If you rent in an expensive city (I'm south-east), how much of your income goes on rent?
Our landlord is selling so we have to move. Just a bit sick of everyone advising us that we don't spend more than 30% of our income on rent (the "golden rule"!). I can't remember a time it was ever this low, but definitely not for the last 10 years.
Fully expect the usual comments here that I get irl: "move to a cheaper area/you can't afford to live here/get a better paying job/keep looking for somewhere cheaper" - all the usual meaningless advice 😅
We have for at least the last 10 years spent 44% of our income on rent, as do many of our friends, and will continue to do so. We get by ok and are very settled here, so don't see it necessary to leave.
AIBU to think the 30% rule is a bit meaningless and out of touch in expensive cities?
NB. I'm not looking for advice btw (especially not from those who have lucked out on their housing!). Just interested to know what percentage others are paying...