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Tenants In These Cities Are Spending the Highest Percentage of Income on Rent

States where rent costs the highest percentage of income are Florida, Louisiana, Hawaii, California, and Nevada.

The age-old financial planning rule cautioning consumers not to spend ore than 30% of their incomes on rent is “all but thrown out the window” thanks to rising costs, according to a new analysis from MyEListing.com.

Using Census Bureau data, the firm found that more than half of all Americans spend in excess of 30% of their incomes on rent each month, while more than two in five renters spend 35% or more. In addition, 61% of all US metros surveyed by the firm have more than 40% of residents paying more than 35% of their income in rent.

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