15 million renters pay more for housing than they can afford. Here's how to figure out if you're one of them
Publishing timestamp: 2023-02-19 09:00:01
Summary
Renters are increasingly spending more than the recommended 30% of their income on housing due to high rents and low vacancy rates. Experts advise renters to create a budget and aim to spend no more than 28% of their gross income on rent and related costs. In certain expensive cities, spending up to 35% may be acceptable.
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Keywords: economic events, new york, douglas elliman inc, business news, ramit sethi, new york city, politics, real estate, housing, personal finance, united states,