Rent/Mortgage....How much do you pay?

United States
May 18, 2007 11:44pm CST
I'm curious as to what other people are paying for rent or mortgage each month. How much do you pay? If you have a mortgage, does it include your taxes and insurance? How big is your apartment or house? We pay $1,260.00 for our mortgage, that does not include taxes and insurance. Our taxes run us a little over $4,000 per year and our home owners insurance is about $650 per year. We also have a 2nd mortgage of $360.00 per month. We took that to do renovations on the house. We have a 4 bedroom, 2 1/2 bath house, approximately 2,500 square feet.
19 people like this
44 responses
@carlaabt (3505)
• United States
14 Jun 07
Right now we live in base housing. I guess we technically pay $666 for rent and all utilities, since that is what my husband's housing allowance will be when we move off base. The house we are living in is 3 bedroom, 1 bathroom. It's two stories. Each floor has approximately 530 square feet, and it has a full basement. We are in the process of buying our first house. It's technically 2 bedrooms and 1.5 baths, but it has a full basement, that just needs floor coverings to be considered completely finished. So we are going to put carpet down there and put up a wall, and make another bedroom down there, and use the rest of it as a living room. The square footage for each level is 790. Our house payments are only going to be around $275 each month. We are getting a low interest rate, and we are putting down around 10%. We are getting a really cheap house, because we are buying so far from the town. But the house we are moving to is only about 18 miles from the base, and the town is 15 miles in the other direction, so it will take my husband less time to get to work than it would if we lived downtown. A house down there that was in as good of shape as the one we are buying, would cost over 3x as much. Our mortgage won't include taxes and insurance. Our insurance will be around $400 each year, and our taxes will be about the same.
4 people like this
@4cuteboys (4102)
• United States
14 Jun 07
WOW $275 a month! I am so jealous!!
2 people like this
@carlaabt (3505)
• United States
15 Jun 07
We live in North Dakota. Everything is cheaper here. lol. I'm not sure where you are stationed, but my husband only gets $666 for his BAH, it's one of the lowest rates in the country.
1 person likes this
@shortyg (36)
• United States
19 May 07
I am renting a townhome and pay $1100 a month. The townhome is about 1200sq. ft. 2 bedroom 2 bath.
4 people like this
@MakDomMom (1474)
• United States
19 May 07
We have a 1 and 1/2 story house, 3 bedrooms, 1 bathroom. Morgage is $551 per month, includes taxes (approx $1600 per year) and house insurance (approx $390 per year). We also have a 2nd morgage of $200 per month.
3 people like this
• United States
19 May 07
Oh I wish my mortgage was that low. My state is getting very expensive to live in. And the taxes keep going up.
2 people like this
@eden32 (3976)
• United States
14 Jun 07
Wow- do you mind if I ask where you live? That seems so low.
2 people like this
@MakDomMom (1474)
• United States
15 Jun 07
I live in northern Wisconsin, USA
2 people like this
@tredale (1313)
• Australia
14 Jun 07
I am buying a four bedroom house on a 1416 squ mtr block. On a hill in perth Australia and my morgage is $800.00 a month. My insurance is about $500 a year. This will go down in another couple of months. I wonder were you are living what country.
3 people like this
@tredale (1313)
• Australia
14 Jun 07
sorry forgot to mention no taxes. Also will go down to about $600 a month the loan in 2 months.
3 people like this
• United States
14 Jun 07
I live in the USA. Do you not have property taxes in Australia?
2 people like this
• United States
11 Jun 07
WOW! You must have a really nice house! We own our home - three bedroom, den, one bath house - close to 1400 square feet. We pay between $750-800 depending on how much extra money we have that month (but are only required to pay $630). I want to get as much equity in the house as possible. We actually have two home loans. The regular mortgage and also a home equity line we borrowed for the down payment. I can't wait to get that second loan paid off because then it will only be about $600 I pay every month. Oh our taxes and insurance are included in those figures too.
3 people like this
• United States
14 Jun 07
Yes it is a nice house, but I would sure love to have a smaller mortgage.
3 people like this
• United States
15 Jun 07
LOL - I understand that :)
3 people like this
@4cuteboys (4102)
• United States
14 Jun 07
We live in military housing but it's considered "renting". This includes everything though. It's $1780 a month for a 3 bedroom, 1 bathroom dump..lol. Soon we will be moving into a 4 BR and the price stays the same. It goes based on my hubby's rank. It's probably only 1200 sq ft here if I had to guess.
3 people like this
@amyann16 (414)
• United States
14 Jun 07
We pay $1417/month, this includes taxes and insurance for a 3100 sq. feet home. We have 4 bedrooms and 3 bathrooms, completely finished basement. We have a decent sized backyard that is fenced in, and 2 decks, one really large one off the back of the house and another smaller one off the master bedroom. We just moved into our house in Feb. and love it!
3 people like this
• United States
14 Jun 07
We are currently paying $800 a month for a 1 bedroom, 1 bath apartment. It's not bad, but we are constantly looking to improve. We are actually looking into investing in a home in the not-too-distant future. It's an affordable price for us for now, but we'd love to get into the home owner category pretty soon.
3 people like this
• United States
14 Jun 07
I am a renter right now but with all the repairs I have put into this house you would think I owned it. Right now I pay $650 a month and my hosue is a 3 bedroom, 2 bath with a laundry room and attached garage. It also includes a fenced yard at the end of a cal-de-sac. I think I am getting a great deal so I don't complain too much about the money I spend to fix things up here and there. The house is about 11 square feet and barely big enough for my family of 6 but it is a roof over our head and priced just right so who am I to complain?
3 people like this
• United States
14 Jun 07
We currently are renting a 6 bedroom 2 bath house with over 2000 sq ft. for $600/mth. We are in the process of buying the home as our landlord wants to sale it. Payments have been quoted around $440/mth not including tax & ins.
@sedel1027 (17855)
• United States
15 Jun 07
Wow, that is a great deal. For that mortgage payment down here you can't even get a 50 yr old, 1,000 sq ft and a 2 bdrm, 1 bath. The insurance would run close to $200 a month.
2 people like this
• Canada
24 Jan 08
6 bedrooms? Wow. I pay $175/month more than you for a fairly average sized 2 bedroom apartment. I would love to rent a house but it's definitely not in our budget. My boyfriend is a musician so it would be nice if he had a space to play without noise being a huge issue.
@lillake (1634)
• United States
14 Jun 07
We have a 2 bedroom 1 bath and pay $250 monthly. I don't know the suare footage, but its spacious and roomy with a huge dining room, fireplace, and built in bookshelves.
2 people like this
@mfpsassy (2827)
• United States
14 Jun 07
Well technically our part of our morgage payment is $350, but our total morgage payment is $1180 which includes insurance ($650 a year) and taxes ($2000 a year) We have 2 acres with our house which is 3 bed 1 bath and a 2 car garage. We also have 2 1 bedroom rental houses on the property too. So the renters pay 2/3 of our morgage payment.
• United States
14 Jun 07
We pay $500 for our house rent. Its a small house with a big yard though. This low of rent though is just not possible around here. So we are lucky enough to be at low rent and thankfully staying there for now. We'll stay here until we can afford to buy.
2 people like this
@maddysmommy (16236)
• United States
14 Jun 07
Its expensive living where we are. We are renting a 2bedroom, 2bath apartment on the second floor, with separate lounge, dining, kitchen, one storage compartment in the garage, one carpark all for $1650 + utilities. Only the water and trash is covered. We are looking to move as soon as we are able to - unfortunately my husband signed a 2 year lease and we have only lived here a year so I'm not even sure if we can move. The reason why he chose this place was because the metro is across the road and the public school is right around the corner. Very convenient when it comes to him going to work and my son going to school.
2 people like this
• United States
14 Jun 07
We moved recently, so this may give you a sense of how much rents can vary throughout the U.S. Before, we lived in a college town in the midwest, fairly close to campus, and had a very small two bedroom apartment. We paid $430 a month for that, and had to pay our own utilities. We just moved to Seattle, and realized that we could not really afford a two bedroom apartment here, unless we wanted to live far from the downtown area. So we settled on a large one bedroom apartment (probably bigger than the place we had before, just less walls and doors). We pay $735 a month for that, and that includes our water bill. Rents here really vary a lot, depending on the neighborhood that you want. To actually live downtown, we would be paying over $1,000 for a studio apartment, and some of those are under 500 sq. ft.!
@terri0824 (4991)
• United States
14 Jun 07
I pay $560 a month for a 3 bedroom, 1 bath. This doesn't include taxes which are about $250 year and insurance $600 a year. I should have it paid off within the next 10 years.
2 people like this
@tmlnmr (1850)
• Canada
14 Jun 07
I own my house but I don't have a mortgage. My house was $5000.00 total so it is paid off. To answer your next question yes it was ready to live in when we bought it. Although we have done alot of renovating to it and still are renovating more or less. We feel that the renos are never done and there is always something to change. By the time we are done we will have to start over. LOL
1 person likes this
• United States
15 Jun 07
It must be a wonderful feeling to have your mortgage paid off.
@tmlnmr (1850)
• Canada
15 Jun 07
yes it is. People often ask me why I don't move to town and I tell them that my house is paid for, my taxes are 200.00/yr, so I can afford to buy gas! LOL. Then I will say why would I buy another house pay a thousand a year for taxes to save a little on gas? Makes no sense to me!
1 person likes this
@tmlnmr (1850)
• Canada
21 Jun 07
Thanks for best response!
1 person likes this
@sunshine4 (8709)
• United States
22 Jun 07
Wow~ I would hate to have your mortgage! We have a house that is 2,500 square feet also. We built it 2 yrs ago. It is 4 bedrooms, 3 full baths. Our mortgage is 15 yrs and we pay $795/month without taxes and insurance included. Our taxes are about $6800 a month. I am not sure on the insurance.
1 person likes this
• United States
22 Jun 07
You probably mean $6800 a year in taxes, right? $6800 a month sounds like a ton.
@sunshine4 (8709)
• United States
22 Jun 07
OOPS...my bad! I did mean $6800 a year in taxes:) That's what happens when you try to answer with kids around.
1 person likes this
@cipher2004 (1183)
• United States
15 Jun 07
Wow!You have a big house.Mine is not so big.I pay $498 for mortgage,this includes taxes and insurance.It is a small rancher,3 bedrooms,living room,kitchen,1 bathorom and a finished basement.In a great neighborhood with a large pool and yard.I have 5% financing for 30 years.It was for sale for 98,000 but the woman took it off the market and sold it to me for 59,000.She needed the money because it was going to be forclosed.I just got lucky.I had it appraised 6 months ago.It is now worth $155,000.
1 person likes this
• United States
21 Jun 07
Good for you! Sounds like you got a great deal on your house.
@tmlnmr (1850)
• Canada
14 Jun 07
I should mention that my taxes are about $250.00 a year.
1 person likes this
@tmlnmr (1850)
• Canada
15 Jun 07
It is a two bedroom (was 3) bath, basement, living room and kitchen, sun porch and back porch and attic.
1 person likes this