Real EstatePolitics & Money

Zillow: Starting teachers spend almost half of salary on rent

Almost a third of their salary goes towards a mortgage

In 19 of the 50 biggest metro areas in the U.S., starting-level teachers spend more than half of their salary on rent, according to Zillow

Nationally, the median market-rate for rent is 46.8% of a starting-level teacher's salary. 

Mid-career teachers spend 35.6% of their salary on rent, while 26.6% of the highest paid teachers' salary goes towards rent.

With mortgage rates low and monthly payments thereby lower as well, buying a home as a teacher is a little more achievable, Zillow said.

According to Zillow, starting-level teachers put 26.6% of their salary to paying off a mortgage, while mid-level teachers put 20.2% towards a mortgage and the highest level teacher pays 15.1%.

Some places aren’t liveable with a starting teachers salary, however. In San Jose, California, the median rent would take 108.3% of a starting teachers salary. A mortgage would take 129%.

3d rendering of a row of luxury townhouses along a street

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