How much should you pay for housing based on your salary, ranging from $30,000 to $120,000 per year?

The clarity of the amount one can afford to spend on housing is not always evident.

Financial planners typically suggest that no more than 30% of your gross income should be spent on housing, whether it's a mortgage or rent. This recommendation is often based on guidelines established in the 1980s by the U.S. Department of Housing and Urban Development, which defined spending beyond 30% as "housing cost burdened."

To maintain a comfortable lifestyle, it is recommended to allocate approximately 25% of your income towards housing if you earn the U.S. median income of around $80,000.

Nearly half of all renters and a significant portion of Americans spend more than 30% of their income on housing due to soaring housing costs, according to a recent U.S. Census report. Among homeowners, 21.1% with a mortgage and 11.5% without a mortgage also exceed this threshold.

The 30% rule of thumb for housing spending may not be practical for many Americans.

How much you can afford to spend on housing, based on your income

What is the amount you can spend on housing at different income levels while staying within a 30%, 40%, or 50% threshold?

The maximum amount you can allocate towards monthly housing expenses without exceeding 30% of your gross income.

• $30,000 income: $750
• $40,000 income: $1,000
• $50,000 income: $1,250
• $60,000 income: $1,500
• $70,000 income: $1,750
• $80,000 income: $2,000
• $90,000 income: $2,250
• $100,000 income: $2,500
• $110,000 income: $2,750
• $120,000 income: $3,000

The maximum amount you can allocate towards monthly housing expenses without exceeding 40% of your gross income.

• $30,000 income: $1,000
• $40,000 income: $1,333
• $50,000 income: $1,667
• $60,000 income: $2,000
• $70,000 income: $2,333
• $80,000 income: $2,667
• $90,000 income: $3,000
• $100,000 income: $3,333
• $110,000 income: $3,667
• $120,000 income: $4,000

The maximum amount you can allocate towards monthly housing expenses without exceeding 50% of your gross income.

• $30,000 income: $1,250
• $40,000 income: $1,667
• $50,000 income: $2,083
• $60,000 income: $2,500
• $70,000 income: $2,917
• $80,000 income: $3,333
• $90,000 income: $3,750
• $100,000 income: $4,167
• $110,000 income: $4,583
• $120,000 income: $5,000

How much should you be spending on housing?

In urban areas, where housing costs are typically higher, the 30% rule for retirement savings may not always be practical, according to Melissa Caro, a certified financial planner and founder of My Retirement Network.

While flexibility is important for many, she advises that caution should still be exercised when spending more on housing, as other parts of a household budget, such as discretionary spending on entertainment, have some built-in flexibility, whereas housing costs do not.

Carefully weigh what's essential versus what's ideal, as rent or mortgage payments won't adjust if you face a job loss, advises Caro.

Caro advises against spending more than 50% of your income on housing as it restricts your financial flexibility.

Other experts recommend sticking closer to 30%, if you can.

"Emmanuel Eliason, a CFP in Colorado, suggests that while the 30% rule is still a good starting point for housing costs, in places with high housing costs, a range of 35% to 39% could be ideal for most families if they take proactive steps to revert back to the standard 30% housing budget allocation over time."

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