Half of All Renters Spend More Than 30 Percent of Income on Housing

30 percent is a popular number in this domain - most financial advisors quote that as a golden rule - "Spend no more than 30 percent of your income on rent" - we spotted this stat today, that rising rental costs have ensured that many, many people no longer follow that rule - in fact, more than half of all renters in the US now spend more than 30 percent of their income on rent (Source).

Los Angeles takes the cake - renters spend 46.9 percent of their income on rent in LA. WOW.