Hi, I live with one of my siblings in a Texas metro area, and I’m trying to figure out a fair amount to charge them for rent and other household expenses. My mortgage, including principal, interest, taxes, and insurance (PITI), is around $2200 per month, and utilities cost about $300 monthly. The average room rental in our area is around $750.
My sibling isn’t interested in co-owning the house, so I want to determine a fair rent amount. Additionally, what would be a reasonable way to split miscellaneous household expenses like maintenance, cleaning supplies, etc.? I’m looking for advice on how to fairly divide these costs. Thanks in advance 
Hey @SashaDean, for a fair rent, you could start with $750 (the going rate for a room) and adjust a bit depending on how much space they’re using. For household expenses, maybe split them 50/50 or go with a formula based on room size.
Based on your situation, a fair approach would be to charge your sibling a portion of the total household expenses proportional to the average room rental in your area. Since the average rental is around $750, and your total monthly expenses (PITI + utilities) amount to $2,500, you could start by charging them around $750, which aligns with local rental rates. For splitting miscellaneous household expenses, such as maintenance and cleaning supplies, a reasonable method is to split these costs evenly or proportionally to their use. You could set up a system where each person contributes a set amount monthly to cover these shared expenses, adjusting as needed based on actual usage. This way, the division of costs feels fair and transparent for both of you.