How much of your take-home pay would go to rent?
Compare monthly housing costs against what actually lands in your account. Include recurring housing charges you expect to pay, such as utilities, parking, or building fees. Keep refundable deposits in a separate cash plan.
Putting the result to work
With $3,000 in monthly take-home pay, a $900 housing quote uses 30% of your income and a $1,200 quote uses 40%. The difference leaves $300 more or less for other expenses.
Does the percentage tell me which apartment I can afford?
Use it to compare quotes, then check what remains for food, transport, savings and other obligations. The same percentage can leave very different amounts of money for two people.
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