what percentage of my income should rent be each month
The traditional guideline is to keep rent at or below 30% of your gross monthly income, meaning if you earn $5,000 before taxes, your rent target is $1,500 or less. In high-cost cities many renters push this to 35–40%, which is manageable but leaves very little room for savings or unexpected expenses. A better benchmark is to look at your take-home pay rather than gross income — 30% of net is more conservative and more accurate to what you actually have available. If rent is taking more than 40% of your take-home, start building a plan now to either increase income, reduce other expenses, or plan a move at your next lease renewal. Running your numbers through a safe-to-spend calculator can show you exactly how tight or flexible the rest of your budget is given your current rent.
Where this fits
This answer is from our guide Renter Monthly Budget Template: A Practical Guide to Managing Your Money in the Renter spending series. For a working tool, try the free budget calculator.
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