Plenty of financial experts both past and present insist that you should never put more than 30% of your income toward rent. This once was not a terribly tough rule to live by, but now, with costs of living and, specifically, costs of housing soaring across the U.S. (and wages not keeping up), spending only 30% of your income on housing is just not realistic for many. Not even close. A 2024 Redfin study found that more than 20% of Americans are spending their entire paychecks on rent.
Check Out: What Salary Single People Need To Live Comfortably in 100 Major US Cities
