Wages vary in the United States as well. For example, the national median salary for entry-level project managers is $89,286, for established project managers is $96,425, for IT project managers is $100,000, and for engineering project managers is $107,472. Directors of PMOs make the most, raking in a solid $134,791 on average a year.
The typical bank limit on monthly mortgage payments is about 28 percent of your gross monthly income. Therefore, the bank thinks you can devote up to 28 percent of your household income to your mortgage payment and expenses (including taxes, insurance and association dues).
It shows (admittedly, unsurprisingly) that mortgage-free homes tend to have older principal householders than homes that still have mortgages left to pay. If you live in a home you own, I hope youâre one of the 32 percent that have paid off your mortgage. Given your age, though, that seems unlikely.2 percent of households that pay rent have monthly housing costs that are more than 30 percent of their income. Thereâs one other piece of data that can help us build up a clearer picture of American homeowners. The American Community Survey also has tracks the age of the main householder in owner-occupied homes.