Rent as a percentage of income. General rule (and what I’m assuming the article is using without getting around the paywall) is 1/3 of your income should be rent. So if the avg rent in 2019 was $1666 and it’s now $2000 you should be making $80k/year instead of $60K.
Rent as a percentage of income. General rule (and what I’m assuming the article is using without getting around the paywall) is 1/3 of your income should be rent. So if the avg rent in 2019 was $1666 and it’s now $2000 you should be making $80k/year instead of $60K.
Ah, assuming that’s what’s behind the paywall that makes much more sense.
I’m old enough to have learned that housing should be 1/4 of your take home pay
That’s the general rule of thumb that I learned as well… try to stay within 1/4th of salary for mortgage/rent.
Just a small distinction. Not more than 1/3 of your income should be rent. Also this figure is based on the net income, not pre-tax