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Maximum to Spend on Rent

post #1 of 3
Thread Starter 
What do you think is the maximum acceptable amount to spend on rent as a percentage of your gross income?

I'm looking at new apartments and they're significantly more expensive that where I'm at right now and I'm not sure where to draw the line. I guess this question depends on what is included in rent but I've heard 25% commonly claimed. I'm thinking 30% if everything's included (maybe even a little more for a parking spot).

Thoughts?
post #2 of 3
Quote:
Originally Posted by Khayembii Communique View Post

What do you think is the maximum acceptable amount to spend on rent as a percentage of your gross income?
I'm looking at new apartments and they're significantly more expensive that where I'm at right now and I'm not sure where to draw the line. I guess this question depends on what is included in rent but I've heard 25% commonly claimed. I'm thinking 30% if everything's included (maybe even a little more for a parking spot).
Thoughts?

My rent is currently pretty cheap but I'm also still a student. I think I've seen 33% rent (everything)/food, 33% savings/invest, 33% spend and that has always seemed reasonable.

I'd pay a bit more if the place was in a prime location wouldn't pay more for something newer though
post #3 of 3
What percentage of your monthly income goes to rent?

Replies: 60 | Started: Jul 4, 2011 at 8:01 pm | Last Post: Jul 13, 2011 at 2:30 am
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