Am I house poor?

A year, before taxes.

A month, after taxes and payroll deductions.

A month: principal and interest, or your rent.

A month, including mortgage insurance.

A month: power, gas, water, trash, internet.

For a maintenance budget.

A month: car, student loans, cards.

Cash you could reach this week.

Not house poor, but stretched

Housing takes 28% of your gross income ($2,800 of $10,000 a month). That's within HUD's 30% line, but a guideline below is in the warning zone.

Housing costs are 28% of income. Lines mark 28%, 30% and 50%.

  • Housing costs (OK)

    28% of income

    Under 28% is comfortable; HUD's cost-burdened line is 30%.

  • Mortgage plus other debts (OK)

    29% of income

    Lenders aim for 36% or less; most stop around 43%.

  • Emergency cushion (Watch)

    4.7 months

    Of housing and debt payments. 3 months is a minimum, 6 is safer.

  • Left each month (OK)

    $3,846

    Of take-home pay, after housing, debts and $354 for upkeep (1% of the home's value a year).

Am I house poor? by Points Frog ↗ · An educational estimate, not financial advice.