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All Options Consideredhttps://alloptionsconsidered.com
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UPDATED: December, 2019
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How Much Should You Spend on Housing?
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Monthly Calculator
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Gross IncomeHousing/monthHousing/yearHousing %NOTE TO USERS:
Enter your REAL numbers in the GREEN cells. The GRAY cells are formulas.

Understanding what percentage your housing costs represent in your budget is critical. These three calculators to the left all do basically the same thing. They help you find a housing budget that works with your income. Start by entering your Gross Income in the first calculator, then you can use either or both of the other calculators to determine a housing budget that works for you.
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$65,000$1,700$20,40031.38%
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Annual Calculator
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Gross IncomeHousing/monthHousing/yearHousing %
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$65,000$2,083$25,00038.46%
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% Calculator
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Gross IncomeHousing/monthHousing/yearHousing %
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$65,000$1,354$16,25025.00%
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A Few Statistics for Comparison
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ConceptGross PayTake Home PayInfo
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At what point are housing costs taking up too much of your income?Over 30%https://www.hud.gov/program_offices/comm_planning/affordablehousing/
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How much total debt will a bank allow when buying a home? Up to 43%When qualifying for a loan, banks will only let you service up to a certain % of your total income to debt payments. This is ALL debt combined such as mortgage + student loans + consumer debts.
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My Dad's housing advice.25%My dad used to say we should keep our housing costs at 25% or less than our total budget, which seems like a good baseline for "All In" renting or buying.
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DISCLAIMER: This spreadsheet is to be used for entertainment purposes only. All Options Considered is really just Ali and Alison Walker. We do not have professional credentials in the areas of personal finance, and nothing we share on our website or our social media is intended as professional advice or guidance.
Please send feedback and questions to alix2aoc@gmail.com.
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