""While spending around 30% of your gross pay on rent is a good starting point, the exact percentage will likely fluctuate from person to person.""
""If you want to rent long-term, spending 30% - or even a bit more - on rent may make sense if you can swing it.""
The 30% rule suggests that about 30% of gross income should be allocated to rent. However, individual financial goals and circumstances can influence this percentage. If planning to buy a home, spending less than 30% may be advisable to save for a down payment. Conversely, if renting long-term, spending 30% or slightly more could be acceptable if it includes amenities. It's essential to consider other expenses and maintain a balanced budget when determining rent affordability.
Read at SFGATE
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