2006-12-17 07:44:48 · 10 answers · asked by mscre 1 in Business & Finance ➔ Renting & Real Estate
25% of your gross income should only be used for the rent
2006-12-17 07:46:43 · answer #1 · answered by Thomas 4 · 0⤊ 0⤋
Most of the time Rentals base your rent against your income, that in most of cases you have to make about 3 times or more so you can afford pay your rent.
But my advice is the rent money is already after taxes, so to be safe the best thing is if you calculate about 20% or less of your total income.
Good Luck
2006-12-17 07:56:13 · answer #2 · answered by Antonio M 2 · 0⤊ 0⤋
It must obviously be based on your personal income. Rent is determined by those well off enough to own a building in the first place. It truly is, ALL ABOUT MONEY!!!!!!!
2006-12-17 07:49:22 · answer #3 · answered by front_up_evol 2 · 0⤊ 0⤋
I don't know where you live, but a general rule of many budget counselors is that you should spend a maximum of 1/3 of your total income on rent. Works for me!
2006-12-17 07:52:48 · answer #4 · answered by Tina L 2 · 0⤊ 0⤋
I would take your monthly income & subtract the following:
-the bills that you pay on a monthly basis
- an estimate of how much you spend on food, gas & personal items
-any extra money for whatever it is that you like to do in your free time
-anything you might deposit into savings once a month
When I got my first apartment that was how I did it, & it worked for me.
2006-12-17 08:00:16 · answer #5 · answered by mrauscher74 3 · 0⤊ 0⤋
Your hire could be one million/3 of your earnings. So in case you're making $1100 a month, your hire should not be extra suitable than $367 a month. in case you may not discover something, look into getting a roommate, in simple terms make advantageous they're in charge, too.
2016-12-30 13:35:29 · answer #6 · answered by ? 3 · 0⤊ 0⤋
Rule of thumb. Not more than 30% of your income.
2006-12-17 07:51:30 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Add up what you bring home from your paychecks for one month.
Subtract car, insurance, utilities, food and entertainment and other expenses you have.
What's left over is what you can afford for rent.
If it's lower than you want, adjust your expenses (entertainment and food, mainly).
2006-12-17 08:00:07 · answer #8 · answered by Anonymous · 0⤊ 0⤋
28% of your income
2006-12-17 07:52:30 · answer #9 · answered by Anonymous · 0⤊ 0⤋
hello :)
it should not be more than 1/4 th your monthly pay, i believe (:
2006-12-17 07:53:13 · answer #10 · answered by justtammyj1964 2 · 0⤊ 0⤋