This is one of the most popular questions we are asked on a daily basis here at Charlesgate? All different variations of it:

How much can I afford in rent?

What should I be spending in rent each month?

I make $60,000 per year, what should my rent be?

How do I determine how much rent I should be paying?

To answer this question, we wrote a blog post a few months ago that should really help out. You can check it out here but here is a quick summary:

“Typically in the Boston rental market, landlords don’t want to see tenants spending more than 1/3 of their monthly income in rent.  Staying at 33% or less of income towards housing is a typical recommendation for sound personal financial management, so in the landlords mind, they feel safe if tenants are under that mark.  The tenants can pay rent, yet still have enough income left over to actually live their life and not be in a huge money crunch each month to pay the rent.  At least that’s the thinking anyway!”

But we want to make it even easier for you! We created an easy to use infographic that does the math for you and offers some additional tips for getting the most for your rent money. Check it out!