What percentage of your monthly salary do you spend on rent? | TechEnclave


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Taking into consideration the total monthly household income, what according to you is the maximum limit that should be spent on house rent? How do you decide your maximum budget for rental expenses?

I am asking this because I live in a tier 2 city, and am looking to move to a new apartment. While the move will be an upgrade, the expected rental outgo (including EB, maintenance and other utility bills) is also increasing a lot. I might have to shell out almost 30% of the total income on rent related expenses. That is more than what I was expecting it to be, although I can still afford to pay that much.

 

You gotta add “0%” for those who own their places. Unless less than 10% already accounts for the same.

 

I am spending around 35% for a tier 3 city. This city is more expensive than my actual address i.e. Mumbai.

The only thing I find a lil inexpensive are vegetables.

 



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