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Updated almost 10 years ago on . Most recent reply

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Jon Klaus
  • Developer
  • Garland, TX
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One in four renters spends half their income on housing

Jon Klaus
  • Developer
  • Garland, TX
Posted

Spending half their income on housing 

Do you  have any tenants that spend half their income on housing?   What issues has it caused?

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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

@Jon Klaus - the article in the link you posted does not say 50% of income goes toward rent; it says 50% of income goes toward housing, where housing is rent plus utilities. A bit different from the message in the topic title. 

I try to stay with the numbers that HUD has in place as affordable for Section 8 even though a unit isn't getting a Section 8 tenant - 30% of income toward rent (income roughly 3x rent), with no more than 40% of income toward rent (income at least 2.5x rent). Those HUD numbers are from statistics taken from lots of housing units all over the place, and no single one of us could gather that data from our own units.

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