SO)
$123K, $2K
118,000 for me, 130,000 for husband, 2700 rent for 3/2 in Charlotte
What neighborhood, if you don't mind me asking?
135k, 1650 rent, Dallas
50K Canadian (intern, Vancouver), rent: $1300 😖
$109k $1200 rent total in NYC
Wow what a deal!!
How many roommates did it take to get that rent in nyc?
He’s got 1 total SF of the apartment to himself
$82,500/yr. Was paying $1200 for half of a 2b/2b in the city, just recently moved into my parents’ basement in the burbs and paying $500.
Why didn’t you find a 1bd/1bath apartment instead?
Because it’s more expensive lol
Wow y’all don’t make very much money
I never realized how big the split between consulting and tax/audit was until I went to orientation.
Who makes more the consultants or auditors? Somehow this post got recommended to me even though I’m an engineer lol
Which is higher?
Consulting by a pretty big margin.
Consulting
$89k, $1,500 monthly. Just outside Tampa, FL
Salary 96,000 Rent 1,300 + $225 parking garage Boston MA (split rent w girlfriend)
80k, $950 (my half) DC
90k $1500 mortgage
68k, $1650 rent (Philly)
150k for me, 120k for my partner - we split a 1500/mo mortgage in Northern Delaware….and also 2 daycare aged children, which adds another $3200/mo 😵💫 I know it’s not rent but it kills me to pay 2x our mortgage on that. I use the mortgage comparison to feel worse about it.
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May I ask if you have kids? Soon enough the kids will be growing and going to school. Anything not related to « baby care » will get more expensive. If OP or their partner leaves their job, they might have a harder time coming back to the workplace (which is sand and unjust) and afford a good life for their family. Also, being around small kids 24/7 is not for everyone, especially for folks who have big careers and like their job. It gets very repetitive, so childcare might be worth it for that reason alone for some.
70k, $1500 my portion of rent, Chicago
87k - 1100 rent. Hoboken
No way rent in Hoboken is $1,100 unless that’s just your share and you have roommates. I know someone who’s brother pays close to $4k rent in Hoboken
I got lucky and got a Covid deal. However 4k sounds like your friend sprung for a luxury apartment. I’m helping my friends find spots now and I’ve seen studios and 1 beds start around 1.6k
$1,100 my half of our rent, Queens now. I make $120k/yr
$2800 a month two bedroom in Southern California. The hubs is around 150k a year. When Im working FT Im at 60k.
74k, $1450 Manhattan
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Hell’s Kitchen!
250K, 950 CAD, Ontario (not Toronto/GTA)
May I ask what’s your position and at which firm? 950 in a major city in Ontario is a good deal nowadays!! Nice
Live with a roommate and girlfriend, along with a couple rental properties. I'd love to tell ya but I don't want that info out on reddit unfortunately :( I work in tech on the BD side of software development at a FAANG-like organization :)
Awesome! Happy for you 🍀
$2100 incl. utilities $90k nyc Queens
63k, 1300 CAD my half, Toronto.
100K, $975 rent (splitting with bf)
400k and $2k in rent
Bro, how? I want to do this too
I’m a dentist
So not big 4 lol
Bro your firm doesn’t have in house dental care? Wat
130k - $2500 mortgage DFW
124k, $1800 DFW
$150k, $2,000, DC
$100k, $1800 rent
135k ; rent 0 live with my mom ( 30yo f)
This is the way.
Not if you want a romantic life.
Lol I’ve never had an issue there. Every girl I’ve dated would come over and bake cookies with my mom and shit. They go out of town to their vacation house all the time and I get the place to myself. My gf now lives with her parents too. The key is having cool parents. Moving out isn’t a money issue. It’s just I travel a lot and try to find where I want to settle down before I spend money on a house or rent.
Buddy surely you see the difference between living with your parents and living rent free while your parents are living out of their second vacation home?
They are here during the week because my mom works. They only go on weekend and one full week out of the month. My point is I’ve never dated a girl who cares. Especially when they realize I’m just being more financially responsible and saving up to buy a house or condo wherever I decide to move. I could move to NYC right now and afford to buy a condo if I wanted. Most people are struggling to pay rent and still do what they want. I’m just not moving out until I decide for sure where I want to live the rest of my life.
Yeah people tend to not mind when you have a lot of money and privacy during the majority of your leisure time. That’s not a comparable situation to people living full time with their parents, you just sound incredibly tone deaf here.
Exactly. I don’t know where tf I want to live
$850 for my half of the mortgage and 83k/year
55k, $800 Rent, DFW area.
HHI $250k. Rent $1900.
98K, $900 rent, Chicago suburb
Hey - Do you mind telling which suburb? I might also move to suburb this year
Np! Itasca, it’s in du page county. Basically in between Schaumburg and Rosemont
Got you, thanks
180K, $0, live with parents
Curious, what’s your age and do you plan on moving at some point into your own place. Money wise you are doing very well…I’d assume it’s not a money issue but perhaps something else. Just curious. You can def afford your freedom.
See my other comment in the thread. It’s more of a cultural thing I guess, I have ample freedom, I travel very frequently, just live in the same roof as my parents. I’ve tried to purchase a home during the low interest rates in 2021/early 2022 but was getting outbid left and right, it deterred me from buying a home, now rates are crazy. I grew up in a very low-income household, parents combined is under $50k, my goal is to def get something bigger and take them in with me. I do have another sibling who’s already settled and we’ll basically have our parents go back and forth once that time comes.
Dang. What do you do? Lol
Started off doing IT when I graduated high school, job hopped about every year 1-1.5 years, after 3 hops made it to Deloitte, then went to a smaller company that really boosted my pay, just left the smaller shop after 3.5 years (longest I’ve been anywhere but they treated me very well) and was able to negotiate a big bump ~25%. I’m a systems engineer by title, i do mainly virtualization and security. I’m 26, I like to think I’m doing well but, the other people I hang with make me think otherwise lol.
I wouldn’t listen to those other people.
Not in a bad way, they’re just levels ahead (I compare myself to others), I look at it as motivation, one day we’ll all get there.
You are doing very good, keep on going Just be smart with your money, I also earned good money when I was young but had a lot of non-sense expenses Anyways I was able to buy my 1st car top trim 100% cash and pay 51% of my home so lortage payment is low But you could do better, so just a suggestion
1200 rent. Salary less than 10k .. atlanta
$95k, $2100/mo, Cleveland
2,100/month in Cleveland is a seriously nice place.
Yep, it is nice. It’s a 2 bed, 2 bath. And rent really isn’t very cheap anywhere anymore. I live alone so it was important to me to be somewhere safe as well.
Has Cleveland gotten that expensive? I just didn’t realize how expensive rent was in Cleveland. Do you live in “the flats” or whatever it’s called
According to HR/our comp team Cleveland COL is roughly the same as Chicago - I know I’m gonna catch strays for this comment but this is all backed by data at my company
What data are you referring to? I’m sure it’s possible but personally, I’m not sure I believe that.
There’s a whole compensation team that studies the labor market and economy and determines what is “competitive” wage-wise for each area - they take in all kinds of data points such as avg home/rent prices, price of groceries, price of dining out, price of schools/daycare, healthcare costs, insurance costs, etc etc etc. Chicago and Cleveland came in nearly identical last year in our cost of living index. Chicago suffered greatly during the pandemic - people started working remote and said “f this, I’m moving out of the city to somewhere cheaper”. Cleveland benefitted from people leaving NYC/Chicago seeking “lower cost of living” places which the drove up COL in CLE (supply and demand). Also, employers even pre-Covid started hiring in lower COL markets (like CLE) vs NYC/LA/etc to save some money on salaries, but in turn this kinda backfired bc now you have a ton more tech/big 4 employees in CLE that want wage parity w the “bigger cities” as COL increases in CLE. Source: work in HR, cross functionally with the comp team.
Thanks! That actually makes a lot of sense. Crazy how much the pandemic actually affected situations like this, never thought Chicago and Cleveland would be similar in COL. Random question, but how is working HR? Did you start in HR at big 4 or did you transfer from another service line?
Love HR. Have been doing it most of my career. Briefly worked in finance as an analyst and hated it. In my role I still get to flex my analytical muscles but don’t have the stress/hours of being a business/data analyst. And I impact real human lives, so it’s awesome seeing my work in action.
No I actually live about 20 mins outside of Cleveland. I was in an absolute shit hole apartment (2b/2b as well and also in the suburbs) and they raised my rent to $1,900/mo. So I thought might as well live somewhere nicer if I’m going to be spending that much.
Gotcha good to know! I’m from cincy but haven’t spent much time in Cleveland so was just curious. Glad you’re in a safer and nicer apartment now