How Much Should Housing Be Of Your Budget. If youre using the 1 rule of thumb you should budget at least 1 of the homes purchase price for maintenance. If youre paying more than that per month youre likely living.
Using this rule you can quickly calculate how much you can afford in rent per month. Thats why its a good idea to plan a certain amount of medical expenses into your budget. According to the 25 rule we mentioned earlier that means your monthly house payment should be no more than 1250.
Divided by 12 months.
That number would be the monthly amount to budget. But is that enough. If youre paying more than that per month youre likely living. Your housing expense ratio is 10003000 033 33.
