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Posted by Janine (MONEY FORUMS: 5, Answers: 0)
Asked on September 15, 2015 9:14 am
in most places in the country, your rent should be below 25% of your income. That would mean you should have monthly income of $6000 to comfortably support rent of $1500. However, in places like New York, San Francisco, DC, and Boston, people often have to spend a significantly higher percentage of their income on rent. However, living in these places usually means you can do without a car, which helps offset the rent expense.
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