Your rent should be what per cent of your income?

Answer by  Brandon55 (1719)

Most financial advisors recommend rent and/or house payments be no more than 33 percent of monthly income. In addition, many banks will not loan money if the amount is more than 50 to 60 percent of monthly income. So if you stay below the 33 percent mark, you are right on target.

Answer by  sara99 (851)

It is generally 25% of gross for rent. Then add in utilities, phone and insurance with the grand total still being at one third of your total gross income used for housing.

Answer by  lynn (821)

when my friend bought her house they were allowed to have a mortgage payment per bank specifications equal to 40% of their income. I think that is the maximum allowed.

Answer by  eyeguy (3760)

Depending on your region , 30% of your income is the norm. Your should have enough income to pay two months of rent at any time.