(If you have a house don't worry about paying that off yet, I'll give you an idea of what you can do about that in a bit)2) once all your debt is paid off, start saving money, you save money by only buying what you need NOT WHAT YOU WANT, so you NEED hygienic supplies, food, clothes (but only once every 2, 3 months making a budget on that of maybe $100 to $150 per person in the house hold) you need gas, utilities, rent or mortgage ect.. you DON'T NEED for example if you have cable with HBO do you really need Netflix and do you really need to go to the movies every weekend, do you need to have all the movie packages that the cable company offers??

Thought everyone might be interested in this look at changing trends in the housing market and the increase in households who are renting across the income and across the demographic spectrum. http://www.washingtonpost.com/blogs/wonkblog/wp/2015/06/24/how-renting-became-the-new-homeownership/?

Had a potential 4 night renter tell me I must accept his wife's dog because it was a service dog, even though we advertise as an allergen free, no pet household? 

Median household income in Missouri City in 2012 was $84K and in Sugar Land it was $113K.  

@Alma MillsAs long as the applicant has stable job history, verifiable income, and good credit, I think you'll be fine - especially at this price point.Most of LA is paying the highest % of their income on rent compared to other Americans.Renter Households Paying More Than 30 Percent of Household Income Towards Los Angeles Has the Most People Paying an Insane Amount of Their Income Toward Housing

If it is in C or D markets or an older building, make sure you do your homework on the demographics, household incomes, and historical values (especially when the market dropped). 

Household formation is on the rise and inventory is in short supply, not sitting vacant in most areas where the funds were most active. 

According to a NAHB, National association of Home Builders:14 millions households were purchased between 2011 and 2013.11% purchased brand new homes.43% were purchasing their first home.Median age of buyer was 32 years old with income of about $62,000Median age of new home buyers was 40 years with income of about $85,000Median value of homes was $168,000.The median buyer looked at 10 houses before buying.11% bought using cash or zero down financing17% used proceeds from sale of existing house to buy.Full study is at:http://www.nahbclassic.org/generic.aspx?

Currently the median household income is $76,000 while the median home price just hit $1,000,000 for the first time.

@Gilbert DominguezPart of the concerning trends in Canada, particularly in hyper-markets such as Toronto and Vancouver, is the widening gap between housing prices and household income.