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).
Here is in the Bay Area, we call it the weather tax. Reply. Iâve always thought that 30% rule is a little silly. Maybe if youâre making enough money you can afford to put 30% of your income into a house, but we certainly cannot. Our mortgage payment is only 20% of our income, and we are pretty frugal people, but that other 80% dissapears pretty quickly and we still arenât putting as much into retirement as we would like.