Half of All Renters Spend More Than 30 Percent of Income on Housing

April 18, 2014 11:36 pm

30 percent is a popular number in this domain – most financial advisors quote that as a golden rule – “Spend no more than 30 percent of your income on rent” – we spotted this stat today, that rising rental costs have ensured that many, many people no longer follow that rule – in fact, more than half of all renters in the US now spend more than 30 percent of their income on rent (Source).

Los Angeles takes the cake – renters spend 46.9 percent of their income on rent in LA. WOW.

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